IT/BPO sector emerges as growth area for BOI

The Board of Investment of Sri Lanka (BOI) granted investment approval to Senit Technologies Limited and Vingrows Business Solutions Limited to commence operations under the BOI.

The IT/BPO industry in Sri Lanka is witnessing remarkable growth due to the expansion of the global BPO industry.

IT adoption in Sri Lanka is also increasing significantly, driven by the awareness created by the initiatives taken to build IT capacity and competence in Sri Lanka.

The Board of Investment having identified the IT sector as a priority growth sector for economic development, provides many incentives to promote investments.

The country is emerging as an offshore outsourcing destination for specialized outsourced services and the combined IT and IT enabled services sector has grown remarkably.

The agreement signed with Senit Technologies Limited is for a venture to provide Ecommerce Solutions for the local and international hotel industry.

The venture sponsored by Roomsnet International is an investment of US $ 200,000. The company expects to provide employment for 20 Sri Lankan IT professionals.

Vingrows Business Solutions signed an agreement to provide web based services to Sri Lankan expatriates.

The web solution developed will allow users to request services on real estate, medical and travel sectors. The venture representing an investment of US $ 150,000 will provide employment for 20.

The growing IT enabled services industry in Sri Lanka offers a unique advantage for enterprises to enjoy premium access to a high quality talent pool, which is becoming increasingly challenging to large established destinations.