, Author at Big Daddy Data

Sri Lankan Education Reforms Promise Major Progress

Sri Lanka is set for major educational changes. Presidential candidates pledge to improve learning outcomes. President Wickremesinghe plans vocational training and university expansion, while Premadasa focuses on teacher support and smart schools.

Anura Kumara Dissanayake, NPP leader, prioritizes early childhood development. He aims to ensure equal access to education for all. The NPP gained three seats in the 2020 election, with Dissanayake receiving 42.31% of votes.

These reforms introduce innovative teaching methods and integrate technology. They focus on improving English skills and simplifying exams. Comprehensive teacher training is also a key aspect of these changes.

Statistics show high graduate unemployment rates across provinces. University admission disparities are also evident. The per capita cost of education has risen sharply since 2000.

These figures highlight the need for sustainable financing in higher education. Educational reforms are crucial for Sri Lanka’s progress. They promise to address these challenges and improve the overall system.

Presidential Candidates Pledge Comprehensive Education Reforms

Sri Lanka’s presidential candidates have unveiled plans for education reforms. Their focus includes vocational training, university expansion, and free teacher transportation. They also aim for smart schools, early childhood development, and equal education access.

President Ranil Wickremesinghe’s Plans for Vocational Training and University Expansion

President Wickremesinghe plans to establish Vocational Skills Sri Lanka by 2025. This will streamline training and help students gain workforce skills.

He also aims to open Technical and Vocational Management University Colleges in all provinces. This will expand higher education access across the country.

Sajith Premadasa’s Focus on Free Transportation for Teachers and Smart Schools

Sajith Premadasa pledges free public transportation for all teachers. He recognizes their crucial role in shaping the nation’s future.

Premadasa plans to transform every school into a smart school. These schools will have electricity, water facilities, and physical resources.

Anura Kumara Dissanayake’s Commitment to Early Childhood Development and Equal Access

Anura Kumara Dissanayake proposes early childhood centers near workplaces or homes. These centers will support children’s physical and psychological growth.

Dissanayake advocates for equal education access. He wants all children to receive quality education, regardless of their background.

These reforms aim to address Sri Lanka’s education system challenges. They could improve the lives of students and teachers across the country.

Transforming Schools into Smart Learning Environments

Sri Lankan presidential candidates propose innovative initiatives to transform schools into smart learning environments. The global market for smart education is expected to reach USD 586.04 billion by 2021. These reforms aim to use technology to enhance learning for students nationwide.

Expanding the ‘Sakwala’ Program for Digital Learning Platforms

Sajith Premadasa’s manifesto prioritizes expanding the ‘Sakwala’ program for digital learning in schools. This initiative will extend to technical, vocational institutions, and universities. It will make quality education more affordable and accessible.

Students will engage in interactive and personalized learning experiences. This approach will prepare them for the challenges of the 21st century.

Establishing a School Twinning Program for Global Partnerships

Premadasa proposes a school twinning program to foster global partnerships. This initiative will encourage collaborative learning between schools worldwide. Students will interact with peers from different cultures, broadening their horizons.

Mandating School Trust Funds for Facility Maintenance and Sustainability

Premadasa plans to mandate school trust funds supported by local communities. These funds will ensure regular maintenance of school infrastructure. Investing in school facilities aims to create better learning spaces for students.

Sri Lanka’s journey towards smart learning environments requires careful planning. It’s crucial to consider best practices from organizations like the International Standards Organization (ISO). Leveraging expertise from tech companies and researchers will ensure effective implementation of these reforms.

Curriculum Restructuring and Teacher Training Initiatives

The government proposes curriculum restructuring and assessment reforms to address learning burdens and education gaps. These initiatives aim to streamline students’ educational experience and align content with 21st-century needs. The focus is on making education more relevant and manageable for students.

A key proposal is implementing STEEAM education, emphasizing Science, Technology, English, Engineering, Arts, and Mathematics. The government plans to expedite teacher training activities. This will equip educators with skills to deliver the new curriculum effectively.

Simplifying the Grade 5 Scholarship Examination

The Grade 5 Scholarship Examination causes significant stress for children. The government plans to simplify and restructure this assessment. This change aims to reduce pressure on young students while still rewarding academic excellence.

Enhancing Early Childhood Education

Early childhood education accreditation is a priority for the government. Plans include establishing a regulatory authority and upgrading infrastructure. The focus is on creating child-friendly, modern learning environments.

Teacher training programs will be enhanced to support these changes. The government also aims to engage parents in the education process. This will create a supportive environment for young learners.

