There’s greater demand in the job market for graduates of private colleges and less demand for state university graduates since they do not keep up with the latest developments, Education Minister Dr Susil Premajayantha said. He was speaking at the International Industrial Expo 2024 held at the Bandaranaike Memorial International Conference Hall (BMICH) on June 23. The country’s education system necessitates a complete modernisation, he said. According to the Minister, research and development should be carried out for the nation’s industrial development beginning at school and progressing to universities, with the required measures taken to convert university research into products.

“School Entrepreneurship Circles were initiated by the Industrial Development Board at the Ministry in June 2023. Currently, 16,000 students from 400 schools are engaged in these school-based entrepreneurial endeavours,” Minister Premajayantha said. He added that circulars would be issued for the creation of entrepreneurship circles in educational institutions. By 2030, a programme run by the Industries Ministry seeks to raise the proportion of entrepreneurship in Sri Lanka’s workforce from 2.8% to 10%, according to Secretary to the Education Ministry Thilaka Jayasundara.

The proportion of entrepreneurs has increased as a result, rising from 2.8% in 2023 to 3.2% in 2024, Ms Jayasundara noted. She added, “The positive trend in entrepreneurship development is being promoted through school curriculum inclusion and the establishment of 12 professional skills institutes in Sri Lanka.” Ms Jayasundara said the per capita income of Sri Lanka is expected to triple when the country’s entrepreneurship rate reaches 10%. -NA