Press briefing of Cabinet Decision taken on 2019-05-07

Establishment of the National Innovation Agency (NIA)

- Although the recent economic performance of Sri Lanka stands on a considerable level, to be a middle income country, the entrepreneur sector of Sri Lanka should generate better employment opportunities and contribute to the overall economic development of the country by adopting innovative technology, enhancing productivity and gaining access to the global value addition process and the new markets. As such, it has been proposed to establish the National Innovation Agency (NIA) to maintain the required coordination for the innovative, research and entrepreneurship development. This institute will review, coordinate and monitor the activities carried out by the stakeholders in regard to innovation. Taking into consideration the contribution to be made by this institute to the national economy, the proposal made by H.E. the President Maithripala Sirisena, to establish the said institute by a Parliamentary Act and to adopt the 'Innovation and Entrepreneurship Strategy for Sri Lanka (2018-2022) as the Road Map and Guiding Framework of the NIA, was approved by the Cabinet.