PM stresses innovation is catalyst for Sri Lanka’s transformation

Prime Minister Dr. Harini Amarasuriya

ADB Country Director for Sri Lanka Takafumi Kadono

• Speaking at ADB Sri Lanka’s Serendipity Knowledge Forum calls for culture of innovation that is ethical, inclusive and sustainable
• Stresses innovation must be fundamental driver of change and growth
• Claims Sri Lanka’s failure to prioritise innovation cause for being laggard vis-à-vis some of Asian peers
• Calls for reforming overall education system to foster innovation; Urges universities to be at the heart of innovation ecosystem
• Says new Govt. committed to setting policy direction, partnering effectively with private sector in promoting innovation

By Nisthar Cassim

Prime Minister Dr. Harini Amarasuriya yesterday called for a culture of innovation that is ethical, inclusive, and sustainable to transform Sri Lanka to achieve higher socio-economic growth amidst global challenges. 

Noting that Sri Lanka hitherto hadn’t prioritised innovation – hence the country’s laggardness vis-à-vis some of the Asian peers, the Premier said that the new Government was committed to setting policy direction, partnering effectively with the private sector and promoting innovation.

She made these observations as the Chief Guest at the Asian Development Bank (ADB) Sri Lanka’s Serendipity Knowledge Forum on Innovation for Economic Transformation at the Cinnamon Grand, Colombo.

Dr. Amarasuriya said the ADB Sri Lanka’s Serendipity Knowledge Forum was timely as innovation for economic transformation resonates strongly with the new Government’s vision to take Sri Lanka on a new economic trajectory towards inclusion, resilience, and sustainability. 

She said in line with the rethinking of the State as having an entrepreneurial role in the economy, the Government is committed to setting policy direction, partnering effectively with the private sector and promoting innovation by active involvement throughout the innovation chain. 

Recalling that Sri Lanka used to be more advanced than Singapore or Korea in the 1950s and 1960s, Dr. Amarasuriya said there were many contributory factors for lack of progress thereafter, and one stood out clearly. 

“Our society has not prioritised innovation. To me, innovation is not a luxury. It is a catalyst for meaningful transformation in Sri Lanka. Innovation is not confined to technology. It is not in such a narrow focus. It is about re-imagining how we live, work, and govern. We must cultivate a culture of innovation that is ethical, inclusive, and sustainable. One that improves life, reduces inequality, and drives inclusive growth,” the Prime Minister said. 

She pointed out that innovation must also align with resilience and sustainable development through green technologies, renewable energy, and a circular economy.

“Despite years of discussion, however, innovation has not been treated as a fundamental driver of change. This must change now. Innovation is essential for Sri Lanka’s survival and prosperity in a rapidly evolving global landscape. It is a key to overcoming the economic crisis and escaping the middle-income trap,” she pointed out.

The Premier noted that by fostering innovation, Sri Lanka can diversify the economy beyond traditional exports and move towards high-value manufacturing services and integrate into global value chains. “Innovation enhances competitiveness, boosts productivity, and reduces costs.”

“It is also vital in addressing the existential threats, such as climate change, global warming, and rising sea levels. The urgency is real and the scale is unprecedented. Sri Lanka has a strong foundation for innovation,” stressed the Dr. Amarasuriya. 

In her address, Dr. Amarasuriya, who is also the Education Minister, called for reforming the overall education system to foster innovation.

“We need to reimagine our education to provide a more holistic, integrated education where we focus on critical skills, innovation, a spirit of inquiry – fundamentals of education – and we should really focus on the quality of the teaching-learning experience,” she said. The Prime Minister also cited success stories of the UK, Australia, and India in harnessing universities’ and private sector collaboration.

“Universities must be at the heart of our innovation ecosystem. They must serve as hubs of creativity, collaboration, and entrepreneurship, driving forward the ideas and solutions that will shape our future,” she said.

“The Government is eager to learn from researchers, innovators, changemakers, and investors. We are committed to supporting innovation through practical and effective policies and investment, while ensuring that our youth and private sector remain in the driver’s seat,” Dr. Amarasuriya said. 

ADB Sri Lanka Country Director Takafumi Kadono said the discussions at the Knowledge Forum will focus on all actors in the innovation chain, with a special focus on the Government and academics. “The Government is keen to tackle major challenges. We hope our impact will trigger new perspectives on driving innovation in economic transformation in Sri Lanka,” he added.

At the event, Professor in Economics of Innovation and Public Value and University College London Institute for Innovation and Public Purpose Founding Director Mariana Mazzucato gave a pre-recorded video presentation on ‘Innovation for Economic Transformation – The Role of the Government.’

There were two panel discussions. 

The session ‘Building the Innovation Ecosystem’ included Singapore’s Nanyang Technological University Associate Professor of Entrepreneurship Lerwen Liu, Senior Adviser to the President of Sri Lanka on Science and Technology Gomika Udugamasooriya, Hatton National Bank PLC Managing Director/CEO Damith Pallewatte, Hatch Co-Founder Jeevan Gnanam, and 3H Innovations Co-Founder and Director Heminda Jayaweera.

The discussion on ‘Aligning Education to Support Innovation’ included Education and Higher Education and Vocational Education Secretary Nalaka Kaluwewa, ADB Human and Social Development Sectors Department 3 Director Gi Soon Song, IITM Pravartak Technologies Foundation Head – New Initiatives Rajendra Mootha, University Grants Commission Sri Lanka Vice Chairman K.L. Wasantha Kumara, and Human Resources Development Project Director – Science and Technology C.S. Lewangamage. 

ADB Human and Social Development Sectors Department 3 Senior Director Ayako Inagaki and Finance Ministry’s Department of National Planning Director General Shiranthi Rathnayake provided a wrap-up of key conclusions of the forum.