Priorities to strengthen innovation economy mentioned in President’s Address will have stimulating effect on all key sectors - Professor Sholpan Smagulova

- Global financial crisis is affecting the stability of economic development against the slowing global economic growth. Therefore, current conditions and trends dictate the need for closer integration of government and business in order to create an effective economic policy, with a view to the development of innovative processes in the framework of mutually beneficial international cooperation.
Achieving sustainable economic growth is directly linked to the intensification of innovation sphere. Thus, the President's address outlines "strengthening the innovation trend of industrialization".
President emphasized that the gradual establishment of «car and aircraft manufacturing and further transition to the introduction of nano-technology and aerospace industries involves organizing genetic engineering, search and identification of the energy of the future». Indeed , it will reorient local economy from dependence on raw materials' processing to high-tech industries dominancy. In this regard the development of innovative activities of domestic national companies is of high importance because that will directly stimulate technological growth, industrial and social modernization against the backdrop of flourishing economy of Kazakhstan.
National companies' place in the field of innovation and scientific and technological development due to their particular financial capabilities and large scientific potential, specific structure of the economy of Kazakhstan where the dominant positions are occupied by state corporations. Therefore, to support the activities of national companies, as stated in the address, the state is to create the most favorable conditions for the enhancement of Kazakhstan's business.
The document rightly defined that "introduction of knowledge-based economy model aims to increase to 70 % the share of non-oil products in Kazakhstan's export potential". With a glance to the intensity of scientific progress development assimilation of novel technology is almost impossible without investments. Investments' involvement in research allows large companies to maintain a sufficient level of quality and competitiveness of manufactured goods. Therefore, investment activity plays a significant role in achieving upward advancement of holdings and corporations.