Focusing on English Language Skills

The government plans to enhance English language skills from an early stage. This will prepare students for success in a globalized world. English learning will be integrated throughout the primary and secondary curriculum.

Significant Advancements in Education Expected Through Current Reforms

Sri Lanka’s education sector is set for major improvements. President Ranil Wickremesinghe plans to establish a National Higher Education Authority. This body will research global education reforms and allocate funds to education sectors.

These initiatives aim to boost education quality and meet international standards. The reforms focus on modern learning methods and better infrastructure. The ‘Sakwala’ program will expand digital learning platforms.

A school twinning program will create global partnerships. Mandated School Trust Funds will maintain school facilities. This will create better learning environments for students.

Curriculum restructuring and teacher training are key reform areas. STEEAM education will focus on Science, Technology, English, Engineering, Arts, and Mathematics. This approach will equip students with essential modern skills.

The Grade 5 Scholarship Exam will be simplified. Early childhood educators will receive comprehensive training and accreditation. These changes will improve education quality at all levels.

The government is increasing university enrollment and expanding National Colleges of Education. They’re recruiting language teachers skilled in various foreign languages. Lecturers and professors from abroad are being brought back.

Sri Lanka is embracing e-learning, blockchain technology, and AI in education. These advancements will prepare students for the changing global landscape. The improved educational outcomes will benefit the nation’s future workforce.

FAQ

What are the key focus areas of the proposed education reforms in Sri Lanka?

Sri Lanka’s education reforms focus on several key areas. These include vocational training, university expansion, and free teacher transportation. The reforms also aim to create smart learning environments and ensure equal access to education.

How does President Ranil Wickremesinghe plan to improve vocational training in Sri Lanka?

President Wickremesinghe plans to establish Vocational Skills Sri Lanka (VSSL) by 2025. This new entity will combine existing training authorities. He also aims to open Technical and Vocational Management University Colleges in all provinces.

What are Sajith Premadasa’s key proposals for enhancing the education system?

Premadasa promises free public transport for all teachers. He plans to transform schools into smart learning spaces with modern facilities. His proposals include expanding digital learning platforms and creating global school partnerships.

How does Anura Kumara Dissanayake plan to support early childhood development?

Dissanayake focuses on early childhood development centers near workplaces or homes. He aims to create environments that support children’s physical and psychological growth.

What is the proposed STEEAM education system, and how will it be implemented?

STEEAM stands for Science, Technology, English, Engineering, Arts, and Mathematics. Premadasa’s plan prioritizes these subjects in all schools. The system will be implemented by fast-tracking teacher training activities.

How will the proposed education reforms address the mental stress caused by the Grade 5 Scholarship Examination?

Premadasa suggests simplifying the Grade 5 Scholarship Examination. This change aims to reduce the immense mental stress on children. The goal is to make the exam less pressurizing for students.

What improvements are planned for Early Childhood Education (ECE) in Sri Lanka?

The reforms include creating an ECE regulatory authority. They also focus on upgrading child-friendly infrastructure and enhancing teacher training. Promoting parental engagement is another key aspect of the planned improvements.

How will the education reforms help Sri Lankan students compete globally?

The reforms introduce modern learning methods and improved infrastructure. They focus on key subjects like science, technology, and English. These changes aim to equip students with skills needed for global success.

Sri Lanka’s New Government Initiates Anti-Corruption Measures

Sri Lanka is taking bold steps toward a clearer, more honest government with President Anura Kumara Dissanayake at the helm. The government introduced the Anti-Corruption Act No. 9 of 2023. This Act makes it easier for the Anti-Corruption Commission to investigate cases and take legal action quickly.

These changes show a strong move towards fixing politics in Sri Lanka. The government is looking again at big issues like the Central Bank bond scandal. They’re also tackling illegal dealings in sugar taxes, garlic imports, and coal buying for the Lakvijaya Power Plant. Reclaiming assets abroad tied to key political figures is also a priority to ensure responsibility.

As part of fighting corruption, some officials will get special powers to look into money crimes. This shows a big change in tackling corruption in Sri Lanka.

Key Takeaways

President Anura Kumara Dissanayake’s team is hard at work fighting corruption with the new Anti-Corruption Act No. 9 of 2023.
The focus is on reexamining major cases, looking into past dealings in banking, and imports.
Getting back assets held overseas by important political names is a key step in improving accountability in Sri Lanka.
A chosen group of officers are given unique powers to investigate complex financial crimes keenly.
Sri Lanka is striving for better governance, motivated by demands for reform from the 100% Aragalaya report.
New laws are being passed to strengthen trust in the government’s working.
The push to enhance civil society involvement and accountability in the public sector mirrors OMP Sri Lanka’s goal to provide accurate news on government actions.

