Marching Towards a Bioeconomy

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.