ICT exports grow at 5.22% | Daily News

ICT exports grow at 5.22%

Information Communication Technology service exports have grown 5.22% year on year in 2019. ICT has been an identified area for potential growth as an export industry by both the industry and the broader export supporting stakeholders. ICT has grown from a US$ 1.035 billion industry in 2018 to a US$ 1.089 billion industry in 2019.

A digital marketing campaign is underway to promote the Sri Lankan ICT/BPM brand. The brand IOI – the Island of Ingenuity is to strengthen the country’s positioning in target markets to make Sri Lanka a sourcing destination of knowledge services.

The Burgundy and Redhill Consultancy firm together with the EDB will implement this initiative in target markets such as the UK, the USA, Japan, Australia and Nordic countries. These plans and figures were made public in the 2019 Annual Report of the Sri Lanka Export Development Board presented to parliament recently.

The export development board has provided a matching grant which assists with a maximum of Rs. 3.5 million to ICT/BPM companies under the Champion Builder initiative.

Former Chairman Prabhash Subasinghe said, “The export sector has now become the most important sector of the economy of Sri Lanka and we will continue to deliver results and look forward to another year of achieving new heights in the international trade arena.”

The export development board has also helped the IT sector to participate in ICT conferences around the globe.

Despite a lack of PayPal support US$ 1,679.55 worth online transactions were executed to Austria, Belgium, Switzerland, Japan, Hungary, United Kingdom, Sweden, Canada, Serbia, United Arab Emirates and the USA during the period under review.