By unusuma.lk on (LK time)
Minister of Industry and Entrepreneurship Development, Sunil Handunnetti, has announced that the government will introduce a series of environmentally friendly products rooted in green energy principles within the next two years. These products will aim to preserve the nation’s unique identity while supporting sustainable development.
Handunnetti made this statement during a recent visit to the VEGA Innovations facility in Maradana, where he had the opportunity to observe groundbreaking technologies. Among the innovations were the VEGA electric car, which is proudly recognized as the world’s third-fastest electric vehicle, the fully local electric three-wheeler, and other cutting-edge AI-powered products.
The Minister emphasized the government’s commitment to creating an enabling environment for sustainable technologies, underlining that the current administration is ready to implement necessary policy changes to remove obstacles hindering the promotion of green products, both locally and internationally.
During the visit, VEGA Innovations’ CEO, Dr. Harsha Subasinghe, shared his vision for the future of artificial intelligence (AI). He projected that by 2030, the AI industry could grow to a remarkable $1.5 trillion, with Sri Lanka having the potential to capture at least 1% of this market, which translates to a potential $150 billion opportunity.
Dr. Subasinghe also highlighted the rapid global growth in demand for electric three-wheelers, a market currently valued at $30 billion. He suggested that Sri Lanka could tap into 10% to 15% of this sector, which would significantly boost the local economy.