Hosting a high-profile international forum like the Summer Davos can provide a significant economic boost to Liaoning Province, said Erich Kaiserseder, an Austrian and Chair of European Chamber Shenyang Chapter. He explained that it attracts investments, tourism, and international attention, which can drive local businesses and infrastructure development.

“Liaoning gets a unique opportunity to showcase its culture, economic strengths, and tourism to a global audience, improving its international reputation and appealing as a destination for future economic cooperation and tourism.”

Kaiserseder said the discussions and insights generated from the forum can help inform local economic policies and strategies, leading to more informed decisions that can drive economic transformation and modernization.

“Liaoning’s handling of the forum, combined with any showcase of successful local policies and initiatives, can serve as a model for other regions around the world in terms of sustainable economic growth and development.”

He noted that new ideas, technologies, and strategies discussed at the forum can diffuse across borders, encouraging worldwide innovation and technological advancement.

Under the theme “New Frontiers for Future Growth”, finding a sustainable path for economic growth is crucial for ensuring that development does not come at the cost of environmental degradation, ensuring a balance between economic performance and environmental protection, Kaiserseder said.

“Emphasizing ‘new frontiers’ points towards the role of innovative technologies and practices in driving future growth, encouraging investment in research and development across various fields.”

Kaiserseder added that the theme underscores the importance of global cooperation in solving complex and intertwined issues, promoting a sense of shared responsibility and collective action.

“Sustainable growth also implies inclusivity, aiming to create economic opportunities that are equitably distributed, and ensuring that the benefits of growth reach all segments of society,” he said.