Economy Archives - Page 4 of 11

Sri Lanka’s ISF Partners with Indonesia’s NICO COCO

Sri Lanka’s ISF and Indonesia’s NICO COCO have formed a strategic partnership. They signed a Memorandum of Understanding at the INASCA Business Forum in Jakarta. This collaboration aims to advance technology and develop value chains in coconut processing.

ISF offers innovative solutions for coconut and dairy processing companies. They focus on reducing costs through improved productivity and automation. Their AI-powered solutions enable real-time management information and cost savings.

Sri Lanka's ISF Partners with Indonesia's NICO COCO to Coconut Processing

NICO COCO, part of an Indonesian conglomerate, will benefit from this partnership. ISF will design modern coconut processing plants for them. This collaboration is expected to boost NICO COCO’s production capacity and efficiency.

The partnership aims to reshape Indonesia’s coconut processing industry. ISF plans to become a leading solutions provider in Southeast Asia. Their combined expertise will drive innovation in the sector.

This agribusiness partnership holds great potential for both companies. It’s set to improve value chain development and set new industry standards. The collaboration will benefit the entire coconut processing industry in the region.

ISF and NICO COCO Sign Groundbreaking MoU for Coconut Processing

Sri Lanka’s ISF and Indonesia’s PT. Natural Indococonut Organik (NICO COCO) have signed a pivotal agreement. The MoU, signed on October 7, 2024, aims to transform coconut processing in Indonesia. ISF will bring its expertise to design cutting-edge facilities for NICO COCO.

ISF is a leading engineering solution provider for coconut and dairy processing in Sri Lanka. Their experience will be crucial in the Indonesian market. The collaboration will focus on designing advanced coconut processing plants.

These plants will incorporate sustainable farming practices and modern technologies. The goal is to optimize production of high-quality tropical crops for export opportunities.

Leading Sri Lankan Company to Design State-of-the-Art Facilities for Indonesian Manufacturer

This partnership is a major milestone in the coconut industry. It combines ISF’s expertise with NICO COCO’s manufacturing prowess. ISF will design custom facilities to boost efficiency, quality, and sustainability in Indonesia’s coconut processing.

Partnership Witnessed by Indonesian Ambassador to Sri Lanka Dewi Gustina Tobing

Indonesian Ambassador to Sri Lanka, Dewi Gustina Tobing, witnessed the MoU signing. Her presence highlights the partnership’s importance for both countries. This collaboration is set to create new opportunities in the coconut industry.

It’s expected to strengthen trade, investment, and knowledge exchange between Sri Lanka and Indonesia. The partnership marks a new chapter in bilateral relations within the coconut sector.

Sri Lanka’s ISF Brings Expertise to Indonesia’s NICO COCO Coconut Processing

ISF, a Sri Lankan company, is set to transform Indonesia’s coconut processing sector. They’ve partnered with PT. Natural Indococonut Organik (NICO COCO). The companies signed an MOU at the INASCA Business Forum in Jakarta.

ISF has nearly five decades of experience in coconut and dairy processing. They provide end-to-end engineering solutions for these industries. This partnership marks a significant milestone in the Southeast Asian market.

ISF’s Expertise in End-to-End Engineering Solutions for Coconut and Dairy Industries

ISF is committed to reducing manufacturing costs through improved productivity. They focus on automation and energy-efficient solutions. This makes ISF a vital partner for NICO COCO’s success.

The company has extensive knowledge in designing modern coconut processing plants. ISF is ready to bring this expertise to the Indonesian market. Their involvement is expected to reshape the industry landscape.

NICO COCO to Benefit from ISF’s Automated Process Solutions with AI Technology

NICO COCO is part of a major Indonesian conglomerate. They recognize ISF Industries as a leading solutions provider for coconut processing. ISF’s automated process solutions incorporate cutting-edge AI technology.

This partnership will give NICO COCO access to real-time management information. It will also provide cost-saving measures. These benefits will help NICO COCO optimize operations and stay competitive.

Collaboration to Strengthen ISF’s Presence in Southeast Asian Market

The ISF-NICO COCO partnership is a strategic move for ISF. It helps them expand their presence in Southeast Asia. ISF will showcase its innovative, tailored solutions to a leading Indonesian manufacturer.

This collaboration positions ISF to attract more opportunities in the region. It solidifies their role as a trusted partner in the coconut processing industry.

