Abstract:
The more comprehensive goal of this concept paper is to argue for the creation
of a bioeconomy as a novel development model towards a sustainable Sri Lankan
economy focusing on its emerging nature as well as its vulnerability to challenges
like environmental degradation, resource depletion and economic vulnerability.
A bioeconomy involves the reorganization of the resource base with a focus on
biological assets and the utilization of plants, animals and microorganisms for
their generation of food, materials and energy in a sustainable manner. The
strategic location of Sri Lanka as a country with extensive agricultural land,
diverse bio-diversity, and the need for economically sustainable and equitable
growth. Therefore, this paper formulates a conceptual framework that can be used
to build a bioeconomy structure in Sri Lanka with main sectors such as
agriculture, energy and biotechnology. This concept paper seeks to outline a
coherent strategy on how to overcome these challenges and it is proposed that the
solutions should be informed by the collaborative effort of government, the
private sector, academia and the communities. Thus, this paper identifies the key
components and implications of a bioeconomy for Sri Lanka and seeks to
contribute to further theoretical analysis, policy debate as well as practical
implementation plans for developments that are both economically prosperous
and environmentally benign. This work advances knowledge of bio economies in
emerging nations and provides practical guidance for Sri Lanka’s bioeconomic
growth.
