KE Strategy

Nov 21, 2007 (LBO) – Sri Lanka could boost economic activity and social well-being through a knowledge economy (KE) strategy that makes better use of 'grey matter' the World Bank has said. "With globalization and the technological revolution of the last few decades, knowledge has clearly become the key driver of competitiveness and is now profoundly reshaping the patterns of the world's economic growth and activity," World Bank country director Naoko Ishii said.

"In these times of accelerated globalization, 'grey matter' is a country's main durable resource.

"Both developed and developing countries should therefore think, with some urgency, about their future under a Knowledge Economy (KE) heading."

Ishii was speaking at a forum organized by the ICT Agency of Sri Lanka. Ishii said Sri Lanka's government has already started on the path through e-Sri Lanka initiative, which has been supported by the World Bank.

Sri Lanka has also been attempting to change the education system, particularly the higher education system to produce graduates that the economy needs to develop, but critics say it has had only limited success.

Four Pillars

To become successfu