Sri Lanka, after getting rid of a civil war of thirty years entire island is placed on a new growth model and the peace dividend is already visible. Country has become stable politically, socially and economically as well. Therefore, it has become a great attraction of investors worldwide. With the current peaceful and stable environment investment opportunities in several industries have emerged.
IT is one of the leading industries that attracts investments. Sri Lanka has all the required attributes for successful investment in the IT industry. Sri Lanka has a very talented, skillful and adaptable IT workforce that has good English literacy as well. Investors could gain advantage over relatively low labor cost and and other low cost infrastructure required. Sri Lankans are noticeably friendly, highly productive, creative, and adapt very fast to different cultures and environments. This results in easy integration to operating units of other counties. The primary business language in Colombo (Capital of the island) is English with a high level of fluency which makes it very easy for investors to work with the employees. Sri Lanka have number of well reputed set of government universities that provides skillful IT professionals with computer science and IT degrees. Also there are number of private and foreign universities operating in the island to produce software developers to meet increasing demand.
Government of Sri Lanka has named this year as year of English and ICT and carried out number of programs to provide IT infrastructure through out the country to increase the computer literacy of the general public, particularly the youth. Still the government has to do more to get a great boost for the Sri Lankan economy through IT industry by attracting more investors.
Recently London Stock Exchange(LSE) invested 30M USD to take over one of the leading IT company in the island called MillenniumIT. This is a good sign of confidence of investors to invest in IT industry of Sri Lanka. Investing in SriLankan IT industry will create a win-win situation for both the investors and the country as investors get lots of benifits and they could generate more profit and meanwhile country will get lots of foreign money coming in and could give a boost to the economy. At the moment, study of any investor would give the result that Sri Lanka is one of the leading attraction for investments in IT industry.
