By Chandani Jayatilleke
A high-powered business delegation from the London Stock Exchange (LSE) will meet Prime Minister Ranil Wickremesinghe this week to discuss and finalise an investment agreement.
The discussions to be held in Colombo on Wednesday will be based on the setting up of a global IT support centre that provides IT services to stock exchanges globally.
The support centre to be set up at the TRACE Expert City in Maradana will create high-end technology jobs for Sri Lankans which are equivalent to two or three other similar jobs – in terms of intensity and skill level.
“The investment will create a global platform for Sri Lanka’s tech talent,” an official connected with the deal told the Sunday Observer.
These jobs will be brought to Sri Lanka from other places where they are known for producing high end tech products and services.
LSE already has a support centre in Bangalore, India with 1,500 employees providing services to stock exchanges around the world. However, with the launch of the Colombo office some of the jobs in Bangalore would be shifted to Colombo, benefiting Sri Lankans.
The LSE group is a leading developer of high performance trading platforms and capital markets software for customers around the world, through MillenniumIT.
MillenniumIT, the Group’s subsidiary is the developer of flexible, low cost, high performance trading platforms and financial markets software serving both the Group’s own businesses and third parties
The LSE Group acquired MillenniumIT, a company set up by a Sri Lankan, Tony Weerasinghe in 2009 with 300 employees.
An IT industry analyst told the Sunday Observer that LSE’s direct presence in Sri Lanka is a huge boost for the IT and financial sectors of the country. “LSE is one of the biggest brands in the world operating with strict regulatory compliance. That is also an encouragement for other major investors looking for investment opportunities especially in the knowledge-based business sectors to come to Sri Lanka,” he said.
“It’s a major project for Sri Lanka and the Prime Minister himself was working on this project for a while now and this week’s discussions will lead to the finalisation of the project.
The premier is keen on creating ‘quality’ job opportunities for the educated Sri Lankan youth. Hence they no longer have the need to look for foreign jobs and our talent can remain in the country,” the source said.
Official sources said LSE may also meet several other representatives in the financial and capital market sectors.
A high-powered business delegation from the London Stock Exchange (LSE) will meet Prime Minister Ranil Wickremesinghe this week to discuss and finalise an investment agreement.
The discussions to be held in Colombo on Wednesday will be based on the setting up of a global IT support centre that provides IT services to stock exchanges globally.
The support centre to be set up at the TRACE Expert City in Maradana will create high-end technology jobs for Sri Lankans which are equivalent to two or three other similar jobs – in terms of intensity and skill level.
“The investment will create a global platform for Sri Lanka’s tech talent,” an official connected with the deal told the Sunday Observer.
These jobs will be brought to Sri Lanka from other places where they are known for producing high end tech products and services.
LSE already has a support centre in Bangalore, India with 1,500 employees providing services to stock exchanges around the world. However, with the launch of the Colombo office some of the jobs in Bangalore would be shifted to Colombo, benefiting Sri Lankans.
The LSE group is a leading developer of high performance trading platforms and capital markets software for customers around the world, through MillenniumIT.
MillenniumIT, the Group’s subsidiary is the developer of flexible, low cost, high performance trading platforms and financial markets software serving both the Group’s own businesses and third parties
The LSE Group acquired MillenniumIT, a company set up by a Sri Lankan, Tony Weerasinghe in 2009 with 300 employees.
An IT industry analyst told the Sunday Observer that LSE’s direct presence in Sri Lanka is a huge boost for the IT and financial sectors of the country. “LSE is one of the biggest brands in the world operating with strict regulatory compliance. That is also an encouragement for other major investors looking for investment opportunities especially in the knowledge-based business sectors to come to Sri Lanka,” he said.
“It’s a major project for Sri Lanka and the Prime Minister himself was working on this project for a while now and this week’s discussions will lead to the finalisation of the project.
The premier is keen on creating ‘quality’ job opportunities for the educated Sri Lankan youth. Hence they no longer have the need to look for foreign jobs and our talent can remain in the country,” the source said.
Official sources said LSE may also meet several other representatives in the financial and capital market sectors.
www.sundayobserver.lk
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