Sri Lanka targets 5 bln USD in service sector revenue by 2030

COLOMBO, Oct. 29 (Xinhua) — Sri Lanka’s Export Development Board (EDB) aims to raise service sector revenue to 5 billion U.S. dollars by 2030, local media reported on Tuesday, citing EDB Chairperson and CEO Mangala Wijesinghe.
The plan includes increasing the number of software engineers, streamlining the approval process by integrating key institutions, and easing current challenges faced by exporters in accessing new markets to boost dollar revenue.
Sri Lanka’s service sector revenue reached 3.1 billion dollars in 2023, with the ICT sector contributing 1.2 billion dollars. The country currently exports 2,900 products, and the EDB aims to expand this to 5,000 by 2030. ■