February 08, Colombo (LNW): Central Bank Governor Dr Nandalal Weerasinghe has stressed that sustained economic growth in Sri Lanka will depend on the country’s ability to modernise and innovate across all areas of production.
Speaking at the International Conference of the Sri Lanka Economic Association in Colombo, he remarked that genuine prosperity cannot be achieved without building a competitive and efficient economic structure.
In this regard, he pointed to the importance of strengthening all three core sectors of the economy — agriculture, industry and services — rather than treating them in isolation.
Dr Weerasinghe noted that modern supply chains, both domestic and international, are increasingly interconnected. He explained that even a basic agricultural product requires the support of industrial processes and service inputs to be transformed into a high-value good capable of competing in global markets.
According to the Governor, nations that succeed in streamlining these linkages and improving productivity tend to advance economically, while those that fail to adapt risk being left behind.
He underscored that the adoption of new technologies remains the most decisive factor in ensuring that economic activity remains efficient, resilient and competitive at both national and international levels.
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