Sri Lanka is charting a new course for its post-crisis economic recovery this time, turning to the ocean. With a sweeping Blue Economy Vision 2030, the Government aims to transform the island into South Asia’s premier destination for ocean-based investment, capitalising on its strategic maritime position and rich marine resources.
Delivering the keynote at Marine Summit: Voyage Sri Lanka 2025 in Colombo, Labour and Economic Development Deputy Minister Dr. Anil Jayantha Fernando described the plan as a “bold, forward-looking vision” to unlock untapped potential in five key sectors: sustainable fisheries and aquaculture, marine biotechnology and pharmaceuticals, port development and maritime logistics, marine tourism and recreation, and offshore and renewable energy services.
“The oceans surrounding us are not just a resource they are the foundation of our future prosperity,” Dr. Fernando said, calling the initiative a cornerstone of Sri Lanka’s 2030 development agenda.
The strategy emphasizes both economic and environmental sustainability. Policy reforms are being implemented to streamline investor approvals, expand port and coastal infrastructure, and offer tax incentives for marine industries. The Government is also aligning these initiatives with the UN’s Sustainable Development Goal 14, “Life below Water,” to ensure long-term ecosystem balance.
Sri Lanka’s geographic position, straddling major East-West shipping routes, gives it a natural edge. With the expansion of the Colombo Port and the development of Hambantota and Trincomalee harbours, the country hopes to become a key logistics, bunkering, and ship-repair hub in the Indian Ocean.
“We sit at the crossroads of a trillion-dollar trade corridor,” Dr. Fernando said, underscoring the island’s potential to attract global maritime traffic and investment.
Beyond logistics, the plan highlights marine biotechnology and pharmaceuticals — areas where Sri Lanka’s marine biodiversity could support high-value industries such as bio-based medicine and cosmetics. Meanwhile, eco-tourism, diving, and coastal recreation will be integrated into the broader tourism strategy to diversify the sector.
Dr. Fernando also stressed the importance of environmental governance and skilled human capital. With an exclusive economic zone (EEZ) over seven times its landmass and a growing pool of maritime professionals, Sri Lanka aims to leverage both natural and human resources to secure long-term competitiveness.
The summit, organised by the Export Development Board (EDB), brought together global experts and investors, including representatives from the Asian Development Bank (ADB), International Maritime Organisation (IMO), and United Nations Development Programme (UNDP).
EDB Chairman Mangala Wijesinghe said the initiative marks a “turning point” for Sri Lanka’s marine economy. “By fostering innovation, sustainability, and international partnerships, we can make Sri Lanka the beating heart of South Asia’s Blue Economy,” he noted.
As the island nation rebuilds its economy, the Blue Economy Vision may be the compass that guides Sri Lanka toward a sustainable and globally competitive maritime future.
