Future-Ready Sri Lanka — Building a knowledge-based economy through skilled human capital, ICT infrastructure, innovation systems and economic incentives
As Sri Lanka is steadily progressing with vaccination programs with a 84% rate as of today, we are gradually opening the country to revive all businesses and industries. The COVID-19 pandemic has drastically changed Sri Lankans lives, we’ve had to adjust to a new normal, but while the change and process of this adaptation has been difficult, we’ve acquired new skills, knowledge, and developed new behaviors. Right now, we see that it’s time to settle down with the truth that this new normal is here to stay.
Whilst the lockdowns were essential for the country to control the spread of the virus, it is no secret that these lock downs affected businesses of all sizes. The biggest impact was on the daily wage earners, small and medium businesses, and industries such as tourism which depend on international travel trade. Now that we are preparing to open our boarders and get back to new normalcy, it is important to acknowledge that post-pandemic economic recovery cannot take place by continuing to work the same way we used to. The world is rapidly evolving largely due to digital acceleration and it is a need of the hour that we build a national dialogue around the importance of embracing new normalcy, taking and managing risks, acquiring right skills, having a positive attitude and encouraging entrepreneurship and innovation.
I would like to take this opportunity to thank SLIM — Sri Lanka Institute of Marketing for coming forward with Future-Ready Sri Lanka national campaign with the aim of inspiring the nation in building a knowledge-based economy. Launched under the auspices of the Prime Minister’s Office, Future-Ready Sri Lanka is not merely a campaign but a national movement which any one or any organization can take part. Last year during the first wave, SLIM came together with Restart Sri Lanka campaign to support the efforts of reinvigorating the economy and over fifty years, the national body has supported the nation through the profession of marketing.
The key dynamics of creating a knowledge driven economy are; Educated human capital, innovation Eco-systems, ICT infrastructure and a positive institutional framework that provides economic incentives, policies and investments that encourage entrepreneurship.
Sri Lanka is well known for its educated and highly skilled human capital and ranks at top for human development index in South Asia. In order to create a knowledge-based economy it is crucial to have educated, trained and skilled human capital which lays the foundation. Having an eco-system that incubates and encourages Innovation is crucial as we have the capacity and capability to become a hub for innovation in Asia. ICT infrastructures play a huge role in facilitating knowledge-based industries and a society. Lastly, institutional framework is the backbone for facilitating a knowledge-based economy through policy reforms and economic incentives to such industries. Our recent move in appointing a committee to propose a policy on blockchain, digital banking and crypto currency is one such step towards making our regulation frameworks future ready.
Creating a Future-Ready Sri Lanka cannot be done alone, we need the partnership of the public and private sectors, and every single Sri Lankan in our nation such as; Policy makers, business leaders, entrepreneurs, women, youth, innovators, educators, trainers, and small and mid-size enterprises. I invite everyone to leave all differences a side and join hands with us in creating a Future-Ready Sri Lanka.
