A memorandum of understanding (MoU) was signed on Tuesday (15) at the Presidential Secretariat between STEMedical of the United States (US) and the Sri Lanka Institute of Biotechnology (SLIBTEC) to establish a laboratory with internationally recognised accreditation, the President’s Media Division said.

The MoU for this $ 15 million investment project, conducted under the guidance of the National Initiative for Research and Development Commercialisation, was signed by the founder of the said American Company, Prof. Hans Keirstead, SLIBTEC Chairperson Prof. Samitha Hettige and its Chief Operating Officer Amali Ranasinghe.

There has been a need to enhance the capacity of laboratories with internationally recognised accreditation for testing purposes across many sectors, including health, agriculture, cosmetics and Ayurveda, as well as in the import and export fields. This laboratory is expected to function as a main lab, working in conjunction with existing laboratories across the island, to ensure the quality of goods and services in various fields.

The Senior Presidential Advisor on Science and Technology, Prof. Gomika Udugamasooriya said that accreditation is very important for a country. He emphasised the significance of a laboratory project with such accreditation facilities in achieving the Government’s objective of doubling the country’s export revenue by 2030.

Prof. Keirstead stated that the current leadership in Sri Lanka has a broad vision for the scientific sector and has been able to identify developmental needs such as enhancing the laboratory capacity. He also said that this project would bring many benefits to the country, not only clinically but also economically. Keirstead further mentioned that it would attract the attention of economic experts and generate revenue by bringing items such as medicines from other countries to Sri Lanka for accreditation.