President Anura Kumara Disanayake stated that the government’s aspiration is to elevate Sri Lanka, currently not a competitor in the field of innovation, to a comparable status with other countries, emphasizing that digitalization will play a crucial role in achieving this objective.
The President highlighted the necessity of implementing significant transformations within the innovation sector to meet these goals.
These remarks were made by President Disanayake at the Innovation Island Summit – 2025, held yesterday (20) at the ITC Ratnadipa Hotel in Colombo.
The President stated that hosting the Innovation Island Summit – 2025 in Sri Lanka signifies the growing interest and aspirations of new entrepreneurship in the country regarding innovation. He further said that that various stages of human civilization have been identified, with each new chapter being shaped by innovation.
He underscored the importance of innovation in advancing human civilization to new stages, stating that while people’s needs remain constant and the means of fulfilling those needs have changed.
The President explained that innovation drives the creation of new markets by addressing emerging needs, and that new markets emerge only when the method of fulfilling needs changes. He also noted that countries that have achieved success globally have done so by recognizing and capitalizing on these changes, with neighbouring India serving as a prime example.
The President expressed confidence in the substantial opportunities for innovation in our country, stating that Sri Lanka aims to pave a new path in digitalization by the year 2030.
President Disanayake also mentioned that the current budget prioritizes innovation and emphasized the importance of utilizing new discoveries for commercialization.
The President projected export revenue of USD 19 billion for this year, emphasizing the need for a significant transformation in the innovation sector to realize this revenue target.
He stated that creating an environment for the benefits of innovation to reach the entire population is a government responsibility, reiterating that the government’s numerous goals are intertwined with innovation.
The President also highlighted the challenges Sri Lanka faces in the global economic competition, along with the necessity for digitalization and innovation. He invited international partners and investors to come to Sri Lanka and requested that new investments be directed towards the country.
He further mentioned that a positive environment for innovation and business has already been established in the country and that we possess a skilled workforce to support this initiative.
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