Expert opinions

Franz Fischler: The economic sector is prudent and reluctant with new initiatives

Franz Fischler, President of European Forum Alpbach and former European Commissioner for Agriculture and Fisheries, is an expert at the upcoming Gaidar Forum in Moscow, organized by the Russian Presidential Academy of National Economy and Public Administration. Invest Foresight, the event’s strategic media partner, got a comment from Mr Fischler regarding the main challenges of 2020.

“We see economic growth rates decreasing almost everywhere and the investment climate is weakening. In Europe, the new Commission presented a very ambitious political agenda, in the US, the next presidential election campaign will start soon and there is more and more insecurity in many parts of the world. The economic sector is therefore very prudent and reluctant with new initiatives. Only clarity, solidity and security will help converting the economic situation into future confidence and a better economic climate,” Franz Fischler said.

In his view, “It seems to be very obvious that the most innovative and competitive industries will set the trend for the global economic development in the upcoming year. Amongst them, digitalization, biotechnology, AI and technologies which improve the relation between energy input and product output will be the front runners. The political discussions on the consequences of climate change and the announcements of very ambitious climate policy initiatives will promote the development of energy-efficient technologies and the growing scarcity of natural resources will steer the circular economy. We will see more and more pioneers in these fields because those entrepreneurs who are the fastest in launching new products onto the market will be the winners.”

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