Sri Lanka to boost service sector revenue by ’30

The Sri Lanka Export Development Board (EDB) has set an ambitious target of increasing service sector revenue to $5 billion by 2030.

To achieve this goal, the EDB plans to focus on several key strategies, including increasing the number of software engineers, streamlining approval processes, and facilitating market access for exporters.

In 2023, Sri Lanka’s service sector revenue reached $3.1 billion, with the ICT sector contributing a significant portion of $1.2 billion.

The EDB aims to further diversify the export basket, increasing the number of exported products from the current 2,900 to 5,000 by 2030.

Attribution: Xinhua

Subediting: M. S. Salama