Former Deputy Leader of the United National Party, MP Ravi Karunanayake, says that Sri Lanka must bring in new business opportunities in the form of investments if it hopes to strengthen its economy.
Speaking to the media, he emphasized that the country should focus more on products and industries that are not currently produced locally.
Citing global examples, Karunanayake noted that many groundbreaking innovations have transformed national economies. He highlighted Apple’s flagship product, the iPhone, as a prime example — pointing out that the revenue generated from iPhone production alone is more than three times the GDP of Sri Lanka.
The MP added that one of Sri Lanka’s major weaknesses is its continued dependency on imports, rather than moving towards innovation and high-value production.
