The Sri Lanka Association of Software and Services Companies (SLASSCOM) recently signed a Memorandum of Understanding (MoU) with CHEC Port City Colombo (CPCC), marking a historic milestone for both parties.
The partnership was established to enable mutual co-operation towards developing and promoting the Sri Lankan knowledge and innovation sector in line with achieving $ 5 billion worth of exports by 2025.
The IT-BPM sector has been identified as a priority sector that fits the strengths of Port City Colombo for its investment accelerator approach. With the Port City Colombo positioned as a services-oriented special economic zone, within which there will be ease of doing business to attract companies to move their regional offices and headquarters to Sri Lanka, the partnership is a significant landmark to achieve mutual growth and development for both parties.
Commenting on the partnership, former SLASSCOM Chairman Channa Manoharan highlighted that this MoU was only the beginning of a great journey, which is an important one for both the country and the IT-BPM sector.
“This partnership will help SLASSCOM position our sector with a higher degree of competitive advantage amongst the global analyst community, investors, and clients. The four competitive factors key to attracting IT-BPM players are financial attractiveness, people skills and availability, business environment, and digital resonance. The integrated offerings of Port City Colombo meets all four factors and therefore is best placed to position Sri Lanka’s IT-BPM industry’s differentiated value proposition to potential clients and investors,” he said.
“Port City Colombo offers regulations, robust legal framework, and an attractive tax regime that improve ease of doing business and increases financial attractiveness. World-class infrastructure including availability of grade A office space, advanced communications, modern living and lifestyle amenities, schools and healthcare, and strategic location in proximity to fast growing South Asian markets, combined with the ingenuity of our talent, will make Sri Lanka an attractive proposition,” he added.
“It will be a promising journey forward for SLASSCOM, Port City Colombo and the sector as a whole to promote Sri Lanka as a destination for investments in IT-BPM,” averred newly appointed SLASSCOM Chairperson Sandra De Zoysa, also mentioning that the Chamber will nurture the partnership by bringing in the knowledge, market intelligence, the power of the ‘Island of Ingenuity’ brand, and the strong relationships that have been established with partners across key markets in the world.
CPCC Managing Director Houliang Jiang mentioned how the partnership would help both parties collaborate to position Sri Lanka’s IT-BPM sector to the world market, adding that CPCC was committed to capitalise all efforts to achieve the common goal of enabling this priority sector with greater acceleration.
Adding to these sentiments, CPCC Assistant Managing Director Thulci Aluwihare noted: “We will be working towards really understanding the market expectations and those of big brands when deciding to relocate their headquarters and offices to Sri Lanka. These insights will then be communicated to the Port City Economic Commission so that the drafting of regulations will be market-driven. The partnership with SLASSCOM will be very helpful in this regard, and we also hope to collaborate in our market outreach plan with the chamber to achieve greater effectiveness together.”