By Nuzla Rizkiya
Sri Lanka possesses a strong foundation for a digital economy, with 75 percent of the necessary skills already in place, according to Chief Advisor to the President on Digital Economy Dr. Hans Wijesuriya.Â
However, to fully capitalise on this potential, the country must bridge the remaining gap and enhance its digital competitiveness.
Currently, Sri Lanka’s digital competitiveness falls within the lower fourth quartile in terms of technology adoption, interest, and inclusivity.Â
Dr. Wijesuriya, former CEO of the Axiata Group, emphasised the need to elevate Sri Lanka to the upper first quartile within the next three years.
Achieving this ambitious goal requires a multi-pronged approach, he said.
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“We need to recalibrate our approach and accelerate the adoption of new ways of working,†Wijesuriya said while speaking at the Ignite Growth Forum of the Advocata Institute yesterday.Â
“The institutional framework, legislation, and cultural shifts will necessitate significant effort.â€
He highlighted the importance of establishing a robust institutional framework with a strong apex organisation and effective execution units.Several key legislations, including the Data Protection Act, the Electronic Transactions Act, and those under the purview of the Central Bank of Sri Lanka, require updates and alignment with the evolving digital landscape.
Furthermore, the development of comprehensive regulations and standards in areas such as API rules and cybersecurity is crucial to ensure the delivery of high-quality digital services for both users and industrial stakeholders.
While data governance emerges as a critical area of focus, Dr. Wijesuriya stressed the need for a well-defined national data governance strategy, emphasising the potential of data sharing through a national data exchange, while ensuring data privacy and security within the confines of the Data Protection Act.
To drive AI-powered innovation, Sri Lanka must develop a dedicated strategy to address the energy requirements for its infrastructure, he noted. Drawing inspiration from Singapore’s successful utilisation of subsidised energy from Malaysia to power its data centers, Dr. Wijesuriya suggested exploring similar approaches to support Sri Lanka’s AI hardware and processing needs.
“With concerted effort from all stakeholders, Sri Lanka has the opportunity to accelerate its digital transformation and usher in a new era of economic growth and development,†said Dr. Wijesuriya.
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