(Corrects to say 21st century in fourth paragraph.)

June 29 (Bloomberg) -- General Electric Co. Chief Executive Officer Jeffrey Immelt said the period of crisis management prompted by the global recession is “behind us” and some level of economic growth will take place next year.

“I would say we have almost a fully functioning capital market,” the CEO said in comments today at the London Business School. “In some way, shape or form, 2010 and beyond will see economic growth. How positive it is remains to be seen.”

GE, the world’s biggest maker of turbines for power plants, jet engines and locomotives, plans to introduce more products in the next two years than ever before and will add goods at more price levels, Immelt said. The Fairfield, Connecticut-based company plans to spend more on research and development than last year, even as the economic slump continues, he said.

“The second part of our renewal is to really own two main themes: one is energy and the other is affordable health care,” Immelt said, calling those areas the “two big seismic themes of the 21st Century.”

The long-term effect of government stimulus packages remains to be seen, said Immelt, 53. Last week, the CEO said he didn’t expect a second major U.S. stimulus package and called on companies to invest now, even though it’s difficult.

GE plans to increase its involvement in public-private partnerships, where companies help fund government projects in return for long term contracts to operate schools, hospitals and other facilities, Immelt said. The company would focus on areas such as transportation, health care and energy.

Though financial markets are recovering, Immelt said he expects a permanent change in the way business will be done.

“Financial services probably isn’t going to be the same in my lifetime,” he said. “You’re going to see more regulation. The government has moved in next door and they’re not leaving.”

-- Editors: Ross Larsen, Andrew Noel.

To contact the reporter on this story: Scott Hamilton in London at shamilton8@bloomberg.net

Last Updated: June 29, 2009 12:01 EDT