Abstract:
Bioeconomy has evolved as a solution to economic, social and
environmental problems within and across all the sectors of world
economies. It has brought about the materials technology shift from
synthetics to bio-based raw materials to introduce sustainable
technologies. Activities in the bioeconomy primarily involve the
production of biomass from plants, animals, microorganisms and its
conversion into bio-based products. Agriculture is a major component
in a bioeconomy. Countries with a larger landmass have a competitive
advantage in biomass production through agriculture hence a larger
bioeconomy. Sri Lanka, with its limited land availability, cannot expand
the land further for biomass production through traditional agriculture.
The bioeconomy of Sri Lanka therefore have to move beyond traditional
agriculture pursuing more scientific approaches for biomass
production and conversion. The use of crops as a renewable industrial
feedstock and the application of biotechnology are, therefore,
indispensable for the implementation of sustainable development
strategies in the country. The rich biodiversity on land and the sea of the
country is still underutilized and has a great potential to be used in
the pharmaceutical and biotechnology industries. There is a pressing need
in the country to create a motivated society to pursue the promising
prospects offered by the bioeconomy in development.
