President Anura Kumara Dissanayake emphasized the government’s goal to elevate Sri Lanka, currently lacking competitiveness in innovation, to a level comparable with other nations. He highlighted the pivotal role digitalization will play in this transformation and the need for significant changes within the innovation sector to achieve these objectives.
Speaking at the Innovation Island Summit – 2025, held on February 20 at the ITC Ratnadipa Hotel in Colombo, President Dissanayake noted that the summit’s presence in Sri Lanka reflects growing interest in fostering new entrepreneurial ventures and innovation within the country. He discussed how innovation has shaped human civilization, evolving the ways needs are met, and stressed that new markets are created when these needs are addressed in novel ways.
The President pointed to neighboring India as an example of success, driven by recognizing and capitalizing on evolving innovation models. He expressed confidence in the untapped opportunities for innovation within Sri Lanka and outlined a vision to lead the country toward digitalization by 2030.
Further, President Dissanayake emphasized that innovation has been prioritized in the current national budget, with a focus on utilizing new discoveries for commercialization. He also projected export revenue of USD 19 billion for the year, stressing the critical need for transformation in the innovation sector to meet this target.
Highlighting the government’s responsibility to create an environment that allows the benefits of innovation to reach the broader population, the President acknowledged Sri Lanka’s challenges in the global economic arena and the urgent need for digitalization and innovation. He invited international partners and investors to contribute to Sri Lanka’s growth and emphasized the country’s skilled workforce and supportive environment for business and innovation.
