2019 World Economic Forum Annual Meeting, Davos, Switzerland: Report on infrastructure sessions

Abstract

The infrastructure related sessions in the 2019 World Economic Forum (WEF) Annual Meeting in Davos had as their main objective to discuss and review major global challenges and opportunities for the infrastructure industry across all sectors. The participants discussed ways in which governments, regulators and other infrastructure stakeholders can enhance working relationships between the public and private sectors to bring about positive strategic systemic change. Focused discussions were organised around key areas, including the impact and role of: geopolitics, global and national economics, technology and technological innovation, capacity and institution-building plus governance in support of infrastructure development. Conversations focused on how current geopolitical dynamics are affecting infrastructure development globally – both positively and negatively. The prevailing global and regional geopolitical risk landscapes received particular attention, highlighting the increasingly difficult challenges for key stakeholders to more effectively and efficiently navigate their involvement in infrastructure development across different sectors and at different levels and scales of activity. Participants at these sessions highlighted the increasing incidence of private sector companies (both national and global) incorporating foreign policy considerations into their business strategies. As a pronounced illustration of this, participants discussed at some length the Chinese Government sponsored Belt & Road Initiative (BRI) – sometimes referred to as The Silk Road Project. The evolution of the BRI was presented in three phases: in its earliest phase – conceived originally as a multi-lateral infrastructure programme; in its subsequent phase when dominated by state-owned enterprises (SOEs); and in its current phase, which looks to focus on governance and bilateral government partnerships. Much discussion took place on the question of how compliance with international quality and sustainability targets/standards could be assured, and what strategic alliances are necessary to ensure deliverability with other countries in Asia (particularly Japan) and further afield. Looking ahead, discussants expanded their focus to include the Digital Silk Road. This was presented and discussed as an especially fast evolving and growing sector of mega infrastructure development interest that could potentially be transformative and set new digital standards world-wide. Looking at infrastructure development more globally, participants addressed the rising uncertainties of the global economic outlook and their impact(s) on major national and trans-national infrastructure investment. Citing the fact that such