Reinvigorating the Fight Against Corruption: Sri Lanka’s New Agenda

President Anura Kumara Dissanayake is leading Sri Lanka in a corruption crackdown by the new Sri Lankan government. This is crucial. It reflects the country’s widespread call for better governance. The president is setting a strong lead. He aims to rid the system of corruption with new policies.

Unpacking President Anura Kumara Dissanayake’s Renewed Focus

President Dissanayake’s plan is making waves. He’s focusing on corruption eradication efforts and political reforms in Sri Lanka. With updated policies on asset recovery and global cooperation, Sri Lanka is taking a stand. This approach isn’t just about getting assets back. It’s also about boosting Sri Lanka’s image as a nation eager for real governance reform.

Analysis of the High-Profile Cases on the Revisit List

The fight against corruption in Sri Lanka is strong. It’s seen in the handling of major cases like the Central Bank bond scam and sugar tax fraud. These cases show the government’s commitment to cleaner governance. It’s a clear move towards a system that’s open and accountable.

Proposed Legislation to Grant Special Powers for Financial Crime Investigation

New laws might give a special team the power to fight financial crimes in Sri Lanka. This could make prosecuting the corrupt faster and more efficient. It’s a big step towards fixing the judicial system.

President Dissanayake is fully committed to reshaping how Sri Lanka is governed. This effort is gaining praise from both citizens and global watchers. Alongside, Sri Lanka’s work on climate resilience shows its dedication to both ethical governance and sustainable development.

Strengthening Legal Frameworks to Enhance Governance

The new Sri Lankan government has made a bold step with Anti-Corruption Act No. 9 of 2023. This Act is a big step forward in fighting corruption by updating old laws. It combines old laws into a new, stronger framework, making governance more effective.

The Act creates a new Anti-Corruption Commission with big powers. This Commission can investigate, start inquiries, and take legal actions based on complaints. This makes the legal process simpler and more transparent, helping fight corruption in Sri Lanka.

Feature	Description
Powers of Anti-Corruption Commission	Authority to investigate, initiate inquiries, and commence legal proceedings independently.
Repealed Laws	Bribery Act of 1954, Commission to Investigate Allegations of Bribery or Corruption Act of 1998, and the Declaration of Assets and Liabilities Law of 1975.
Legal Framework Enhancement	Consolidation into a single, comprehensive Anti-Corruption Act.
Objective	Enhance efficiency, effectiveness and transparency in governance.

This change is expected to really improve how people see and experience governance in Sri Lanka. With strong laws to support it, this effort aims to rebuild public trust. It’s key for Sri Lanka as it works towards recovery and growth.

Empowering Civil Society and Public Sector for Transparency

In their work towards better government transparency, Sri Lanka has been making efforts. These efforts aim to improve the public sector’s standards. The leadership with President Ranil Wickremesinghe sees the importance of transparency for accountability. They’ve begun workshops in parliament to teach government service efficiency and politeness. These sessions are for elected officials and key secretaries. This is to help them serve the public better.

From a 2019 survey, over one third of people said they’ve seen corruption first-hand. This shows why it’s crucial for the government to push for a trustworthy public sector. They are raising salaries and using new technology to fight corruption. The government is also revising finance laws and strengthening rules with the 21st Amendment since September 2022. This fights against big corruption problems and high project costs.

The struggle for responsibility goes beyond just the government. It includes legal steps and positive work with the community. Sri Lanka keeps its budget deficit under a 5 Percent Rule. This is part of careful economic management. Talks with the International Monetary Fund (IMF) about tax and money plans are key. This will help fix weaknesses and bring more accountability. Making the youth part of anti-corruption talks is also a goal. Sri Lanka wants to ensure transparent leadership for a strong future.

Sri Lanka Central Bank Raises Interest Rates 2023

The Central Bank of Sri Lanka has raised key policy interest rates to fight inflation. This move aims to support economic recovery and align with IMF negotiations. The CBSL increased the SDFR and SLFR by 100 basis points each.

This rate hike addresses Sri Lanka’s high inflation, which peaked in September 2022. The economy shrank by 9.2% last year, with inflation hitting 50% in February. The central bank had already raised rates by 950 basis points in 2022.

