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Marking Sri Lanka’s presence in a global youth entrepreneurship movement, the Hult Prize Sri Lanka Nationals 2025/2026 Grand Finale was successfully held on May 10th at the Commercial Credit Training Academy premises in Colombo with the sponsorship of the Ministry of Digital Economy. Hosted locally by APIIT Sri Lanka, the programme served as a platform to showcase the innovation potential and entrepreneurial mindset of Sri Lankan university students on an international stage.

Addressing the gathering as the Chief Guest, Eng. Eranga Weeraratne, Hon. Deputy Minister of Digital Economy emphasized that the responsibility of building Sri Lanka’s future digital economy lies with the country’s young entrepreneurs. He highlighted that technology should not be viewed merely as innovation, but as a tool that must be used responsibly and inclusively. The Deputy Minister further stressed the importance of developing digital solutions that cater to small and medium-scale enterprises, rural communities, and persons with special needs.

He also noted that the government’s continued support for digital infrastructure development and innovation ecosystems is creating an enabling environment for young entrepreneurs to build and grow their ventures within Sri Lanka itself. Encouraging students to think beyond the competition, he urged them to transform their ideas into practical solutions capable of addressing real-world challenges. He further emphasized that the future of Sri Lanka’s digital economy will be shaped not only by large institutions, but also by young innovators who use technology responsibly.

The event was also attended by the Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe , Secretary to the Ministry of Digital Economy; Waruna Dhanapala along with several distinguished guests. Senior Director of the Hult Prize Foundation, Hamdi Ben El Elmi, and Regional Manager Supriya Jangre also participated in the event. Chairman of APIIT, Bandula Egodage, Hult Prize National Director Thaviru Hettiarachchi, and representatives of the APIIT Business School were among those present.

In parallel with the visit of His Excellency Tô Lâm, President of the Socialist Republic of Vietnam, to Sri Lanka, a special discussion was held today at the Ministry of Digital Economy to enhance cooperation in the digital economic sector between the two nations. The meeting took place between Hon. Eranga Weeraratne, Deputy Minister of Digital Economy, and Mr. Nguyen The Trung, Member of the National Advisory Council of the 57th Steering Committee of Vietnam.

The discussions focused extensively on key areas such as public digital infrastructure, cashless payment systems, cybersecurity, data centers, and the provision of necessary infrastructure for Artificial Intelligence (AI). Sri Lanka's national vision to become a regional digital hub by 2030 targeting a $15 billion digital economy and $5 billion in digital exports was a central point of discussion. Vietnam expressed its support for investment opportunities within Sri Lanka’s data center sector.

The delegation commended the existing industry-level relations between the two countries and highlighted the importance of further strengthening the Memorandum of Understanding (MoU) between SLASSCOM in Sri Lanka and the VINASA association in Vietnam. There was a specific emphasis on the desire to collaborate with the technology and innovation ecosystem centered in Hanoi, Vietnam.

The Vietnamese delegation shared their experiences regarding the expansion of digital infrastructure, the digitalization of the public sector, policy reforms, and AI skills development. Both parties agreed on the importance of continuous knowledge exchange and practical partnerships to strengthen the digital transformation journeys of both nations.

The Vietnamese delegation was joined by senior officials from the Ministry of Digital Economy, including Mr. Waruna Sri Dhanapala, Secretary to the Ministry of Digital Economy, and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy, along with othe ministry officials.

A special discussion was held recently at the Ministry of Finance to expedite and refine the process of identifying and listing 'Aswesuma' welfare beneficiaries.

The primary objective of the meeting was to provide the necessary facilities to maintain the process with greater speed and accuracy, ensuring that the welfare system operates effectively and reaches the intended citizens.

The discussion focused extensively on how digitalization could be integrated to accurately identify beneficiaries and revise the current criteria within the identification methodology. Both long-term measures, such as amending the relevant Act, and short-term measures to accelerate the process through technical enhancements were identified during the session.

Furthermore, administrative challenges were addressed, including filling existing vacancies and actively involving Grama Niladharis in the Aswesuma process. The meeting also highlighted the refinement of payment mechanisms and the resolution of related technical issues.

By integrating digital technology with the administrative framework, the government aims to ensure transparency and prioritize those most in need of assistance.

The discussion was attended by Dr. Upali Pannilage, Minister of Rural Development, Social Security, and Community Empowerment; Dr. Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Finance and Planning and Eranga Weeraratne, Deputy Minister of Digital Economy.

Additionally, Sampath Manthrinayake, Secretary to the Ministry of Rural Development, Social Security, and Community Empowerment, along with officials from the Welfare Benefits Board, participated in the event.

