This blog highlights the importance of intellectual property rights (IPRs) in the commercialisation process and suggests some strategies to advance the commercialisation process in Sri Lanka.
By the time COVID-19 hit, Sri Lanka’s tea production and export earnings had already been on a declining trend. The adverse weather conditions and long-term structural issues such as labour shortages and lack of technological application have affected production levels over time. With the first wave of the pandemic, the vulnerabilities of the tea sector were exposed. Now, Sri Lanka and most of the main tea buyers are experiencing a second wave which can have far reaching negative consequences than previously anticipated. This blog discusses the impacts of COVID-19 on Sri Lanka’s tea industry and the different mitigation strategies that the government can adopt to revive the industry.
How Technology is Shaping Apparel Sector Supply Chains in Sri Lanka: Shifting to Nearshoring and Reshoring
This blog examines the implications of tech-led supply chain changes on Sri Lanka’s apparel industry and argues that it is important to prepare early for forthcoming changes through a holistic approach, engaging a spectrum of stakeholders to improve the competitiveness of the industry. Prioritising investment in innovation and skills and improving the efficiency of business processes is critical for Sri Lanka’s apparel industry to remain competitive in the changing tech-landscape.
Data protection is increasingly becoming relevant to Sri Lanka, with the rapid rise in digitalisation and digital connectivity. At present, there is no consensus for a single model for data protection laws. However, compatibility is the stated objective of many global and regional data protection initiatives. Sri Lanka’s data protection laws need to be drafted to be internationally accepted, to facilitate the smooth cross border transfer of data.
It is estimated that the global blockchain technology market size is expected to reach USD 21,070 million by the end of 2025, with a compound annual growth rate of 38.4%, showing a promising start for the upcoming technology. The main advantages blockchain provide are its immutable ledger system, decentralised network, and transparency of transactions. This blog discusses the potential benefits and challenges in implementing blockchain technology for voting and the banking sector in Sri Lanka as well as data privacy concerns.