Mutual Benefits and Future Prospects of ISF-NICO COCO Partnership

ISF Industries and NICO COCO’s partnership promises a bright future for Indonesia’s coconut industry. This collaboration combines ISF’s technology with NICO COCO’s market presence. It aims to boost economic growth and empower rural communities.

NICO COCO’s operations will be modernized and expanded. This will increase productivity and create new opportunities for local communities. The partnership sets the stage for significant advancements in the sector.

ISF Director Anjula Sivakumaran is excited about the company’s role in Indonesia. They aim to be a leading solutions provider for coconut processing. This partnership is a key step in ISF’s global expansion strategy.

ISF plans to showcase their innovative solutions in Southeast Asia. By working with NICO COCO, they hope to benefit the entire value chain. Their goal is to make a positive impact beyond just the two companies.

This partnership is a major milestone for Indonesia’s coconut industry. It brings together two key players committed to progress and growth. The collaboration is expected to generate new opportunities and foster innovation.

ISF and NICO COCO aim to strengthen the sector’s competitiveness. Their shared vision focuses on mutual benefits and long-term impact. This partnership sets an example for cross-border cooperation in the region.

Sri Lanka Secures $1B World Bank Loan for Recovery

The World Bank has approved a $1 billion loan for Sri Lanka’s economic recovery. This aid package will support debt restructuring and promote key economic reforms. It aims to help the country overcome its severe financial crisis.

Sri Lanka Secures $1 Billion Loan from World Bank for Economic Recovery

Sri Lanka has been facing its worst economic crisis since independence. The funds will help create a fair economy. They will also protect vulnerable groups during recovery.

President Anura Kumara Dissanayake took office last month amid public unrest. He has promised to stabilize the economy and ease citizens’ hardships. The World Bank’s assistance is crucial in supporting these efforts.

World Bank Approves $200 Million Loan to Support Sri Lanka’s Economic Reforms

The World Bank has approved a new $200 million loan to support Sri Lanka’s economic reforms. This follows the country’s worst financial crisis in recent history. The loan adds to an earlier $500 million provided after the 2022 economic crash.

World Bank loan for Sri Lanka economic recovery

President Anura Kumara Dissanayake welcomed the new loan. He said it would help create a fair economy for all Sri Lankans. The funds will support reforms to boost growth and build resilience.

New Loan Follows Earlier $500 Million World Bank Loan After 2022 Economic Crash

The latest loan adds to the $500 million given after Sri Lanka’s 2022 crisis. During this time, the country defaulted on its external debt. The total $700 million in loans aim to stabilize the economy and support reforms.

Loan to Help Foster an Equitable Economy and Protect the Vulnerable

The new loan focuses on building a fairer economy for all. It includes measures to strengthen social safety nets. This will help protect those hit hardest by the economic downturn.

Loan Amount	Purpose
$200 million	Support economic reforms, foster equitable growth
$500 million	Immediate support after 2022 economic crash

With this World Bank support, Sri Lanka aims to boost its economic recovery. The country plans to implement needed reforms and build a stable economy. The path ahead is tough, but these loans offer hope for a stronger future.

Sri Lanka’s Economic Crisis and Road to Recovery

Sri Lanka faced a severe economic meltdown in 2022. It led to the country’s first external debt default amid its worst financial crisis. The economy shrank by about 8%, with food inflation soaring over 90%.

Authorities reported an inflation rate of around 50%. This showed a reduction but still indicated significant economic strain on consumers. Months of protests over shortages of essentials led to President Gotabaya Rajapaksa’s ouster.

The World Food Programme reported that one-third of Sri Lankan families faced food insecurity. The government raised electricity tariffs by 75% in August 2022 and 66% in February 2023. These measures aimed to address the ongoing crisis.

New President Anura Kumara Dissanayake Elected on Platform of Reversing Tax Hikes and Raising Public Sector Wages

Leftist President Anura Kumara Dissanayake won the election due to public resentment. He promised to reverse steep tax hikes and raise public servant salaries. He also pledged to renegotiate an unpopular $2.9 billion IMF bailout.

Despite these efforts, poverty has increased for four straight years. Industrial indicators remain weak. Cement consumption is low, and favorable base effects driving disinflation are fading. Housing, utilities, and fuel are the main drivers of headline inflation.

