Press release

14 May, 2019 Nur-Sultan

Astana Economic Forum: “Inspiring growth: people, cities, economies”

Astana Economic Forum: “Inspiring growth: people, cities, economies”

The theme of the upcoming XII Astana Economic Forum (AEF) to be held on May 16-17 is "Inspiring growth: people, cities, economies". The world has entered a new era of the fourth industrial revolution: natural resources and geographic locations are no longer a priority. Instead, the ‘technological efficiency’ of the economy, the level of urban development and the quality of human capital now take precedence. The success of the state in the modern world is determined by the readiness of government institutions and citizens for a new reality.

The Kazakhstan Economic Research Institute published an analytical review “Kazakhstan and the Global World: Challenges and Opportunities”. According to Yerlik Karazhan, the Chair of the Board of the Institute: “We want to demonstrate to the world the level of Kazakhstan’s participation in solving key global problems, the country's focus on open development, and readiness to search for effective solutions in various sectors.”

In the world of global digitalisation of knowledge, human economy comes first. At the same time, cities are changing. The world concentrates around big cities and agglomerations. According to Hans-Paul Burkner, Chairman of the Board of Directors, BCG, “By 2030 5,1 bln people or 60% of global population will be living in cities. Environmental pressures are unprecedented, today only 10% of residents of cities have adequate conditions at par with recommendations of the World Health Organization”.

«Three solutions will always remain valid I believe to ensure balanced growth. First – cities need to fully reestablish their structure of economy, pushing the labour intensive and environmentally challenging industries out to the regions and focusing on new economy – creative and service oriented sectors requiring qualified labour force (London is a great benchmark for this), second – local governments should have no mercy for polluters, increasing taxes and penalties and the same time giving real financial stimuli for the companies pursuing “zero-waste” and “closed-cycle” policies (Copenhagen is a benchmark here). Third – national governments would need to seriously review the territorial and labour force planning policies pursuing the principle of “people to infrastructure” ie bringing people closer to existing infrastructure, making them commute less and share scarce resources», – says Hans-Paul Burkner.

The global economy is also undergoing changes. “The current juncture is delicate for the global economy,” says Christine Lagarde, the Managing Director, International Monetary Fund. “A year ago, activity was accelerating in almost all regions of the world. However, we have

witnessed a slowdown since the second half of 2018, reflecting rising trade tensions and a tightening of financial conditions. We are expecting a rebound in late 2019, but it seems precarious and vulnerable to downside risks. These include country-related uncertainties, such as Brexit, and broader tension around trade and unease in global financial markets.”

All these issue to be discussed at Astana Economic Forum – the main global discussion platform in Central Asia. Since the launch of the AEF eleven years ago, the event has become one of the most influential international platforms for discussing issues of the world economy and the financial system. Over 50,000 delegates participated in the forum from 150 countries, including more than 20 Nobel laureates and 30 high-level foreign political figures.

About the Forum

The Astana Economic Forum is the flagship business event in Eurasia.Since the launch of the AEF eleven years ago, the event has become one of the most influential international platforms for discussing issues of the world economy and the financial system. Over 50,000 delegates participated in the forum from 150 countries, including more than 20 Nobel laureates and 30 high-level foreign political figures.As a result of previous Forums, more than 300 memorandums and agreements have been signed worth more than $20 billion.The theme of the AEF is updated annually and covers various global development issues, and sets the direction for a wide range of discussions.

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