Sri Lanka’s Minister of Industries and Commerce Rishad Bathiudeen says Sri Lanka lags behind other countries in innovations and more innovations are needed if the industries were to develop and lift the country economically.
According to the Minister, Sri Lanka has admitted that its innovation rankings are low and needed to improve as innovations are a key activity in economic reforms and wants the education system to be involved so that innovation mind-set in the workforce could be developed from early on.
“For us to develop our industries more and more innovations are needed,” said Minister Bathiudeen addressing the second day opening of INCO industrial expo, the premier industrial exhibition organized by the Institute of Incorporated Engineers Sri Lanka annually at BMICH on 23 June.
“We need to create interest in innovations from the secondary education levels-such an approach can lift Sri Lanka’s low ranking in Global Innovation Index (GII),” said the Minister.
He said the unity government of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe plans to use innovations and research and development as part of its economic development vision.
“We need to create interest in innovations from early on, in that, from the secondary education levels; and we also should reward for successful innovations by our students. Such an approach can lift Sri Lanka’s rankings in Global Innovation Index to much better levels in the long run-from 2017’s low ranking of 90,” the Minister emphasized.
According to Minister Bathiudeen, though several Lankan universities and other institutions conduct R&D, there is no introduction to innovations at any school education level. Sri Lanka is ranked 90th in Global Innovation Index (GII) report for 2017 and ranked 94th in the Innovation “Input Sub-Index” and 77th in “Innovation Output Sub-Index”. Sri Lanka has fallen 23 spots in Innovation Input in 2017 (though Sri Lanka has improved by 38 in Output Sub-Index).
The Global Innovation Index (GII) report for 2018 will be launched at Cornell Tech Campus, New York City on July 10, with this year’s focus being the state of innovation in the energy sector across countries ranked.
INCO, the largest engineering related and most customer focused exhibition in Sri Lanka, is endorsed by the Ministries of Industry and Commerce, Primary Industries, and Power and Renewable Energy and was organized by the Institution of Incorporated Engineers, Sri Lanka.
The 2018 expo is the 16th exhibition in the ongoing annual series presenting a unique opportunity to local & foreign investors, and companies entering the Lankan market for the first time. It is the best networking platform event for local and overseas investors vying for Lankan industrial sector.
