Sustainable Industrialization, Innovation Development, Responsible Production and Consumption in African and Asian Regions

A host of problems of the African continent, among which one can name narrow specialization of countries in production of one raw material or food export product, predominantly agricultural type of production, poor development of the manufacturing industry, have led to most African countries currently occupying the lowest lines in the world manufacturing and investment potential, innovation development, and sustainable production and consumption rankings. In many ways, this is a legacy of the long colonial past.

According to experts, from 20 to 25% of the inhabitants of our planet will live in Africa by the middle of this century. If the level of economic development remains the same, such demographic pressure may lead to aggravating serious humanitarian problems which will need to be addressed by the world community. A significant number of the able-bodied population in combination with the existing natural resource potential is a factor in Africa’s active rather than passive participation in the world economy and formation of a new economic model of the world. This is possible only with the formation of an appropriate production environment (industrialization), scientific and technological progress (innovation) development, investment potential development, as well as increasing the rationalization of production and forming rational consumer behavior among the population.