Economic Indicator	Status
Growth	Turned positive in H2 2023
Yield Curve	Inverted yield curve normalized somewhat in early 2024
Private Sector Credit	Expanded due to reduction in interest rates
Tourism	Remains below pre-COVID levels
Rupee	Gradually appreciating
Net Foreign Assets	Improving in the banking system
Primary Balance	Surplus achieved through new revenue measures and curtailed expenditure
Domestic Interest Payments	Risen sharply
Labor Force Participation	Continues to worsen in urban areas
Household Debt	Increasing to meet daily food requirements

Sri Lanka secured a $3 billion loan from the IMF over four years. This marks the country’s 17th deal with the IMF since 1965. The loan approval includes conditions to address corruption and support economic stability.

Sri Lanka Secures $1 Billion Loan from World Bank for Economic Recovery

Sri Lanka has secured $1 billion in World Bank assistance to support its economic recovery efforts. The loans aim to facilitate crucial policy reforms and foster economic stabilization. This financial boost comes after the 2022 crisis.

The World Bank’s package includes a recent $200 million loan. This follows an earlier $500 million loan provided after the 2022 economic crash. These funds will help Sri Lanka implement reforms and protect vulnerable populations.

Sri Lanka has shown signs of economic recovery in 2023. The country’s real GDP grew by 1.6 percent year-on-year in the third quarter. This marks the first expansion in six quarters.

Inflation eased to 4% in December 2023 from 51.7% in January. Foreign reserves increased to $4.4 billion at the end of 2023. This is up from $1.9 billion in December 2022.

The Asian Development Bank (ADB) has also committed substantial support to Sri Lanka. They’ve provided $11.8 billion in loans, grants, and technical assistance.

Economic Indicator	2022	2023
GDP Growth	-7.8%	-2.3%
Inflation (December)	–	4%
Foreign Reserves (December)	$1.9 billion	$4.4 billion
Poverty Rate	25%	–

The World Bank’s support is vital for Sri Lanka’s economic recovery. It focuses on key policy reforms and economic stability. The country aims to build a more resilient and fair economy for its citizens.

Conclusion

The World Bank’s $1 billion loan approval is a game-changer for Sri Lanka’s economic recovery. This support is crucial as the country works to stabilize finances and restructure debt. President Anura Kumara Dissanayake leads the implementation of growth-oriented policies.

Sri Lanka’s economic outlook shows promising signs. Foreign currency reserves have reached $2.69 billion, increasing 23.5% from September 2022 to February 2023. However, challenges remain with a high debt-to-GDP ratio and the aftermath of sovereign debt default in 2022.

The new government’s reform agenda aims to create an equitable economy and protect vulnerable populations. These measures are vital for addressing challenges and promoting sustainable growth. Education reforms focusing on digitization and modernization will boost long-term development.

Continued support from the World Bank and other partners is essential for Sri Lanka’s recovery. The country must balance reforms with public concerns, especially after recent protests. Transparent governance and inclusive growth are key to ensuring a brighter future for all Sri Lankans.

Sri Lanka Stocks Rally as ASPI Surges 15% in 2024

The Sri Lankan stock market bounced back strongly in early 2024. The All Share Price Index (ASPI) jumped by 15%. This surge shows growing investor trust in the country’s economic stability.

The Colombo Stock Exchange (CSE) saw busy trading days. Daily turnover ranged from Rs. 3.3 billion to Rs. 5.3 billion. Nine straight positive sessions highlighted the market’s strong performance.

Stock Market Recovers, ASPI Gains 15% in First Half of 2024

The blue-chip S&P SL20 index also grew, rising 2.41% to 2,794.15 points. Better-than-expected company earnings fueled this growth. The nation’s economy looks promising, with GDP growth predicted to hit 2-3% by year-end.

Offboard deals on specific stocks made up 15% of total turnover. These deals involved companies like Watawala Plantations and Commercial Bank of Ceylon. This shows strong investor interest in these firms.

The bull market proves Sri Lanka’s economic resilience. It’s attracting both local and foreign investors. As the rally continues, it’s expected to boost overall economic growth.

Stock Market Recovers, ASPI Gains 15% in First Half of 2024

The Sri Lankan stock market has shown impressive growth in 2024’s first half. The All-Share Price Index (ASPI) jumped 15%, while the S&P 20 rose 19%. Lower inflation rates and interest rates have boosted investor confidence.

Inflation Eases and Interest Rates Decline, Boosting Investor Confidence

Falling inflation and interest rates have fueled the stock market’s recovery. Investors now feel more optimistic about listed companies’ future. Quarterly interest costs for core companies have dropped significantly since 2020.

