Russia will focus on the technology agenda and will announce participation in a number of new technology development projects at the World Economic Forum in Davos this year, Minister of Economic Development Maxim Oreshkin told reporters on Friday.
“Certainly, we will increase Russia’s role – participation of Russia in certain projects related to development of new technologies will be announced during Davos,” the minister said.
Budget surplus and replenishment of reserves are expected this year and the financial component of the forum is not so pressing for Russia now, Oreshkin said.
“The financial component of the Davos Forum is not of much importance for Russia now. The technology component is more important. That’s why leading technology companies of the globe are present here and trends in public administration and in technologies development are discussed. Therefore, I believe this will be the key component for Russia. There will be a lot of meetings and various events, where we will discuss the latest technology changes across the globe,” he added.
The 48th World Economic Forum will be held in Switzerland’s Davos from January 23 to 26, with the fourth industrial revolution being its key topic.
Meanwhile, World Bank CEO Kristalina Georgieva said on Friday that Russia is able to reach average global economic growth rates of around 2.9%.
“The World Bank projects a 2.9% global economic growth rate through 2020. I assume this is an attainable goal for Russia,” she said in an interview with Tass agency.
According to Georgieva, it is necessary to enhance the efficiency of capital and labor in order to achieve high growth rates.
“Specifically for Russia it means a serious approach to investing in people, in human capital, particularly in the quality of education and labor,” she explained.
Digitalization can totally change the structure of the Russian economy, which is already happening, Georgieva added.
Asked how seriously digitalization can change the structure of the Russian economy, she said: “It can turn it around, and it is already turning it around to be precise.”