In line with the government’s ongoing digitalization initiative, the Ministry of Public Administration, Provincial Councils, and Local Government has launched a comprehensive program to transform all 341 local government institutions in Sri Lanka, including 29 Municipal Councils, 36 Urban Councils, and 276 Pradeshiya Sabhas, into entities capable of delivering services and processing payments through online platforms.

A discussion on the necessary measures to further accelerate this program, and to ensure that these services are delivered to the public in a more efficient, user-friendly, reliable, and cost-effective manner, was held yesterday (20) in Colombo at the office of the Deputy Minister of Provincial Councils and Local Government, located in Union Place. The meeting was jointly chaired by the Deputy Minister of Provincial Councils and Local Government, Ruwan Senarath, and the Deputy Minister of Digital Economy, Engineer Eranga Weeraratne.

This initiative aims to enable the public to access all services and make payments without physically visiting local government offices. These include tax payments, service appointments, water bill payments, obtaining licenses and certificates, streetlight maintenance and management, parking payments, and lodging complaints. In addition, the digitalization program is expected to reduce inefficiencies and corruption within local government institutions while improving overall operational efficiency.

By minimizing the use of cash and promoting digital transactions, the data generated through these systems will allow better monitoring of economic activity. This, in turn, will support more informed national planning and decision-making.

Previously, there was no unified system covering all local government institutions, resulting in individual institutions developing separate technological solutions. However, this new program is being implemented solely using government expertise and resources, without engaging external non-governmental parties. As a result, all local government institutions will be integrated into a centralized and unified system, with these digital services provided at no cost to them.

With the support of the Ministry of Digital Economy, the program is expected to be launched in the near future. Furthermore, a series of promotional initiatives, offering incentives and benefits will be introduced to encourage greater participation from both local government institutions and the public.

The discussion was attended by the Secretary to the Ministry of Public Administration, Provincial Councils and Local Government, S. Aloka Bandara, the Secretary to the Ministry of Digital Economy, Waruna Sri Dhanapala, along with officials from both ministries as well as from GovTech and LankaPay.

The ceremony was held this morning under the leadership of the Honorable Deputy Minister of Digital Economy, Engineer Eranga Weeraratne. The event commenced in a traditional and respectful manner with the lighting of the oil lamp, symbolizing blessings, unity, and a positive start to the new year.

During the event, the Secretary to the Ministry, Waruna Sri Dhanapala, addressed the gathering. He highlighted that, in response to current global geopolitical conditions, the Ministry will prioritize the use of digital technologies to support remote working. He also emphasized the importance of effectively utilizing the budget allocated to the Ministry for this year.

The ceremony was attended by Chief Presidential Advisor on Digital Economy Dr. Hans Wijayasuriya, Secretary to the Digital Economy Ministry, Waruna Sri Dhanapala, along with heads of affiliated institutions and members of the Ministry’s staff.

The Government of Sri Lanka has planned to digitize 100% of all government transactions by the year 2030 and to build a massive digital economy worth USD 15 billion within the country.

To achieve this goal, efforts are being made to actively implement the process through the full contribution of the Ministry of Digital Economy and through public-private partnerships.

As a key milestone of this initiative, the ‘Access Unlocked V2.0’ digital payments launch program, organized by Mastercard, was held yesterday (25th) at the Cinnamon Life under the patronage of Hon. Deputy Minister of Digital Economy, Eng. Eranga Weeraratne and Hon. Deputy Minister of Industries and Entrepreneurship Development, Chathuranga Abeysinghe.

Speaking at the event, the Deputy Ministers emphasized that introducing low-cost digital payment methods for small and medium-sized enterprises (SMEs) is essential to strengthening financial inclusion.

It is also encouraging that innovative technological solutions such as Mastercard SoundBox and SoftPOS were introduced for the first time in South Asia at this forum.

Powered by Mastercard Merchant Cloud, these services enable small business owners to accept digital payments easily and at a low cost, which is expected to accelerate the overall digital transformation of the country’s economic system.

The continued collaboration between the government and the private sector is a key factor in empowering businesses and achieving sustainable economic growth in the country. The government remains committed to increasing transparency through the adoption of digital technology and integrating Sri Lanka with the global market.

Promoting innovative financial solutions aims to ensure that every entrepreneur can benefit from the digital economy.

The 2nd Meeting of the VASP Sub-Committee was recently held successfully, bringing together key stakeholders to present and discuss observations on the draft concept paper for Sri Lanka’s Virtual Asset Service Providers (VASP) regulatory framework.

