THE ROLE OF ICT FOR

DRIVING SUSTAINBLE
ECONOMIC GROWTH IN
SRI LANKA
CONTENT
Introduction

What is ICT?

Sustainable Development

Real Time Example

Roles Of ICT for Driving Sustainable Economic Growth

INTRODUCTION
Now a days with the significant development of information and communication technology
(ICT) become a key factor in the economic and social development of the countries because it
has positive effects on economic growth, productivity, and employment.
Over the past decade, information and communication technology (ICT) has helped create
the most rapidly growing industry sectors, driven efficiency in government and business
operations, and developed the essential building blocks to a knowledge-based economy.
ICT is now connected to almost all spheres, from everyday life to specialized areas, including
economy. In particular, it has received a good deal of attention in the realm of business.
WHAT IS ICT?
ICT is defined as a set of hardware, software and communication networks required for
collecting, processing, storing, distributing and retrieving information.

In other words, ICT means the set of technologies and applications that provide access to
information via telecommunication networks.
SUSTAINABLE DEVELOPMENT
ICT can be linked to various themes and concepts across
various disciplines.
For example, it is highly associated with the term
sustainability.
Sustainability is the quality and ability to be maintained
at a specific rate or level over time. A systematic
approach towards sustainability constitutes economic,
social and environmental aspects.
In order to analyze the impact of ICT on economic
sustainability, we need to analyze its role with regard to
the characteristics of emerging economies.
EXAMPLE
Real Time Bus Tracking and Scheduling System for Public Bus Transportation
ROLES OF IT FOR DRIVING SUSTAINBLE ECONOMIC
GROWTH
The use of this technology enables the various participants in economic and social life to have
quick and easy access to information and knowledge.
ICT enables companies to communicate faster and better so they reduce production costs
and improve productivity.
ICT also allows access to new markets, lower capital costs as a result of increasing the
efficiency of the functioning of financial markets, reduces regional discrepancies in incomes
and productivity, allows access to human capital through tele-networking.
The use of Internet access, can promote the sustainable development of entrepreneurship
and small and micro businesses because it reduces the difficulty of financing them by
mitigating information asymmetry and reducing agency cost.