President: Kazakhstan needs new model of economic growth

ASTANA. KAZINFORM - The 4th industrial revolution is currently underway in the world. Universal digitization of the economy will result in the disappearance of whole sectors and the creation of conceptually new ones. The great changes we are witnessing today are the historical challenge and a chance for the nation at the same time, President of Kazakhstan Nursultan Nazarbayev stressed in the state-of-the-nation address.

"Today I set the task to ensure implementation of the 3rd modernization of Kazakhstan. It is necessary to create a new model of economic growth that will ensure competitiveness of the country on the global scale," President Nazarbayev noted.

The Kazakh leader said: "Presently many countries are trying to solve the same problem. I am confident that the shift to a new model of growth will vary from country to country. As for us, we must rely upon our strengths and not lose the potential we have jointly accumulated over 25 years of our Independence."

"This modernization is not a program on how to fight the existing global challenges, but a safe bridge to the better future towards the goals of the Kazakhstan-2050 Development Strategy that will be implemented on the basis of the National Plan "100 specific steps"," the President pointed out.

Nursultan Nazarbayev also added that the strategy has five priorities that will help ensure Kazakhstan's economic growth and its accession to the club of the top 30 developed countries in the world.