As the race for the presidency intensifies, it is disheartening to see some candidates failing to present concrete economic plans. Instead, they resort to empty rhetoric, hoping to win over voters with hollow promises. However, politics is not a game of words; it requires well-thought-out strategies. Among the most critical elements that any serious economic plan must include is the ocean—an invaluable resource that has long been overlooked.

Sri Lanka is often described as a nation sitting on a treasure chest, surrounded by the vast expanse of the Indian Ocean. This includes a large Exclusive Economic Zone (EEZ) and a significant confidential shelf landmass rich in valuable graphite. Yet, despite the wealth of resources it offers, there has been no comprehensive plan to unlock its true potential. The ocean is not just a body of water; it is a reservoir of economic opportunities that could propel our nation to new heights.

In ancient Sri Lanka, visionary kings like Gajabahu, Nisshankamalla, and Parakramabahu the Great understood the ocean’s vital role in the kingdom’s prosperity and security. King Gajabahu used the sea to assert Sri Lanka’s dominance, forming alliances and enriching the kingdom through maritime trade. Nisshankamalla expanded this vision by building a powerful navy to protect trade routes and secure borders, facilitating the kingdom’s economic and cultural growth. Parakramabahu the Great further harnessed the ocean’s potential by launching naval expeditions to South India and Southeast Asia, showcasing Sri Lanka’s naval strength and securing crucial trade connections. His reign also emphasized the strategic importance of water management, linking the ocean’s resources to the kingdom’s prosperity. These kings viewed the ocean not merely as a boundary but as a gateway to power and wealth, laying the foundation for Sri Lanka’s historical maritime strength.

In today’s context, the ocean remains a critical asset that we must leverage to secure our economic future. We need to move beyond merely catching fish and explore how we can utilize other resources like our renewable energy and minerals. One of the most effective ways to do this is through Foreign Direct Investment (FDI). By attracting international investors, we can develop our maritime resources, enhance our infrastructure, and create new industries that generate much-needed foreign exchange. FDI is not just a source of capital; it is a way to bring in advanced technology, expertise, and global market access.

To fully exploit the potential of the ocean, we must develop a multi-faceted strategy that includes enhancing our maritime industry with advanced shipbuilding and port facilities, implementing sustainable fisheries management practices to boost exports, and promoting marine tourism to attract global eco-tourists. Additionally, investing in oceanic research and technology will help us responsibly explore and utilize underwater resources. Digitizing the entire ocean will facilitate international auctions for valuable resources such as graphite, while leveraging renewable energy and minerals. This comprehensive approach aligns perfectly with the principles of the Blue Economy, which focuses on the sustainable use of ocean resources to drive economic growth while preserving marine ecosystems. By adopting a Blue Economy framework, we can ensure that our ocean’s potential is harnessed responsibly, balancing economic benefits with environmental protection and long-term sustainability.

Our Navy, with its rich history and capabilities, can play a pivotal role in this plan. By expanding its operations beyond defense to include the protection of our marine resources and the facilitation of maritime commerce, the Navy can become a key driver of economic growth. Additionally, the relevant government ministries must undergo significant reforms to align their functions with this new ocean-centric strategy. This includes streamlining processes, enhancing coordination, and fostering partnerships with the private sector and international stakeholders.

As we stand at a crossroads, it is imperative that the people of Sri Lanka make informed decisions about their future. The ocean is our greatest asset, and it is time we recognized its value. Let us not be swayed by empty promises and flashy campaigns. Instead, let us demand a comprehensive and actionable economic plan that includes the ocean as a central pillar of our national development.

The future of Sri Lanka lies in the waves that surround us. It is time to harness that power and chart a course toward prosperity through the Blue Economy.

Ayesh Indranath Ranawaka
Editor in Chief oceanlust magazine

Ocean 1st by oceanlust