Reimagine. Reinvent. Rise – PM Urges to Embrace Innovation

COLOMBO (News 1st); Sri Lankan Prime Minister Dr. Harini Amarasuriya has issued a powerful call to action for Sri Lanka to embrace innovation as a central pillar of national development, warning that the country’s failure to prioritize innovation has contributed to its economic decline.

Speaking at the Serendipity Knowledge Program on ‘Innovation for Economic Transformation’ organized by the Asian Development Bank (ADB), the Prime Minister reflected on Sri Lanka’s historical position as a regional leader in development, noting that in the 1960s, Sri Lanka’s economy was ahead of South Korea’s and admired by leaders such as Singapore’s Lee Kuan Yew. 

However, she acknowledged that the country has since fallen behind, briefly reaching upper-middle-income status in 2019 before regressing in 2020 due to the COVID-19 crisis and structural weaknesses.

“Innovation is not a luxury—it is the catalyst for meaningful transformation,” she said. “It must be ethical, inclusive, and sustainable, driving growth while reducing inequality.”

Dr. Amarasuriya emphasized the need for the state to take on an entrepreneurial role, setting policy direction, partnering with the private sector, and actively engaging across the innovation chain. She called for a reimagining of how Sri Lanka lives, works, and governs—highlighting the importance of green technologies, renewable energy, and the circular economy in building climate resilience and sustainable development.

The Prime Minister noted that innovation is essential not only for overcoming the current economic crisis but also for escaping the middle-income trap and securing Sri Lanka’s place in a rapidly evolving global landscape.