This position paper proposes a Blue Economy development approach for Sri Lanka and highlights recommendations and commitments to a nationally driven sustainable Blue Economy pathway, anchored by a Marine Spatial Plan. The paper provides guiding principles to balance both the economic and conservation objectives of Sri Lanka’s marine territory and offers a broad governance framework for an inclusive, whole-of-society approach which is coordinated between the government, civil society, and the private sector. Further, this can be used by government policymakers for commencing internal discussions within the bureaucracy and to engage with academics, civil society organisations, international organisations, and private sector stakeholders working in Blue Economy sectors. This will build ownership, support human-centric design, mitigate risks, and establish accountability.