Sri Lanka stock market performance

Foreign Inflows Contribute to Market Rally

Foreign portfolio investment has driven the market rally. As the economy improves, foreign investors have become net buyers. Completing external debt restructuring is vital for market sentiment.

Sticking to the IMF reform program is crucial for sustained growth. Any deviation may create uncertainty and discourage foreign investor participation.

Key Sectors Like Capital Goods and Diversified Financials Lead the Surge

Capital Goods and Diversified Financials sectors are leading the market recovery. These companies have reported strong earnings growth and improved profitability. The banking sector is expected to see a re-rating.

Core earnings will be driven by loan growth amid positive GDP expectations. Non-Banking Financial Institutions should benefit from the current declining interest rate cycle.

Sector	Allocation
Banks/NBFI	30%
Conglomerates	25%
Manufacturing	20%
Consumer	15%
Leisure	10%

Increased trading volume and investor participation have supported market growth. Small to mid-cap companies may outperform large caps due to falling fixed-income yields. CSE earnings are expected to grow by 15.0% in 2024.

The ASPI target is set at 13,800 levels by year-end. The Sri Lankan stock market is ready for further growth and recovery.

Factors Driving the Bull Market

Sri Lanka’s stock market bull run stems from improved economic outlook and investor sentiment. Successful debt restructuring talks led to an IMF agreement for a $2.90 billion Extended Fund Facility. This boosted investor confidence, showing the government’s commitment to economic reforms.

Government reforms and the IMF program have stabilized the macroeconomic environment. Inflation dropped to about 35% in April 2023 from over 70%. Market-based pricing for fuel and cooking gas has aided the economic turnaround.

Sri Lanka has made progress in overcoming its economic crisis. The tourism sector’s rebound has been a key factor in 2023’s economic growth.

Lower Inflation and Interest Rates Spark Multiple Expansion for Equities

Falling inflation and interest rates have fueled the Sri Lankan stock market bull run. Inflation is expected to hit single digits by Q3 2023. This has made investors more optimistic about the country’s economic future.

Lower interest rates have led to higher stock prices. Investors are willing to pay more due to improved earnings visibility. The Sri Lankan Rupee gained about 10% in February 2023 alone.

Successful Debt Restructuring Negotiations Improve Economic Outlook

Debt restructuring talks have been a game-changer for Sri Lanka’s economy. Foreign debt was 55% of total debt in early 2022. The IMF agreement and fiscal plans have greatly improved the economic outlook.

This has boosted various sectors, like Financial Services and Leisure. Maldivian Resorts and Colombo Hotels have performed well. The Group’s Bunkering business has seen higher profits from fuel prices and volumes.

Government Reforms and IMF Extended Fund Facility Program Support Recovery

Government reforms and the IMF program provide a strong base for Sri Lanka’s recovery. These measures address macroeconomic imbalances and set the stage for future growth. The Group reported 17% EBITDA growth to Rs.45.74 billion despite challenges.

The Supermarket business showed resilience with 45% EBITDA growth to Rs.7.46 billion. Ongoing reforms and fiscal discipline are expected to brighten economic prospects. This provides a solid foundation for the continuing bull market in Sri Lankan stocks.

Annual Literary Festivals Celebrate Sri Lankan Writing and Poetry

Sri Lanka’s literary scene thrives through yearly festivals celebrating the nation’s rich writing traditions. These Annual Literary Festivals Celebrate Sri Lankan Writing and Poetry showcase local talent in Sinhala, Tamil, and English literature. The festivals provide a platform for established and emerging writers to share their works.

The Fairway Galle Literary Festival stands out, held annually in the historic Dutch Galle Fort. Its 2018 edition featured over 110 events, including film appreciation, poetry readings, and gourmet dinners. The festival also recognized outstanding local talent through the Fairway National Literary Awards.

Attendees can engage with renowned international authors at these events. Lord David Puttnam, a British film producer with numerous accolades, has participated. Alexander McCall Smith, author of over 100 books, and Richard Flanagan, a Man Booker Prize winner, have also attended.

These festivals promote and preserve Sri Lanka’s literary heritage. They encourage the growth of Sinhala, Tamil, and English literature. The events nurture emerging writers and poets, celebrating the power of storytelling.

events foster appreciation for the art of language. They provide diverse programs catering to various interests. Multiple concurrent sessions and book launches take place throughout these literary gatherings.

