PDPA can advance Sri Lanka’s digital economy
The Personal Data Protection Act has the potential to facilitate growth and innovation by advancing digital trade if the Data Protection Authority (DPA) and the Sri Lankan government successfully adopt suitable mechanisms to regulate cross-border data flows.
This was discussed at length at the recent panel discussion of the release of the Publication: ‘Personal Data Protection Act: and its Impact on Cross-Border Data Flows’ on Tuesday in Colombo. Sri Lanka enacted the Personal Data Protection Act, No. 9 of 2022 (PDPA) becoming the first South Asian country to enact comprehensive data protection legislation. As the main piece of legislation on data protection, it contains the country’s approach to cross-border data flows which the Act defines as the moment of personal data out of the territory of Sri Lanka to process personal data in a third country.
The publication said that the country’s digital trade moving forward will be dependent on whether the DPA and policymakers strike a balance in regulating cross-border data flows between promoting digital trade and economic growth and ensuring the adequate protection of personal data. It identified over-regulation and under-regulation as risks, and it must be navigated carefully by the future DPA and governments. The good or bad regulations in the cross-border transfer of data can materially impact the demand and supply of digitally traded goods and services both quantitatively and qualitatively either driving or indeed hitting the advancement of digital trade globally. The publication added that this is particularly pertinent to Sri Lanka, where the digital economy was estimated to be US$3.47 billion or 4.37 per cent of GDP in 2021 and is gradually increasing.
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