Tuesday Sep 17, 2024
Tuesday Sep 17, 2024
Wednesday, 26 June 2024 00:32 - - {{hitsCtrl.values.hits}}
State Minister of Technology Kanaka Herath
State Minister of Technology Kanaka Herath yesterday detailed the country’s digital surge, noting significant growth in internet, social media usage, ambitious tech initiatives and economic reforms.
Addressing the first DigiEcon Global Investment Summit 2024, he outlined ambitious plans to achieve a $ 15 billion digital economy by 2030.
“Individual internet usage in Sri Lanka increased by 3.9% in 2023, surpassing the global average of 1.8%, while social media usage saw a surge of 6.5% and mobile penetration reached an impressive 148%, underscoring the country’s potential for digital transformation,” he added.
A major project in the pipeline he said is the implementation of a unique digital ID. “We have received the Cabinet approval for this initiative, which will serve as the foundation for digitalisation, connecting both Government and private institutions, especially banks. We are working closely with the Investment Promotion Ministry to facilitate and support digital investors on this journey,” Herath noted.
He cited achieving countrywide 4G coverage by next year as an immediate goal, while reiterating the initial approval granted to Starlink to enhance connectivity options across Sri Lanka.
Herath also noted significant legal advancements, such as the approval of the Data Protection Act by Parliament in 2023 and the establishment of the Data Protection Authority this year. “We are also planning to get approval for the Cyber Security Act, which is currently drafted and under review,” he added.
In terms of FinTech, Herath pointed out ongoing efforts to increase the cashless economy in Sri Lanka. “We have numerous programs aimed at promoting cashless transactions, particularly at the grassroots level and among SMEs. This summit is part of our efforts to engage with the industry and foster collaboration,” he said.
Herath acknowledged the visionary leadership of President Ranil Wickremesinghe, Sri Lanka has experienced a remarkable economic resurgence.
“These achievements position Sri Lanka to host this Digital Investment Summit,” Herath stated, highlighting the country’s readiness to embrace and expand its digital economy.
The State Minister emphasised the importance of digital infrastructure and connectivity in realising Sri Lanka’s potential as a hub for digital investment and technological advancement.
