Sri Lanka’s high tech exports decline from $ 102 m to $ 57 m

Thursday, 31 January 2013 00:05 - - {{hitsCtrl.values.hits}}

The Sri Lankan private sector must invest in research and development in the backdrop of the fast-track economic development agenda of the country, commented Rohantha Athukoarala, the Head of National Portfolio Development of the United Nations (UNOPS) for Sri Lanka and Maldives.

Athukorala aired these views at the evening meeting hosted by the award winning Rotary Club of Battaramulla at the Royal Colombo Golf Club last week, at which he was guest speaker. The Battaramulla Rotary Club has received a string of achievements in Rotary circles including best club, best rotary president and the best ranked community project, and hosts leading business personalities in the country.

Sri Lanka’s export performance declined by around seven per cent last year, especially in high tech exports, which amounted to $ 102 million back in 2008 and dwindled to $ 57 million in 2010.

The best way to correct this situation is to engage with the Government and develop a partnership between the private and public sector, said Athukorala. The Nano Park that has been in operation in the country with the support of top five companies in Sri Lanka, including Dialog and MAS Holdings, is the model that must be pursued, he added.

The export of high tech products from Sri Lanka accounts for only 1.8% of the export business of the country whilst in very competitive countries like Korea, this sector accounts for 75% of exports. This is the same in Thailand with 27%, and in Singapore and Malaysia where the figure is above 50%.

“While Sri Lanka is driving infrastructure development for competitiveness, we must invest in the other side of the business with private-public partnerships,” urged Athukorala who was a former Chairman of the Sri Lanka Export Development and the National Council for Economic Development (NCED), prior to his appointment to the United Nations (UNOPS) in Sri Lanka.