What's keeping the Sri Lanka BPO industry down?

When we last interviewed Madu Ratnayake, General Secretary, SLASSCOM, he was brimming with confidence and exciting possibilities in the Sri Lankan BPO market. However , Sri Lanka BPO industry has not accelerated with the kind of speed they would have expected in the post war scenario. What could be the possible reason ?

The Sri Lankan Minister of Science and Technology nails it down as
Lack of Investment in Technology !


In his words :

" Sri Lanka’s contribution to the global GDP is very low compared to its potential. The country can develop in a significant manner, and the main reason against it is the unawareness and low funding towards technology, to increase the contribution. The country should focus on technology development, as today’s industries are facing difficulties with low quality technology there by reducing its profits, says Minister of Science and Technology, Prof. Tissa Vitarana."

He further added

"It has been understood by many economies that lack of technology is one of the main reasons behind low profits, which could be turned around with proper application and machinery. "We have missed many technology opportunities and it is high time now that we should get into the trend to help drive our businesses to the maximum potential," Prof. Vitarana said.

Developing technology could help Sri Lanka save import expenses and also benefit from high value added products to develop the country’s foreign exchange earnings. Many foreign investors are using top class technologies to better their business, which has also assisted the development of capacity and profits, he said.

Source: ITPro