President Anura Kumara Dissanayake being welcomed by Indian High Commissioner Santosh Jah

 Summit co-host Capital Maharaja Group Chairman and Managing Director Sashi Rajamahendran greets President Anura Kumara Dissanayake

• Speaking at Innovation Island Summit-2025 AKD outlines vision to transform SL into competitive player in global innovation with digitalisation being key driver in achieving this goal
• Stresses need for significant transformations in innovation sector to position SL alongside other nations in technological advancement
• Says success of any nation depends on its ability to adapt to emerging trends
• Expresses confidence in establishing strong foundation in digitalisation by 2030
• Asserts shift is not just economic strategy, but necessity to remain competitive in global market
• Extends invitation to international partners and investors’ to explore opportunities in Sri Lanka’s growing innovation landscape

President Anura Kumara Dissanayake addresses inauguration of Innovation Island Summit-2025 on Thursday in Colombo

President Anura Kumara Dissanayake on Thursday outlined an ambitious vision to transform Sri Lanka into a competitive player in global innovation, stressing that digitalisation will be a key driver in achieving this goal.

Speaking at the Innovation Island Summit-2025, at the ITC Ratnadipa Hotel in Colombo, the President stressed the urgent need for significant transformations in the innovation sector to position Sri Lanka alongside other leading nations in technological advancement.

“The success of any nation depends on its ability to adapt to emerging trends,” he noted.  The two-day Summit jointly organised by the Observer Research Foundation (ORF), in collaboration with the High Commission of India, Colombo, and the Capital Maharaja Group (CMG) concluded yesterday.

Addressing a gathering of industry leaders, policymakers, and international stakeholders, Dissanayake highlighted that hosting the Innovation Island Summit – 2025 in Sri Lanka reflects the growing entrepreneurial spirit in the country and its commitment to fostering innovation.

He emphasised that throughout history, innovation has been the driving force behind human civilization’s progress. Although people’s fundamental needs remain the same, he said the ways in which those needs are met have evolved through technological advancements and new market opportunities.

Citing India’s technological advancements as an example, he shared of how a country can leverage innovation for economic growth.

Dissanayake expressed confidence in Sri Lanka’s potential for innovation, declaring that the Government aims to establish a strong foundation in digitalisation by 2030.

“This shift is not just an economic strategy but a necessity for remaining competitive in the global market,” he asserted.

The President further stated that the 2025 Budget places a strong emphasis on innovation, allocating resources to support new discoveries and their commercialisation.

The President projected export revenue of $ 19 billion for the year, stressing that achieving this target requires a major transformation in the innovation sector.

He called for a collaborative effort between the Government, private sector and international investors to drive technological progress.

“As the Government, it is our responsibility to ensure that the benefits of innovation reach every citizen,” he stated, adding that many of the Government’s development goals are directly linked to technological advancements.

Acknowledging the challenges Sri Lanka faces in global economic competition, President Dissanayake underscored the critical role of digitalisation and innovation in overcoming these obstacles.

He extended an open invitation to international partners and investors’ encouraging them to explore opportunities in Sri Lanka’s growing innovation landscape.

He assured potential investors that Sri Lanka has already established a business-friendly environment and boasts a skilled workforce ready to support the country’s digital transformation.

With innovation and technology at the core of the Government’s economic strategy, President Dissanayake reaffirmed his administration’s commitment to creating a dynamic and competitive innovation ecosystem.