COLOMBO, Jan. 8 (Xinhua) -- Sri Lanka on Wednesday launched a national initiative for R&D commercialization.
According to the President's Media Division (PMD), the initiative represented the government's strategic action plan to promote innovation across the country.
Speaking at the launch ceremony, President Anura Kumara Dissanayake emphasized that a strong new product development strategy could significantly enhance Sri Lanka's global market position while creating new opportunities for growth.
As part of the initiative, Sri Lanka introduced a website, nirdc.gov.lk, aimed at facilitating the commercialization of research and development.
The platform was designed to contribute to sustainable economic growth by supporting the production of value-added goods and services.
Dissanayake noted that Sri Lanka has historically lacked mechanisms to support, nurture and commercialize the ideas of its innovators.
He said that the nation has invested just 0.12 percent of its GDP in research and development in the past, and his administration was committed to using targeted investments to drive innovation and economic progress. ■
