Value Exports

Dec 29, 2011 (LBO) - Sri Lanka's earnings from information communications technology (ICT) services and products grew strongly this year after rising sharply last year, officials said. ICT and BPO (business process outsourcing) exports shot up 47 percent to 310 million US dollars in 2010-11 from the year before and will remain strong, a new survey by PricewaterhouseCoopers has found.

The sector has 175 firms employing 16,000 people, which is expected to grow as more foreign investment comes in, said Janaka Ratnayake, chairman of the Export Development Board.
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The growth rate should enable the ICT and ITES (information technology enabled services) sector to reach a billion dollars in export earnings before 2015, he told a news conference.

Mano Sekaram, chairman of the EDB's advisory committee for the ICT and BPO sectors, said the PwC survey of 175 firms was needed to find out how the sector was performing.
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"This industry is a new industry," said Sekaram, who is also general secretary of the industry body, SLASSCOM, Sri Lanka Association of Software and Services Companies.

"Transactions happen over the Internet and there's no customs declaration of exports out