Galle Literary Festival: A Premiere International Event

Since 2007, the Galle Literary Festival has become South Asia’s most anticipated literary event. It unites acclaimed authors in an intimate setting. The festival fosters engaging discussions, writing workshops, and cultural experiences.

The festival offers diverse activities for book lovers. These include panel discussions, poetry readings, and literary lunches. It takes place in Galle Fort, a UNESCO World Heritage Site.

Showcasing Sri Lankan and International Authors

The festival has featured over 70 events and hosted numerous writers. More than 40 international and 50 Sri Lankan authors have participated. This lineup showcases both local and global literary talent.

Diverse Program of Literary Events and Cultural Experiences

Attendees can enjoy a wide array of literary and cultural activities. These include thought-provoking panel discussions and intimate writing workshops. Enchanting poetry readings and delightful literary lunches are also part of the program.

Set in the Historic Galle Fort, a UNESCO World Heritage Site

The festival’s location in Galle Fort adds to its charm. The fort’s colonial architecture provides a magical backdrop. This setting creates an inspiring and unforgettable atmosphere.

Harper’s Bazaar Magazine UK named it the “No.1 Literary Festival in the world” in 2011. After a three-year break, it returned spectacularly in 2016. This comeback reaffirmed its status as a premier literary event.

Other Notable Literary Festivals in Sri Lanka

Sri Lanka boasts a vibrant literary scene beyond the Galle Literary Festival. Several events showcase the island’s rich literary heritage. These festivals celebrate Sinhala, Tamil, and English literature, giving writers platforms to share their works.

The Jaffna Poetry Festival highlights Tamil poets’ resilience and creativity. It unites poets from Sri Lanka and the diaspora, promoting cultural exchange. Attendees enjoy poetry readings, workshops, and discussions on Tamil literature.

Colombo International Book Fair

The Colombo International Book Fair is a key event in Sri Lanka’s literary calendar. It draws publishers, authors, and book lovers from across the country. Visitors can explore books, attend launches, and join literary discussions.

The fair promotes reading culture and supports the local publishing industry. It serves as a platform for literary enthusiasts to connect and share ideas.

Smaller literary events occur throughout the year. The Kandy Writers’ Collective unites writers from central Sri Lanka. The Kilinochchi Book Fair and Batticaloa Writers’ Forum celebrate literature in northern and eastern provinces.

These events offer writers chances to network, collaborate, and share their works. They provide platforms for both established and emerging authors to connect with readers.

Sri Lanka’s literary festivals showcase talent and boost the economy. The Galle Literary Festival drew thousands to the south coast in 2024. It provided a significant economic boost for Galle and Sri Lanka.

The Colombo Stock Exchange (CSE) reported positive economic indicators. Sri Lanka’s stock market became Asia’s second-best performing equity market as of October 25, 2024. It showed a 29.65% year-to-date return in USD terms.

Annasi and Kadalagotu Literary Festival

The Annasi and Kadalagotu Literary Festival celebrates both Sinhala and Tamil literature. It aims to foster cultural exchange between the two communities. The event highlights Sri Lanka’s shared literary heritage.

Attendees can enjoy poetry readings, book launches, and panel discussions. Authors from both languages participate, promoting understanding and appreciation of diverse literary traditions.

Literary Festivals Celebrate Sri Lankan Writing and Poetry

Sri Lanka’s literary festivals showcase the nation’s rich heritage. They celebrate established and emerging writers in Sinhala, Tamil, and English. These events promote new voices and preserve Sri Lanka’s cultural legacy.

The Galle Literary Festival, started in 2005, is a top international event. It attracts renowned authors and intellectuals worldwide. The festival offers author talks, panel discussions, book launches, and workshops.

In 2024, the 11th edition will feature international authors. It will explore themes in fiction, non-fiction, and poetry. The event engages readers of all ages and interests.

Other notable festivals include the Jaffna Literary Festival and Colombo International Book Fair. These events showcase emerging writers through poetry slams and competitions. They help grow and preserve Sri Lankan literature.

Preserving Sri Lanka’s Cultural Legacy

These festivals celebrate writing and preserve Sri Lanka’s cultural heritage. They promote works in Sinhala, Tamil, and English. This highlights the diversity of Sri Lankan literature.

The events foster cultural exchange and community engagement. They nurture a love for the arts. This ensures Sri Lanka’s literary traditions thrive for future generations.

Conclusion

Sri Lanka’s annual literary festivals are vital to its literary community. They celebrate writing and poetry in Sinhala, Tamil, and English. These events showcase authors’ works and foster intellectual exchange.

