The Federal Law stipulates changing the full and abbreviated names of the Rostekhnologii State Corporation to Facilitate Development, Production and Export of Hi-Tech Industrial Products (Rostekhnologii State Corporation), as established by the Federal Law of November 23, 2007 No. 270-FZ On Rostekhnologii State Corporation (hereinafter — the Law), to the Rostec State Corporation to Facilitate Development, Production and Export of Hi-Tech Industrial Products (“Rostec State Corporation”).
The amendment specifies the name of the Law and its provisions, stipulating the appropriate changes to federal laws that use the current full and abbreviated name of the corporation.
The need to change the name of the corporation is due to the fact that the name “Rostec” has already been used successfully for marketing and advertising purposes at expositions in foreign countries in 2013 and was positively perceived by foreign partners and the Russian audience.
The Federal Law also complements the Law’s definition of the corporation’s objectives (participating in social and other socially significant projects in the interests of the government and society) and its main functions (assisting in the construction (creation) of hi-tech facilities).