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In a pioneering transfer to bolster the small and medium-sized enterprise (SME) sector in Sri Lanka, the apex physique of the ICT trade, FITIS, has unveiled the “DigiGo” Digital Playbook for SMEs. The launch occasion happened at a press convention not too long ago on the President’s Media Centre, (PMC). Organized by the FITIS Digital Providers Chapter, in collaboration with LKDomain Registry and underneath the patronage of the Ministry of Industries & Plantation Industries, in addition to the Ministry of Know-how, DigiGo goals to function a complete useful resource for SMEs looking for inexpensive native digital providers, guiding them on their journey in direction of digital transformation.
Addressing the gathering State Minister of Know-how, Kanaka Herath, emphasised the pivotal function of know-how in propelling the expansion of the SME sector. He underscored how know-how can present options to the widespread challenges confronted by SMEs, together with accessing seed capital, increasing into new markets, overcoming useful resource constraints and addressing logistical points. He additionally expressed his enthusiasm for collaborating with FITIS to launch the DigiGo initiative, which he believes will considerably improve the SME sector within the nation.
Moreover, the Minister highlighted that the federal government has initiated the “Digicon 2030” program, with the first goal of formulating a nationwide digital financial coverage for the 12 months 2030. This initiative was a collaborative effort between the Ministry of Know-how, the trade and with the assist of the World Financial institution (WB). The ensuing doc was formally offered to President Ranil Wickremesinghe. Notably, SMEs have been recognized as one of many six key pillars in shaping the digital financial system technique. This underscores the significance of supporting SMEs in reaching the aims of the digital financial technique.
The State Minister of Know-how, acknowledged the prevalent problem of restricted digital schooling amongst SMEs, particularly these exterior main city centres like Colombo and Kandy. In response, DigiGo will function a guiding useful resource, enabling SMEs to discover accessible digital platforms and absolutely embrace some great benefits of going digital. This system plans to host quarterly DigiGo occasions in all 25 districts by 2030, making certain the widespread dissemination of digital data.
With the latest launch of DigiGo, Minister Herath emphasised its function in selling consciousness about digital transformation and the advantages it gives to all SMEs in Sri Lanka. The DigiGo digital playbook, unveiled throughout the launch, serves as a singular platform showcasing a wide selection of obtainable digital providers, creating alternatives for enterprise development and enlargement within the digital sphere. The inaugural occasion, scheduled to start on October twentieth in Galle, is deliberate to broaden its attain to all 25 districts by way of collaboration with native enterprise communities. FITIS, in partnership with the Ministry of Know-how and numerous private and non-private stakeholders, will facilitate these periods, geared toward empowering SMEs to embrace the digital period and unlock their full potential.
In a major improvement, Ms. Chio Kenda, the World Financial institution Nation Supervisor for Maldives and Sri Lanka, unveiled the “DigiGo Innovate Digitally to Succeed” initiative throughout her speech. She underscored the potential for digital improvement to handle each international and native challenges, emphasizing its function in job creation, market enlargement and the enhancement of entry to finance. As Sri Lanka navigates its manner out of an financial disaster and units forth on the trail to restoration, the strategic improvement and implementation of a nationwide enterprise technique by 2030 are deemed essential steps.
On a worldwide scale, the digital financial system presents substantial alternatives for SMEs to make important contributions to nationwide incomes. Within the 12 months 2023, business-to-consumer e-commerce recorded gross sales of practically US $6 trillion. With over 1.7 million SMEs propelling financial development in Sri Lanka and driving employment, they collectively characterize roughly 90% of all companies within the nation. They’re liable for offering 45% of the nation’s employment alternatives and contribute to virtually half of the nation’s GDP.
Nevertheless, SMEs, whether or not on a worldwide scale or within the Sri Lankan context, face distinctive challenges in the case of embracing digital transformation. These challenges embrace constraints associated to restricted sources, data and digital experience. Such limitations hinder the potential for enterprise development, innovation and the attainment of financial and social inclusivity. To deal with these widespread challenges, the Digital Aim Programme has been established as a collaborative endeavour, that includes lively participation from the personal sector, authorities and native stakeholders, with the important assist of related companions.
In her tackle, it was disclosed that the World Financial institution takes pleasure in its function as a data companion on this digital program and applauds the central give attention to decentralizing SMEs inside the upcoming nationwide digital technique. The establishment has dedicated to offering on-going technical assist to each the federal government and the personal sector as they collaborate to form the 2030 technique for a digital Sri Lanka. These collaborative efforts are geared toward boosting financial competitiveness, fostering expertise improvement and finally facilitating the creation of higher-paying jobs inside the nation.
The inaugural DigiGo occasion, which is regionally deliberate, is scheduled to happen on October twentieth in Galle, underneath the steerage of Dr. Ramesh Pathirana, Minister of Industries & Plantation Industries, and Kanaka Herath, State Minister of Know-how. The World Financial institution’s assist for this occasion underscores its dedication to advancing Sri Lanka’s digital transformation in alignment with the nation’s digital financial system technique.
Mr. Indika De Zoysa, Chairman of FITIS, unveiled the ground-breaking DigiGo initiative, highlighting the myriad alternatives it gives by way of digital applied sciences. DigiGo, from knowledge analytics to e-commerce, goals to supply SMEs with a platform for data sharing, that includes insights from trade specialists and thought leaders on rising traits, greatest practices and techniques driving digital innovation.
SMEs, which contribute 52% to Sri Lanka’s GDP and characterize over 75% of companies, have lengthy been the spine of the financial system, providing 45% of employment and contributing 20% to exports, as per the Asian Improvement Financial institution (ADB). Acknowledging their pivotal function within the nation’s financial revival, the federal government has designated them as a key pillar within the “Digital Financial system Technique 2030.” DigiGo is poised to propel Sri Lanka’s digital financial system by bridging the technology-business hole, fostering a thriving digital ecosystem, with a particular give attention to the 1 million+ SMEs throughout the island.
The occasion was attended by Professor Gihan Dias, a founder member of DigiGo, Omar Sahib, President of the FITIS Digital Providers Chapter, Chief Government Officer of LankaPay Chandran De Silva and different officers.
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