Smart Information Systems To Improve Quality Of Food Products

Fruits and vegetables

By Megan Thomas on Unsplash

Smart Information Systems To Improve Quality Of Food Products
Including improving the accessibility to laboratories to improve quality of food products for domestic and export purposes.
SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Food and Beverage
Food and Agriculture
Business Model Description

Invest in or provide project financing to: Develop a smart information system to improve information availability of key conformity assessment services focused on agriculture in Sri Lanka.

This will include investment to promote existing training programmes related to quality and technical aspects of export regulations (e.g. health, safety, environment, food safety, phytosanitaryband animal quarantine) among public and private sector and strengthen existing vocational training institutes by implementing a training of trainers programme.

Investment in businesses offering capacity building and information services relevant to market needs, to provide access to private standards (e.g. organic farming, kosher, halal, Good Agricultural Practices (GAP) and Good Manufacturing Practices (GMP). Examples of companies Active in this IOA space:

SGS Lanka (Pvt) Limited: Offers a complete range of services for exporters, importers, manufacturers and governments covering testing related to chemical, microbiology, textile and toy labs undertaken by a workforce of more than 200 qualified professionals. SGS Lanka is ISO 9001:2015 certified and laboratories are accredited to ISO 17025:2017.

Sri Lanka Standards institute (SLSI) is the the national standards body of Sri Lanka formulates standards that are adopted by the authorities which was established in 1984 (Act No. 6 of 1984). It offers a variety of services that covers product and system certifications, quality assurance etc. SLSI is the designated WTO/TBT National Enquiry Point on Standards and Technical Regulations.

Expected Impact

Improves quality and safety of agri based products leading to improvement in domestic food security and an increase in the potential for value added agricultural exports

Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
Full implementation of NQI strategy expects 62% IRR (7)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Medium Term (5–10 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
USD 50 million - USD 100 million
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
< USD 500,000
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Zero Hunger (SDG 2) Responsible Consumption and Production (SDG 12)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Industry, Innovation and Infrastructure (SDG 9) Good health and well-being (SDG 3) Decent Work and Economic Growth (SDG 8)
Sector Sources
  • 1) Department of Census and Statistics (2022). National Account 2015 Base. 2) Central Bank of Sri Lanka (2022). Annual Report 2021. 3) Department of Census and Statistics (2022). Quarterly Report of the Sri Lanka Labor Force Survey - Second Quarter 2021. 4) United Nations Office for the Coordination of Humanitarian Affairs (OCHAO and The UN Resident Coordinator's Office (RCO) (2022) Sri Lanka Food Security Crisis - Humanitarian Needs and Priorities: June – Sept 2022 5) The National Agriculture Policy (2021): %20NAP/NAP%20Web%20Version%20-%2026%20March%202021.pdf 6) UNICEF: Sri Lanka Appeal Humanitarian Action for Children (2022): 7) National Export Strategy: National Quality Infrastructure (2018-2022): 8) World Bank NQI gap analysis (as highlighted in National Export Strategy: National Quality Infrastructure (2018-2022): 9) National Quality Policy (2016):
IOA Sources
  • (10) The Public Investment Programme (2021-2024): 11) Sustainable Development Council Website for SDG indicators: 12) Imports and Exports Control Act No.1 of 1969: 13) National Environmental Act Amendment (2000): 14) Directions issued under the Consumer Protection for Sri Lankan Standard (SLS) Marking Act No. 1 of 1979: 15) Consumer Protection Act No 9 of 2003: 16) Guide to Income Sources (page 52 - Enhanced Depreciation Allowance): 17) SGS Lanka: 18) Sri Lanka Standards institute: 19) Sri Lanka Accreditation Board for Conformity Assessment (SLAB): 20) Department of Measurement Units, Standards and Services (MUSSD):