I decided to write an article giving my vision of technology investments in Sri Lanka. I think technology multinationals are companies Sri Lanka should try to attract foreign direct investments (FDIs) from. Sri Lanka can focus on getting these companies to set-up their Sri Lankan operations with modern buildings being constructed. One area getting these companies to focus on is the South Asian region with South Asian headquarters being a possibility. If that’s too difficult an investment to obtain, another option is having a software development centre for South Asia. This includes India which is one of the most populated countries in the world. This would bring a massive number of Sri Lankan jobs.
In my previous article “Five Export Diversification Options for Sri Lanka”, two of the options I mentioned are computers & electronics and visual effects for Hollywood. As part of this, we can get technology companies to set-up manufacturing operations in Sri Lanka and attract global visual effects companies to have Sri Lankan offices.
Technology multinationals can bring advanced technology to Sri Lanka. These companies could offer modern services using this technology to the Sri Lankan market directly and also collaborate with others in Sri Lanka. I envision collaborations using this technology being agreements with Sri Lankan companies in the private sector to sell services through it and secure Sri Lankan government contracts with it. Tech companies could also do work for the Sri Lankan government on digitisation. I see their charitable activities as using their technology and expertise to benefit the poor and rural Sri Lanka.
This is a small selection I gave of the value of tech investments into Sri Lanka. There are many more possibilities I didn’t mention. Professionals involved in Sri Lanka’s technology sector and in obtaining FDI could expand on this with more detailed proposals. I’d be interested to hear if you have any ideas on tech investments in Sri Lanka. As Colombo has new buildings constructed, I am of the view that technology companies are a good sector for us to attract to enhance this contemporary trend.
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