The Galle Literary Festival and others draw global participants. Writers, poets, and literary fans come together at these events. They offer diverse programs like book readings, panel discussions, and workshops.

These festivals preserve and promote Sri Lanka’s literary heritage. They encourage new talent and inspire love for literature in younger generations. The events bring authors and readers together, celebrating the power of words.

Literary festivals strengthen Sri Lanka’s position in South Asian literature. They showcase the country’s rich cultural traditions and artistic expression. These events continue to grow in popularity and scope.

Sri Lanka President Demands Fast Digital ID Rollout

President Anura Kumara Dissanayake of Sri Lanka wants a quick setup of the national digital identification system. He has given a tight 18-month deadline to complete this project. It is a key part of the digital governance strategy. This strategy aims to change how the nation delivers services and to strengthen the economy.

At the Sri Lanka Banks’ Association meeting, the President talked about the importance of digital projects by the government. These projects fight inefficiency and corruption. They also move the country towards a more clear and efficient economy. The effort to digitize shows President Dissanayake’s commitment, similar to Ranil Wickremesinghe‘s push for reform and innovation in state operations.

Industry experts underline the importance of digital identity in driving growth, cutting down fraud, and making things more efficient. This idea is supported by Dissanayake’s administration. Introducing the digital ID system is expected to push Sri Lanka towards better digital governance. It’s a change that will impact not just technology but also the country’s economic and social systems.

Sri Lanka President Demands Fast Digital ID Rollout

Sri Lanka’s Presidential Push for Swift Digital ID Adoption

Sri Lanka’s President is accelerating the digital ID program amidst a severe economic downturn. This 18-month project aims to improve online government services and boost financial access for all. It’s a key part of reviving Sri Lanka’s economy, with experts hopeful for significant impacts.

President Anura Kumara Dissanayake’s 18-Month Deadline

President Dissanayake has set a bold deadline to revamp digital governance. This effort seeks to upgrade Sri Lanka’s digital infrastructure. It’s seen as vital for enhancing e-government services and shaping government reform.

Streamlining Economic Recovery Through Digital Initiatives

To support these goals, a new biometric system will be put in place. It uses advanced tech for secure identity checks, from fingerprint to eye scans. This step is crucial for stronger and reliable digital governance.

Banking Sector’s Pivotal Role in Supporting Digital ID Rollout

The banking industry in Sri Lanka is set to be a key player. It will link biometric verification with everyday banking, ensuring safe and smooth electronic transactions. This move is expected to broaden financial access significantly.

Initiative	Expected Impact	Timeline
Digital ID Rollout	Enhance security, Increase efficiency in public services	18 months
Biometric Integration in Banking	Secure transactions, Greater financial inclusion	Ongoing, aligned with digital ID deployment
Technology Adoption in Identity Verification	Accurate and fast processing of data	Initial phase in first 6 months

Sri Lanka is determined to lead in digital and biometric technology. This comprehensive digital push is aimed at overcoming economic hurdles and setting a regional benchmark.

Enhancing Digital Security and Public Awareness

In an era merging technology and governance, Sri Lanka is boosting its digital presence. It’s focusing on initiatives that increase economic growth and safeguard citizen privacy. For instance, the U.S. Embassy in Colombo and the local tech company WhimsicalWits have launched ‘Cyber Hero.’ This app aims to teach digital safety education and make users wise in their online lives.

Sri Lanka shines at 44th in the Global Services Location Index and is proactive in cybersecurity, ranking 83rd globally. With ‘Cyber Hero,’ part of the PORCH project, it addresses cyber risks and privacy issues. It aligns with the National Digital Policy, preparing for cybersecurity changes and guarding against cyber threats.

Digital literacy is crucial as Sri Lanka expands its digital ID project. U.S. Ambassador Julie Chung and Uthpala Pathirana of WhimsicalWits highlight the importance of global partnerships. They aim to raise Sri Lanka’s digital game. The National Digital Policy for 2020 – 2025 uses benchmarks like the Network Readiness Index to guide these efforts. Sri Lanka is ranked 81st out of 131 countries, pushing towards creating a digitally savvy citizenry.

Sri Lanka is integrating digital technology in public health and beyond, with over 85 major hospitals going digital. Projects like Cyber Hero showcase its dedication to progressing safely in the digital age. Its efforts to enhance healthcare through technology show a commitment to using tech for the public good. This ensures citizens are protected from digital risks.