(Last updated: 18 Jul 2011)

Trends and opportunities

ICT business opportunities

• Off-shore development centres for niche and specialised software applications 
• Business Process Re-engineering / Out-sourcing (back office data processing and administrative work)
• Voice related outsourcing
• Medical data transcription
• Insurance claims processing
• Business integration
• Accounting and tax services
• Legal data base processing
• Internet and web hosting
• E-commerce service
• Telecommunication and IT equipment, devices, systems and solutions, technology (software and hardware), etc.

Why is this market attractive for Australian companies?

• Sri Lanka has an open market economy and is the first country in South Asia to liberalise its economy, has a highly literate population in the Asian region, and vibrant policies on ICT.  
• Sri Lanka and Australia have strong economic and trade relations, as well as effective links in foreign relations, education and information and communications technology, health and bio and agribusiness. 
• Sri Lanka is a strategic location with good business infrastructure for ICT business and projects. The government of Sri Lanka has recognised ICT as a key enabler and the ICT industry as a key growth industry.

Marketing your products and services

Market entry

How does doing business in Sri Lanka differ from Australia and what do Australian companies need to do in approaching this market?

• Clear selection criteria, identify pro and cos, market demands and opportunities, government policies and regulations, tendering / bidding processes, etc. 
• Cultural integration and business ethics/ethos, research, capability and capacity due-diligence, face to face meeting, etc. 
• Regular follow-up, well planned market visits, stronger links both at private and government sector stakeholders.

Top tips to be successful in Sri Lanka 

• Need to sell ‘Australian’  
• Presence in the region 
• Commitment to the market, long terms objectives 
• Niche and innovative products and services with ‘added value’ 
• Exceptional standards and quality

Links and industry contacts

Government, business and trade resources for Sri Lanka

The Board of Investment of Sri Lanka – www.boi.lk
The Ceylon Chamber of Commerce – www.chamber.lk
Information and Communication Technology Agency of Sri Lanka – www.icta.lk 
Sri Lanka Association of Software and Service Companies – www.slasscom.lk
Sri Lanka Australia Business Council – www.slanzbc.com
Sri Lanka Computer Vendors Association – www.slcva.lk
Sri Lanka Information and Communication Technology Association – www.slicta.lk

Contact details

The Australian Trade Commission – Austrade – is the Australian Government’s trade and investment development agency.

Through Austrade’s network of offices in over 50 countries, we assist Australian companies to succeed in international business, attract productive foreign direct investment into Australia and promote Australia's education sector internationally.

For more information on how Austrade can assist you, contact us on:

Australia ph: 13 28 78 | Email: info@austrade.gov.au

A list of Austrade offices (in alphabetical order of country) is also available.