Expert committee to recommend fintech’s future road map | Daily News

Expert committee to recommend fintech’s future road map

To position Sri Lanka as hub for technology
Scale up USD 3 bn export revenue target

Minister of Youth and Sports and State Minister of Digital Technology and Enterprise Development Namal Rajapaksa has appointed an expert committee to recommend fintech’s future road map as a nation.

The strategy is in motion to position Sri Lanka as a hub for technology, service and innovation with the goal of enabling the local ICT and BPM industry to scale up to that USD 3 billion export revenue target. These activities will include upcoming technological parks to ensure that the national goal of establishing a future digital economy for Sri Lanka, Minister Rajapaksa told a virtual CEO forum organized by Sri Lanka Institute of Directors, International Chamber of Commerce and key other partners held under the theme , ‘Making Sri Lanka a Technology Hub’.

Noting that the Government is planning to name 2022 as the digital year, Minister Rajapaksa said in this regard, Sri Lanka as a country will draft a policy allowing transactions with digital currency.

“Furthermore, we will focus on empowering communities with digital education and build a digital inclusive Sri Lanka. The COVID- 19 impact has reached every corner of the world. The COVID -19 crisis has highlighted the need for significant support and investment on digital transformation, effective digital governance across all countries in the region, in particular delivery of core government functions. Speaking on digital transformation, the Minister said inclusion must be at the heart of digital transformation, to leave no one behind.

“In particular, we need to include inclusive objectives in four core foundations of the digital economy such as internet access, digital skills, digital financing and ecommerce. President Rajapaksa has also pledged in his manifesto that the entire education system will be digitised and necessary training, knowledge infrastructure will be provided to school children, teachers and parents. One key driver of digital transformation would be education.

We also include educating the administration as a key important aspect of digital transformation and digital education.”

He added that the 21st century is known as the knowledge centric century and to remain competitive globally, it is important that technology should be integrated with every sector of the economy, be it agriculture, industry or service sector.

“And we need to invest strategically in technology and integrate such innovations with our education system and economy.”

Emphasising the need to enhance the quality of life of Sri Lankans, the Minister added that it is important to start a massive social transformation or a culture of technological innovation. He said further that the Government will put in place a process where people would not have to be inconvenienced when obtaining government’s services.

“ The convenience of our citizens would be in the forefront,” Minister Rajapaksa emphasised.

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