President stresses importance of rapid shift to digital economy

Exhibition meeting

• International Conference and Exhibition on the New Digital Economy in Colombo later this year

President Ranil Wickremesinghe on Wednesday pointed out that the industrial education and training opportunities in Sri Lanka should be improved by introducing modern technology required to surpass the new industrial technology and digital economy of the fourth and fifth industrial revolutions. 

The President made this observation during a preliminary discussion on the “International Conference and Exhibition on the New Digital Economy” scheduled to be held in Sri Lanka in the last quarter of this year. 

This international exhibition aims to utilise technology to improve productivity and efficiency to overcome the current crisis. It is to be done by recognising means to accelerate various industries in this country from the current technological level to the technologies in the digital economy at times of new industrial revolutions. 

It is also expected to make Sri Lanka an export hub infused with modern technology, able to support the Government by promoting Foreign Direct Investment (FDI) in service and export sectors, bring the best international practices to local industries and network with industry leaders.

This exhibition will also introduce modern technology tools to the industrial sector of Sri Lanka to achieve this new digital economy by focusing on technical methodologies such as Cyber-Physical Systems (CPS), Internet of Things (IoT), Internet Services (IoS), Robotics, Big Data, Cloud Computing and Manufacturing and Advanced Augmented Reality Artificial Intelligence. 

During this discussion, attention was drawn to passing the dividends of the digital economy which would be developed in various fields, among the people of different social strata across the island. 

The exhibition is to be organised by a steering committee consisting of representatives of 13 line ministries including Finance, Foreign Affairs, Industry, Education, Transport, Trade, and Agriculture under the leadership of State Minister of Technology Kanaka Herath.

Secretaries of line ministries, representatives from the Export Development Board (EDB), Sri Lanka Board of Investment (BOI), Chamber of Commerce and Sri Lanka Information and Communication Technology Agency, and private sector representatives attended the discussion.