Sri Lanka charts course to become South Asia's Blue Economy hub

Govt. unveils Blue Economy Vision 2030 to attract ocean-based investment at Marine Summit: Voyage Sri Lanka 2025, Focus areas include fisheries, ports, tourism, biotechnology and offshore energy, Policy reforms and tax incentives to drive private sector participation, ADB, IMO and UNDP back Sri Lanka's marine sector transformation

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LABOUR Minister and Economic Development Deputy Minister Dr. Anil Jayantha Fernando yesterday declared that Sri Lanka is setting sail towards a bold new future in ocean-based industries, aiming to position itself as the premier destination for Blue Economy investment in South Asia.

Delivering the keynote address at Marine Summit: Voyage Sri Lanka 2025, organised for the second consecutive year by the Export Development Board (EDB), Dr. Fernando outlined the Government’s Blue Economy Vision 2030, a strategic framework to unlock the vast potential of the country’s marine resources, identifying five key sectors, including sustainable fisheries and aquaculture, marine biotechnology and pharmaceuticals, port development and maritime logistics, marine tourism and recreation, and offshore and energy services, as priority areas for investment.

The summit, which brought together global experts, investors, policymakers, and industry leaders, served as a vital platform to showcase Sri Lanka's marine potential and attract strategic investments.

"The oceans surrounding us are not just a natural resource; they are the foundation of our future prosperity," Dr. Fernando said.

He noted that the Government's long-term commitment involves both policy reform and institutional strengthening to support private sector innovation and international partnerships.

"Our vision is clear to develop a resilient, competitive, and sustainable marine economy that generates employment, investment, and global partnerships," the Minister noted.

As per the identified five key areas, Dr. Fernando highlighted sustainable fisheries and aquaculture, with emphasis on modernising fishing fleets, improving cold chain logistics, and introducing value-added seafood processing for export. The second is marine biotechnology and pharmaceuticals, leveraging Sri Lanka's rich biodiversity to develop bio-based products and medical research ventures.