COLOMBO, July 2 (Xinhua) -- Sri Lanka aims to raise its economic growth to 7-8 percent in the coming years, with the information technology, electrical and electronics sectors expected to play a key role, President Anura Kumara Dissanayake said on Wednesday.
Dissanayake made the remarks during a discussion with leading investors and industrialists from the information technology, electrical and electronics sectors at the Presidential Secretariat, the President's Media Division (PMD) said.
The president said the government plans to allocate 2 trillion Sri Lankan rupees (about 6 billion U.S. dollars) for capital expenditure in 2027 to accelerate economic growth.
The information technology sector, currently Sri Lanka's third-largest export revenue earner, has the potential to generate 5 billion U.S. dollars in annual export earnings, according to the statement.
The electrical and electronics sector, which currently earns about 500 million dollars in export revenue, has the potential to increase annual earnings to 2 billion dollars, it said.
Deputy Minister of Digital Economy Eranga Weeraratne said the government plans to establish a Virtual Special Economic Zone and a data center, introduce a Green Channel mechanism to ease customs-related barriers to importing electronic equipment for research and development, and address banking and credit card limitations affecting overseas payments for services such as cloud computing and Software as a Service.
He said the government is also considering alternative incentive schemes to retain skilled professionals and reduce migration of talent overseas. ■