Central Bank Raises Interest Rates to Combat Soaring Inflation

The CBSL’s decision aligns with IMF staff recommendations. It’s a key step towards securing the $2.9 billion IMF bailout package. Sri Lanka is restructuring its debt before IMF funds can be released.

The country seeks approval under a special Lending Into Official Arrears policy. India and the Paris Club of creditors have offered their support in this process.

These changes aim to reduce the gap between policy and market interest rates. The CBSL expects single-digit inflation by late 2023. They also anticipate a continued decrease in market interest rates.

Stable monetary policies are crucial for Sri Lanka’s economic recovery. They support long-term growth and reinforce the importance of price stability. These measures are essential for sustained economic development in the country.

Central Bank Raises Interest Rates to Combat Soaring Inflation

Sri Lanka’s Central Bank has raised policy interest rates to tackle rising inflation. This action aligns with IMF negotiations and the Extended Fund Facility arrangement. The goal is to reduce the gap between policy and market interest rates.

This move aims to ease pressure on consumer spending and the overall economy. It’s a crucial step towards economic stability and growth.

Interest rates and cost of borrowing

Monetary Board Decision to Raise Policy Interest Rates

The Central Bank’s Monetary Board agreed with IMF staff to increase policy interest rates. The raise was smaller than initially planned during negotiations. This decision helps fulfill ‘prior actions’ needed for the IMF Extended Fund Facility arrangement.

Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) Increased

The Monetary Board increased the Standing Deposit Facility Rate to 15.50%. They also raised the Standing Lending Facility Rate to 16.50%. These changes took effect from March 3, 2023.

This decision shows the Central Bank’s commitment to fighting inflation and stabilizing the economy. It’s a significant step towards financial stability.

Policy Rate	Previous Rate	New Rate (Effective 03 March 2023)
Standing Deposit Facility Rate (SDFR)	14.50%	15.50%
Standing Lending Facility Rate (SLFR)	15.50%	16.50%

Impact on Lending Rates and Cost of Borrowing

The policy interest rate increase will affect lending rates and borrowing costs in Sri Lanka. Higher rates may reduce consumer spending and investment as borrowing becomes pricier.

However, this measure is crucial to control inflation and prevent future economic instability. It’s a necessary step towards long-term financial health.

Reasons Behind the Interest Rate Hike

Sri Lanka raised interest rates to support its IMF-EFF arrangement. This move aims to boost economic stability and attract foreign exchange. It’s part of ongoing talks with the IMF to tackle economic challenges.

The Monetary Board expects this hike to close the gap between policy and market rates. As Sri Lanka restructures its debt, this gap should shrink further. This will create a more stable financial environment for growth.

Negotiations with the International Monetary Fund (IMF)

Sri Lanka is working closely with the IMF for economic recovery. The IMF’s support is crucial for addressing current challenges. Their involvement will guide economic reforms and debt restructuring for long-term stability.

Commitment to the IMF Extended Fund Facility (EFF) Arrangement

The interest rate hike shows Sri Lanka’s dedication to the IMF-EFF plan. This plan outlines steps for economic recovery. Following this arrangement aims to restore confidence and attract foreign investment.

Aim to Lower the Spread Between Policy Interest Rates and High Market Interest Rates

Raising interest rates should help align policy and market rates. This alignment is key for financial stability. As debt restructuring progresses, the rate spread should narrow further.

Conclusion

The Central Bank of Sri Lanka’s interest rate hike aims to ensure price and economic stability. This decision aligns with the IMF Extended Fund Facility (EFF) arrangement. It’s a crucial step towards normalizing the interest rate structure and combating inflation.

The rate increase is expected to quickly slow down inflation. Similar actions by central banks worldwide have shown positive results. The US Federal Reserve and European Central Bank have also raised rates to address rising prices.

Rising rates may challenge emerging economies’ financial stability and capital inflows. However, Sri Lanka remains committed to overcoming these obstacles. The country’s focus on stability aims to create a growth-friendly environment.

The recent surge in Sri Lanka’s agricultural exports shows the nation’s resilience. This growth potential supports the country’s economic recovery efforts.

Sri Lanka’s proactive approach to economic challenges is clear. The Central Bank’s actions and commitment to the IMF arrangement demonstrate this. These efforts position the country well for sustainable growth and a prosperous future.

Sri Lanka’s Foreign Reserves Rebound to $5.5 Billion

Foreign Reserves Rebound to $5.5 Billion by April 2024

Sri Lanka has faced tough times, but it’s making a comeback. The nation’s foreign reserves reached $5.5 billion by. This shows stability is returning, thanks to effective policies and global teamwork.

