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EEF 2019 to Consider New Mechanisms to Stimulate Economic Growth in Far East

22 August 2019
Новые механизмы по стимулированию экономического роста  на Дальнем Востоке рассмотрят на ВЭФ-2019

The business programme of the 5th Eastern Economic Forum, which will be held in Vladivostok on 46 September, will host a discussion around key mechanisms and measures for stimulating economic growth in the Far East.

Russian President Vladimir Putin has set the goal of becoming one of the worlds five largest economies by 2024. To make it possible, the Russian economy will have to grow at a rate higher than the global average, primarily through the development of non-resource-based sectors. This task is especially relevant to the Far East in view of the goal of the national programme for the development of the region by 2035 to achieve economic growth of 6%.

Participants of the Countries Competing for Economic Growth: What is Russias Plan? session will consider experience stimulating the economy in Russia and abroad and discuss the mechanisms necessary for realizing growth potential. Tools will also be offered for inclusion in the Roadmap for Sustainable Growth of the Non-Resource-Based Sector of the Russian Economy. Currently, work on the implementation of this document continues out of the Analytical Centre for the Government of the Russia Federation at the instruction of the Russian President.

The session will be attended by representatives of Russian ministries and departments, business communities, governors of the Far Eastern Federal District, and foreign experts, with Presidential Commissioner for Entrepreneurs Rights Boris Titov moderating the discussion.

«In order to fulfil the KPIs from the Russian Presidents Decree and the List of instructions for the implementation of the Presidents Address to the Federal Assembly, we will need to grow at a rate of 55.6% per year until 2024. We need a proactive policy, otherwise by 2023 Indonesia will pass us by, and we will be left in seventh place. The task of economic growth belongs to economic agencies and society as a whole», Titov said.

Reference Information

The Eastern Economic Forum

The Eastern Economic Forum is held annually with the objective of facilitating the accelerated development of the Russian Far Easts economy and expanding international cooperation in the Asia-Pacific region in accordance with the Executive order of the President of the Russian Federation No. 250 of 19 May 2015.

The 2019 Eastern Economic Forum will be held in Vladivostok from 46 September. Far Eastern Federal Universitys (FEFU) campus on Russkiy Ostrov will serve as the forums venue.