Wiht the National Digital Economy Strategy identifying cybersecurity as a core pillar, reforms to the National cyber Security Act are underway, alongside efforts to improve incident response capabilities through institutions such as the Sri Lanka Computer Emergency Response Team ( SLCERT).
Reforms to the national cyber Security Act aim to establish a Cybersecurity Authority (CSA) as the apex institution for cybersecurity in Sri Lanka, empower the SLCERT in incident response, and create a comprehensive legal and administrative framework for a secure digital ecosystem, Digital economy Deputy Minister Eng. Eranga Weeraratne told Biometric Update recently.
“With technology advancing faster than policy can keep pace,trust is our most valuable digital asset. Defending that trust requires shared commitment from policymakers, cybersecurity professionals, academics, the private sector, and civil society,” he said on the sidelines of the National Cyber Security Conference held recently, noting that sri Lanka is continuing to place crucial attention on this area. Weeraratne pointed out that conflicts are not only caused by weapons as in the past, and therefore, international cooperation on cybersecurity should be built and is vital.
Sri Lanka has achieved a big milestone by progressing to Tier Two in the Global Cybersecurity Index, joining the ranks of countries like China, canada, Austria, and Switzerland. Dr. Kanishka Karunasena, the Acting CEO of the Sri Lanka Computer Emergency Reporting Team (SLCERT), highlighted this progress during the recent cybersecurity conference, emphasizing the strategic development of the National Cybersecurity strategy, which is built on four key pillars.
The strategy aims to launch a robust legal and administrative framework for cybersecurity, which includes finalizing the Cybersecurity Bill and creating a Cybersecurity Regulatory Authority. It also focuses on developing a skilled workforce in cybersecurity, boosting public awareness, improving cybersecurity readiness in government institutions, and bolstering the capabilities.
Mastercard and Ukraine Partner to Boost Digital Economy with Five-Year Agreement
Table of Contents
Mastercard has entered into a five-year public-private partnership with the Ukrainian government to accelerate the development of the country’s digital economy. The agreement, announced on November 22, 2023, focuses on digitizing government services, supporting small and medium-sized enterprises (SMEs), and enhancing financial literacy. https://www.mastercard.com/news/press-releases/november-22-2023-mastercard-and-ukraine-government-launch-five-year-partnership-to-advance-digital-economy/
Key Areas of Cooperation
The partnership will concentrate on several key areas designed to modernize Ukraine’s financial infrastructure and promote economic growth:
* Digital Transformation of Public Services: Mastercard will collaborate with the Ukrainian government to digitize public services, making them more accessible and efficient for citizens. This includes streamlining processes and reducing bureaucracy through digital solutions.
* support for SMEs: A significant portion of the initiative will be dedicated to supporting Ukrainian SMEs. This will involve providing them with access to digital tools, financial resources, and training programs to help them grow and compete in the global market. Mastercard aims to empower these businesses to accept digital payments and expand their reach.
* Financial Literacy programs: The partnership will launch financial literacy programs aimed at increasing financial inclusion and empowering citizens with the knowledge and skills to manage their finances effectively. These programs will target various demographics, including youth and entrepreneurs.
* Cybersecurity Enhancements: Recognizing the importance of a secure digital environment, the collaboration will also focus on strengthening cybersecurity measures to protect financial transactions and data.
Ukraine’s Digital Advancement Amidst Conflict
This partnership arrives at a crucial time for Ukraine, as the country continues to navigate the challenges posed by the ongoing war. Despite the conflict,Ukraine has demonstrated a strong commitment to digital transformation,recognizing its potential to drive economic resilience and improve the lives of its citizens. The Ministry of Digital Transformation of Ukraine has been actively working to create a favorable environment for innovation and technology adoption. https://thedigital.gov.ua/news/mastercard-ta-ukrayina-rozpochynayut-pyatirichnu-spivpracyu-dlya-rozvitku-cifrovi-ekonomiki (Ukrainian source, confirms partnership details)
Mastercard’s Commitment to Ukraine
Mastercard has a history of supporting Ukraine, having previously implemented measures to ensure continued access to financial services during the conflict. This new partnership represents a significant escalation of that commitment, demonstrating a long-term investment in the country’s future.
“Despite the ongoing challenges, Ukraine is demonstrating remarkable resilience and a clear vision for a digital future,” said Michael Miebach, Mastercard CEO, in the official press release. “This partnership builds on our existing support for Ukraine and will help accelerate the country’s digital transformation, empowering citizens and businesses alike.”
Key Takeaways
* Mastercard and the Ukrainian government have signed a five-year agreement to boost Ukraine’s digital economy.
* The partnership will focus on digitizing public services, supporting SMEs, enhancing financial literacy, and strengthening cybersecurity.
* This collaboration is especially significant given the ongoing conflict in Ukraine and the country’s commitment to digital transformation.
* mastercard’s investment demonstrates a long-term commitment to Ukraine’s economic recovery and growth.
This partnership signifies a crucial step towards building a more resilient and technologically advanced Ukraine, positioning the country for sustainable economic growth in the years to come. The success of this initiative will depend on effective collaboration between the public and private sectors, and also a continued focus on innovation and inclusivity.