Kazakhstan’s recipe to avoid global crises

When speaking at the St. Petersburg International Economic Forum June 18, President Nazarbayev cited positive steps Kazakhstan has taken to avoid financial crises in future. “Global challenges are driving nations to shift to sustainable development. Kazakhstan has worked out its unique program to counteract these challenges. GDP growth in 2010 stood at 7%. We have set a clear goal not to allow growth deceleration”, President Nazarbayev stated. According to the President, his nation seeks to enter the club of high-income countries by 2016 and to bring the GDP per capita to $15 000. “Last year we adopted a strategic plan of the country’s development before 2020. It outlines key directions for modernization. The plan is to ensure economy diversification, development of human capital, enhancement of the overall business and investments climate (…)”, the President said. Kazakhstan plans to implement about 500 investments projects totally worth $80 billion before 2015, creating 200 000 new permanent jobs. “We are fully aware that the human capital is the foundation for sustainable economic development and the driving force for innovations. We have put in place a chain of the so-called “intellectual schools”. A new international university and an IT park have been launched in Astana (…) these facilities are expected to generate innovations”, he said. Besides, the President said that by 2016 Kazakhstan seeks to be a trade, logistics and knowledge hub in Central Asia. According to him, the West China – West Europe motor corridor, expansion of the Aktau Caspian sea port and construction of railways links to Iran and China will strengthen economic cooperation among the countries of the region.