The State Minister for Technology, Mr. Kanaka Herath, announced that the anticipated National Cyber Security Act will be introduced this year, followed by the establishment of the Cyber Security Authority.

Additionally, the State Minister underscored the preparations made for the Digital Economy Summit scheduled to take place in Sri Lanka by the end of July.

The summit serves as a platform for fostering innovation, collaboration, and investment in digital technologies, thus propelling the country towards a more resilient and prosperous digital economy, he said.

Speaking at a press briefing titled “Collective Path to a Stable Country” held at the President Media Centre (PMC) today (29),

State Minister Herath further said;

The digital economy, which previously stood at 4.73%, has now surpassed the 5% mark, indicating significant growth.

This expansion has notably bolstered the country’s overall economic resilience. To further enhance this momentum, preparations are underway for the Digital Economy Summit scheduled to take place in Sri Lanka at the end of July. The summit aims to attract both local and foreign investors, with collaborative efforts from foreign embassies, the Ministry of Foreign Affairs, and the Ministry of Investment Promotion facilitating this initiative.

Furthermore, a sum of Rs. 50 million derived from the profits of Sri Lanka Standards Institution (SLSI) was allocated to the treasury in the previous year. In line with President Ranil Wickremesinghe’s proposal, a new initiative has been launched to uplift small and medium-sized industrialists, who constitute 52% of the country’s economy. This endeavour seeks to empower such enterprises technologically, offering them good manufacturing practice (GMP) and SLSI certifications. Additionally, plans are underway to facilitate access to low-interest loans through the Asian Development Bank (ADB), with the ultimate goal of guiding these small and medium-sized industrialists into the market.

In addition, the Sri Lanka Computer Emergency Readiness Team (SLCERT) is anticipated to introduce the National Cyber Security Act within the year, followed swiftly by the establishment of the Cyber Security Authority. Concurrently, in collaboration with the Ministry of Education, 700 out of 1000 selected schools lacking internet access have already been equipped with this essential facility. As the next phase of this initiative, plans are underway to establish AI Centers aimed at introducing the subject of “Artificial Intelligence” at the school level, further advancing education in this critical field.

Additionally, there are plans to commence a six-month technology industry training program in May, targeting 10,000 non-technical graduates. This initiative is being undertaken in collaboration with the Ministry of Higher Education.

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