Rebuilding international currency reserves was a huge task, especially after the pandemic’s hit. By focusing on strong fiscal strategies and important reforms, Sri Lanka is moving towards financial wisdom.

The nation is now seeing signs of improvement in many areas. This progress brings hope for its economic future. Sri Lanka’s smart response to global economic challenges has earned it praise for its financial strategies.

Impact of Historical Economic Challenges on Sri Lanka’s Reserves

Sri Lanka has faced many economic challenges, including the COVID-19 pandemic. These have greatly changed its financial path and economic growth forecast. The country’s central bank balance and monetary policy implications have been heavily affected. The crisis times have greatly disturbed Sri Lanka’s reserves.

Economic Challenges Impacting Sri Lankan Reserves

The COVID-19 Pandemic’s Influence on Tourism and Growth

The tourism sector is vital for Sri Lanka’s economy but suffered greatly due to the pandemic. The World Bank had high hopes, but reality showed a sharp drop. Tourism income fell from an average of $3,682 million to just $507 million in 2021. This big loss hurt the foreign exchange rates and international currency reserves.

Energy and Food Crisis: Spending Spikes and Revenue Declines

After the pandemic began, Sri Lanka faced a crisis in energy and food. The government had to spend more to help its people. High spending and lower income, especially from energy, put more pressure on the central bank balance. This made it hard for foreign reserves to rebound to $5.5 billion by April 2024, showing how global and national economies are linked.

However, spending less on fuel imports helped a bit. It indirectly stabilized foreign reserves by reducing money flow out.

Consequences of Reliance on Domestic Financing Amid Global Downturn

Lower prices of International Sovereign Bonds made Sri Lanka use more domestic financing. This led to a big increase in the Central Bank of Sri Lanka’s credit to the government. It shows a move towards a focus on domestic finance, which is key for monetary policy implications. Yet, it also shows weaknesses in local finance during global economic problems.

Domestic economic activities got a small boost from easier monetary policies. There was a small rise in credit for the private sector, helping to slowly improve economic activities. The World Bank’s loan is crucial for balanced growth. Yet, it’s a delicate balance to maintain.

The crisis times have offered important lessons on Sri Lanka’s financial and economic strategies. These strategies are crucial to stabilize and slowly improve the nation’s reserves and overall economic well-being.

Foreign Reserves Rebound to $5.5 Billion by April 2024

In a world where markets and economies are always changing, Sri Lanka shows hope. Its financial stability indicators have sprung back up. This is a key sign that things are getting better for the country’s money matters. First Capital Research tells us that by April 2024, Sri Lanka’s foreign reserves hit $5.5 billion. This big improvement is seen across Asia-Pacific, showing that the government’s smart choices are paying off.

By sticking it out through tough times, Sri Lanka is nearer to its growth goals. The boost in foreign reserves is crucial. It helps keep important imports coming and guards against sudden money problems. This success comes from wise policy decisions and working closely with international groups, like the IMF. Also, policies like the interim debt standstill have been vital in keeping the economy stable.

Now, Sri Lanka might get more help, with an extra $1.2 billion possibly coming from G-20 countries in 2020. This could make the country’s money situation even better. A big part of this brighter future is thanks to more tourists coming, especially from Europe and Asia-Pacific. This jump in visitors brings in more cash and proves that new government plans and visa rules are working well. For those looking to dive deeper into how Sri Lanka is managing its debts and boosting tourism, check out more info here and here.

So, reaching $5.5 billion in foreign reserves is not just good news; it’s a major step forward. It shows Sri Lanka is serious about handling its finances wisely and planning for the future. This matches OMP Sri Lanka’s goal of keeping everyone informed about the country’s progress.

Dr. Hans to Step Down from Axiata Group to Lead SL

Dr. Hans Wijayasuriya, a key figure in telecommunications, is leaving Axiata Group. He’s been with them for over 30 years. He played a major role in markets like Malaysia, Indonesia, and others. Now, he’s moving to head Sri Lanka’s digital drive.

Dr. Wijayasuriya won the 2024 GSMA Chairman’s Award for his global mobile industry work. He’s the new Chief Advisor to Sri Lanka’s President on Digital Economy. His work starts on January 15, 2025, advising on digital policies.

He’s still helping Axiata Group as CEO of Telecommunications Business. He’ll hold this position until he starts his new role in Sri Lanka. There, he aims to enhance the digital landscape. This move could position Sri Lanka to top Asian Frontier Markets in 2025.

