WB pledges continuous technical support to the government and the private sector in shaping the 2030 strategy for a digital Sri Lanka.
COLOMBO : In a pioneering move to bolster the small and medium-sized enterprise (SME) sector in Sri Lanka, the apex body of the ICT industry, FITIS, has unveiled the “DigiGo” Digital Playbook for SMEs. The launch event took place at a press conference recently at the President’s Media Centre, (PMC). Organized by the FITIS Digital Services Chapter, in collaboration with LKDomain Registry and under the patronage of the Ministry of Industries & Plantation Industries, as well as the Ministry of Technology, DigiGo aims to serve as a comprehensive resource for SMEs seeking affordable local digital services, guiding them on their journey towards digital transformation.
Addressing the gathering State Minister of Technology, Kanaka Herath, emphasized the pivotal role of technology in propelling the growth of the SME sector. He underscored how technology can provide solutions to the common challenges faced by SMEs, including accessing seed capital, expanding into new markets, overcoming resource constraints and addressing logistical issues. He also expressed his enthusiasm for collaborating with FITIS to launch the DigiGo initiative, which he believes will significantly enhance the SME sector in the country.
Furthermore, the Minister highlighted that the government has initiated the “Digicon 2030” program, with the primary objective of formulating a national digital economic policy for the year 2030. This initiative was a collaborative effort between the Ministry of Technology, the industry and with the support of the World Bank (WB). The resulting document was officially presented to President Ranil Wickremesinghe. Notably, SMEs have been identified as one of the six key pillars in shaping the digital economy strategy. This underscores the importance of supporting SMEs in achieving the objectives of the digital economic strategy.
The State Minister of Technology, acknowledged the prevalent challenge of limited digital education among SMEs, especially those outside major urban centres like Colombo and Kandy. In response, DigiGo will serve as a guiding resource, enabling SMEs to explore available digital platforms and fully embrace the advantages of going digital. The program plans to host quarterly DigiGo events in all 25 districts by 2030, ensuring the widespread dissemination of digital knowledge.
With the recent launch of DigiGo, Minister Herath emphasized its role in promoting awareness about digital transformation and the benefits it offers to all SMEs in Sri Lanka. The DigiGo digital playbook, unveiled during the launch, serves as a unique platform showcasing a wide array of available digital services, creating opportunities for business growth and expansion in the digital sphere. The inaugural event, scheduled to commence on October 20th in Galle, is planned to expand its reach to all 25 districts through collaboration with local business communities. FITIS, in partnership with the Ministry of Technology and various public and private stakeholders, will facilitate these sessions, aimed at empowering SMEs to embrace the digital era and unlock their full potential.
In a significant development, Ms. Chio Kenda, the World Bank Country Manager for Maldives and Sri Lanka, unveiled the “DigiGo Innovate Digitally to Succeed” initiative during her speech. She underscored the potential for digital development to address both global and local challenges, emphasizing its role in job creation, market expansion and the enhancement of access to finance. As Sri Lanka navigates its way out of an economic crisis and sets forth on the path to recovery, the strategic development and implementation of a national business strategy by 2030 are deemed crucial steps.
On a global scale, the digital economy presents substantial opportunities for SMEs to make significant contributions to national incomes. In the year 2023, business-to-consumer e-commerce recorded sales of nearly US $6 trillion. With over 1.7 million SMEs propelling economic growth in Sri Lanka and driving employment, they collectively represent approximately 90% of all businesses in the country. They are responsible for providing 45% of the nation’s employment opportunities and contribute to almost half of the country’s GDP.