The session was chaired by Hon. Deputy Minister of Digital Economy Eng. Eranga Weeraratne, alongside Dr. Hans Wijayasuriya, Mr. Waruna Sri Dhanapala, and Dr. Subhani Keerthirathne, Director of the Financial Intelligence Unit (CBSL). A total of 28 members actively participated, sharing valuable insights and recommendations to further strengthen the concept paper initially presented at the previous session.

Following the discussions, the Committee agreed to work towards a consolidated paper, capturing the key observations and recommendations presented during the session.

The Hon. Deputy Minister also invited the Securities and Exchange Commission (SEC) and the Ministry of Digital Economy (MoDE) to work collaboratively in reviewing regulatory frameworks adopted by other jurisdictions, and to present their findings at the next meeting scheduled for April. In addition, the SEC was requested to outline potential challenges it may encounter in its role as the regulator, to support a more practical and effective implementation approach.

This meeting builds on the milestone presentation made on 12th February, where the Hon. Deputy Minister presented the proposed VASP Regulatory Framework to the main CFT Committee of the Central Bank of Sri Lanka (CBSL/FIU), marking a significant step in strengthening Sri Lanka’s AML/CFT regime in line with international standards.

The proposed framework reflects a collaborative, multi-stakeholder effort, incorporating expertise from both public and private sectors. Key highlights include:

• Recommendations of the Multi-Stakeholder VASP Regulatory Committee
• Findings from the national risk assessment on money laundering and terrorist financing risks in the virtual asset sector
• A phased implementation roadmap through 2026/2027
• Proposed compliance measures including registration, KYC/AML obligations, and reporting standards

The Ministry of Digital Economy hosted a high-level meeting chaired by Hon. Eranga Weeraratne, Deputy Minister of Digital Economy, and Santosh Jha, High Commissioner of India to Sri Lanka, to focus on strengthening digital collaboration in disaster management. The session saw the participation of key figures, including Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy, and Mr. Waruna Sri Dhanapala, Secretary to the Ministry of Digital Economy, alongside senior officials from the Disaster Management Centre and other government representatives.

A key highlight of the meeting was the demonstration of the Disaster Impact Assessment Platform, developed by the Bhaskaracharya Institute of Space Applications & Geoinformatics (BISAG). This platform, supported by the Disaster Management Centre, the Ministry of Digital Economy, and GovTech Sri Lanka, showcased how advanced geospatial technologies can be integrated to significantly enhance Sri Lanka’s disaster preparedness, response, and mitigation efforts.

Furthermore, a Proof of Concept of the mobile broadcast Early Warning System (EWS), developed by India's premier telecommunications R&D center, C-DOT, was presented. The discussions underscored the vital role of innovative digital solutions and reaffirmed the commitment of both nations to foster a resilient, technology-driven disaster management framework through continued bilateral cooperation.

Marking an important step toward positioning Sri Lanka as a key hub in the global digital economy, the official ceremony to issue the country’s first “Digital Nomad” visa for foreign professionals was held recently at the Silk Route arrival terminal of Bandaranaike International Airport.

The program, jointly implemented by the Ministry of Digital Economy, the Department of Immigration and Emigration, and the Ministry of Industry and Entrepreneurship Development, grants official permission for IT professionals, freelance media personnel, and entrepreneurs from around the world to reside in Sri Lanka while providing their global services remotely.

Speaking at the event, Hon. Deputy Minister of Digital Economy, Eng. Eranga Weeraratne stated that Sri Lanka is ready to embrace the 21st-century global workforce, and that the new visa scheme will help attract highly skilled foreign professionals to the country. He further emphasized that by strengthening digital infrastructure and promoting co-working spaces, the government aims to transform Sri Lanka from merely a tourist destination into a professionally thriving regional hub.

He also noted that the selection of Jaffna as one of the top destinations for 2026 by Lonely Planet adds significant value to this initiative.

Under this program, eligible applicants will receive a visa valid for one year, with the option of renewal. Their family members will also be permitted to reside in Sri Lanka, and their children will be allowed to attend private schools.

Professionals earning more than USD 2,000 per month are eligible to apply. By utilizing Sri Lanka’s banking system and local services, these individuals are expected to contribute directly to the national economy. The initiative will also create valuable opportunities for knowledge exchange between international professionals and the local tech community, while showcasing Sri Lanka’s true potential to the world.

The ceremony was attended by Chief Advisor to the President on Digital Economy Dr. Hans Wijayasuriya, Secretary to the Ministry of Digital Economy Waruna Sri Dhanapala, and senior officials from the Department of Immigration and Emigration and the Ministry of Industry and Entrepreneurship Development.

The event can be described as a significant step in redefining Sri Lanka’s identity in line with the digital era. The government plans to promote the visa globally in the coming months, aiming to attract foreign exchange inflows and accelerate the country’s digital transformation.