Innovation and knowledge are the keys to development: Min Patali Ranawaka at KDU inauguration event

Innovation and knowledge are the keys to development: Min Patali Ranawaka at KDU inauguration event

Innovation and knowledge are the keys to development: Min Patali Ranawaka at KDU inauguration event

Written by Tharushan Fernando

29 Jan, 2016 | 8:36 pm

The inauguration ceremony of  the Master’s Degree programme 2016 at the General Sir John Kotelawala Defence University was held at the university auditorium on Thursday.

Minister of Megapolis and Western Development Patali Champika Ranawaka, presiding over the event, noted that the contemporary global economy is surely and slowly changing towards a knowledge-based economy. He noted that  it is important to mention that when you’re not globally competitive then the 3rd stage of development initiative becomes important and the 3rd stage will be the innovation- driven economic strategy.

He  added the only Asian country that has achieved this feat of modern development by breaking the traditional barriers to grow, is Japan, and with the beginning of the 21st Century the fourth phase of the industrial revolution also known as the ‘new’ industrial revolution was seen

“We are now getting closer to a new reality which is a synthesis between the physical world and the virtual or hyper reality,” he said He added that this can be called as” a smart world” – and in this context innovation and knowledge are the key to development and survival in this extremely competitive global economic environment.

The opening ceremony of the KDU Elevator Laboratory in the Faculty of engineering was also held in line with the event.

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