Entrepreneurial development essential for achieving govt’s vision to attract investment - PM
November 15, 2025 09:28 am
Prime Minister Dr. Harini Amarasuriya stated that as the country moves towards a digital economy through a new transformation, all sectors must work together in the national mission of empowering local entrepreneurs.
The Prime Minister made these remarks while participating in the inauguration ceremony of Global Entrepreneurship Week, held under the theme “Together We Build,” at Temple Trees premises yesterday (14). The event was organized by the Ministry of Digital Economy, the Prime Minister’s Media Division stated.
Addressing the event, the Prime Minister further stated:
“Global Entrepreneurship Week 2025 begins today. It actively contributes to building an entrepreneurial culture in the country and creating the necessary opportunities for that purpose. This week aligns with our national objectives. Creativity, collaboration, and innovation are vital for the future development of the country.
Our government’s vision is to create a country where ideas become opportunities, innovation attracts investment, and citizens can benefit from them. Entrepreneurial development is essential for achieving this vision. Similarly, entrepreneurship is also a crucial factor for economic diversification, export growth, youth empowerment, and balanced development.
During Global Entrepreneurship Week in 2024, over 20,000 people engaged in more than 207 programs conducted across 25 districts islandwide.
According to the 2024 Global Innovation Index, Sri Lanka ranks 89th. Although we show relatively good performance in innovation outputs, data makes it clear that innovation inputs, such as infrastructure and investment, are still at a weak level.
The Global Entrepreneurship Monitor (GEM) Report (2024/25) states that 49% of adults worldwide refrain from starting a business due to fear of failure. This highlights the importance of building a strong support system.
In 2023, Sri Lanka gained a significant demographic advantage, with a youth population of approximately 5.1 million aged between 15 and 29 (23.6% of the total population). Although this youth population is digitally literate, we understand that they still face challenges such as limited access to capital, fewer mentorship opportunities, and a general reluctance to take risks.
Therefore, the government has established a Digital Task Force consisting of 30 members under education reforms. Measures are being implemented to connect all schools to the internet, provide smart boards, computers, and digital devices, and enhance knowledge. A full policy framework for digital education is being prepared to be presented to the Cabinet by March 2026.
The 2026 National Budget has allocated Rs. 1.5 billion as a Start-Up Fund to advance the digital economy and entrepreneurship among youth and emerging entrepreneurs.
Additional provisions have been allocated for AI and cloud computing research, digital infrastructure development (broadband vouchers), and investment incentives. I would also like to mention that the government has proposed a Digital Economy Act, a new Digital Economy Authority, the Sri Lanka Unified Digital Identity (SL-UDI), and an Integrated Digital Payments System.
For the development of the economy and every sector of the country, we must all work together for a national agenda. Rather than working separately, it is necessary for all to start a collaborative national movement.
The government, industry, academia, and entrepreneurs must collaborate in resource mobilization, building mentorship networks, simplifying regulations, and opening access to global markets.”
The event was attended by the Deputy Minister of Digital Economy Eng. Eranga Weeraratne, Deputy Minister of Industries and Enterprise Development Chathuranga Abeysinghe, President’s Advisor on Digital Economy Dr. Hans Wijayasuriya, Secretary to the Ministry of Digital Economy Varuna Dhanapala, as well as entrepreneurs, investors, and a large gathering.
