Sri Lankan Minister says country focused on innovation to improve enterprise competitiveness and create better jobs
Sri Lanka is placing new focus on driving innovation to improve enterprise competitiveness and create better jobs, Sri Lanka’ Minister of Development Strategies and International Trade Malik Samarawickrama has reportedly said during a meeting with global innovation expert Professor Soumitra Dutta recently.
The meeting had taken place alongside the visit of Prof. Dutta for the ‘SLASSCOM Innovation Summit and Awards 2018’.
According to local media reports, during the discussion, Samarawickrama had invited Dutta to provide input to the ‘Innovation and Entrepreneurship Strategy’ currently being finalised.
The Minister had reportedly agreed with Prof. Dutta that the innovation agenda needs to have support at the highest level.
The Minister had said the Sri Lankan government would look to set up a suitable coordination mechanism to drive forward the changes needed to make Sri Lanka a more innovative economy.
Dutta is the founder of the ‘Global Innovation Index’, widely regarded as the foremost measure of countries’ innovation performance. He is a Professor at the Cornell University SC Johnson School of Business and was formerly attached to the INSEAD Business School.
According to Samarawickrema, Sri Lankan companies need to become more innovative to compete in a dynamic global landscape, especially as the Sri Lankan economy opens up more to the world.
The Minister had noted that as technological changes are occurring very rapidly it equalises countries and Sri Lanka has an opportunity to latch on to this new wave and can gain from the shifts taking place.
According to reports, the Ministry of Development Strategies and International Trade is leading the formulation of the ‘Innovation and Entrepreneurship Strategy 2018-2022’, together with the Ministry of Science, Technology and Research, and the Ministry of Industry and Commerce.
The emphasis laid by the Sri Lankan government on driving innovation to improve enterprise competitiveness and create better jobs would add to the improving business environment in the country. It would also promote entrepreneurship in Sri Lanka as well as create a skilled workforce prepared to meet the global demands resulting in the further improvement of the ease of doing business in the island nation. Sri Lanka would therefore be an ideal venue to serve as a business hub for foreign business entities.
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