Dr. Hans to Step Down from Axiata Group to Lead SL’s Digital Economy Agenda

Dr. Hans Wijayasuriya’s Departure from Axiata Group

For over three decades, Dr. Hans Wijayasuriya played a key role at Axiata Group. His work led to major changes in the telecommunications industry. He also began a leadership transition and corporate restructuring. Wijayasuriya’s guidance helped Axiata grow and reach new markets.

Celebrating a 30-Year Tenure and His Role in Telecommunications

Dr. Wijayasuriya spent more than 20 years leading Dialog Axiata. Under his watch, it grew into a top player in its market. With over 11 million customers, it moved from 4th to 1st place because of his efforts.

Axiata Group Leadership and Global Mobile Industry Impact

With Dr. Wijayasuriya in charge, Axiata Group made huge investments in Sri Lanka reaching $1.9 billion by 2015. He led the acquisition of MTT and expanded services. His push for digital solutions made Axiata a tougher competitor.

His work boosted Axiata’s operations and set the stage for future leadership. Key milestones during his time are listed in the table below:

Year	Event	Impact
1997-2000	Transition to Market Leader	Established as No. 1 in Mobile Industry
2008-2009	Restructuring and Downsizing	Rebounded within 6-8 Quarters Post-restructuring
2015	Investment in Sri Lanka	Reached $1.9 Billion, Expanding Market Dominance

Transition Plan for Axiata Group and the Role of Dr. Wijayasuriya until 2025

Dr. Wijayasuriya is getting ready to leave. But a strong leadership transition plan is in place. He will advise until 2025 to help Axiata and Sri Lanka’s digital future. For more on Sri Lanka’s economy and politics, check this article.

This careful planning shows Dr. Wijayasuriya’s impact. It prepares future leaders for the changing world of telecommunications.

Dr. Hans to Step Down from Axiata Group to Lead SL’s Digital Economy Agenda

Dr. Hans Wijayasuriya is making a big change. He’s moving from Axiata Group to lead Sri Lanka’s digital economy. His goal is to boost technology use in different sectors to help the economy grow.

Appointment as Chief Advisor to President on Digital Economy

Dr. Wijayasuriya is now the Chief Advisor to President Anura Kumara Dissanayake. This move is huge for adding digital tech in government. He will focus on making departments like Customs and Inland Revenue work better online.

He plans to work with others to make the economy stronger through tech. This includes sharing technology and working together on economic development.

Strategic Vision for Sri Lanka’s Digital Transformation

Dr. Wijayasuriya has big plans for Sri Lanka’s digital future. He wants to spend money on digital tools and train a tech-savvy workforce. His aim is to make the country a tech leader in the area.

He has a plan that uses resources from both the public and private sectors. The goal is to remake digital systems to help Sri Lanka’s economy.

Leveraging Technology Adoption for Economic Development

Dr. Wijayasuriya believes using technology well can grow the economy. He wants to digitalize how the government works and support tech start-ups. The plan is to build a place where new tech leads to growth.

Working with global tech leaders is key to this strategy. Their expertise and money are important. They’ll help Sri Lanka grow in a digital world, offering both sustainability and big economic pluses.

Future Prospects: Envisioning Sri Lanka’s Digital Economy Under New Leadership

Sri Lanka’s digital economy is ready for a big change. Dr. Hans Wijayasuriya is leading this change. As the head of Dialog Axiata PLC, he brings a lot of experience. Dialog Axiata is the largest listed company on the Colombo Stock and the top foreign investor in the country. Under his leadership, Dialog Axiata’s revenue went up to Rs. 141.9 billion. This was an 18% increase from the year before, showing the power of strong digital infrastructure.

Dialog Axiata has over 17 million subscribers. In 2021, they invested about Rs. 31.7 billion in connectivity. This shows their commitment to improving Sri Lanka’s digital landscape. Because of this investment, revenue from Mobile and Fixed Broadband grew by 10% and 39%, respectively. With Dr. Wijayasuriya’s vision, Sri Lanka’s digital economy is set to get even better.

Dr. Wijayasuriya also advises the President on the digital economy. This shows Sri Lanka’s focus on digital growth. The Sri Lanka Digital Marketing Summit 2023 is a big event. It has leaders from big companies like Google and Meta. Dialog Axiata is the main sponsor and plays a big role in organizing it. This underlines their importance in boosting Sri Lanka’s digital ecosystem. Despite economic challenges, the push for digital growth is strong. This promises a future where technology leads to progress and resilience.