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Presidential Executive Office2025
Events

Modernisation is impossible without fighting corruption and promoting fair competition

Dmitry Medvedev made this statement at a meeting of the Commission for Economic Modernisation and Technological Development of Russia’s Economy.

July 27, 2010
16:00
Moscow
Meeting of the Commission for Modernisation and Technological Development of Russia’s Economy.
At a meeting of the Commission for Modernisation and Technological Development of Russia’s Economy. With First Deputy Chief of Staff of the Presidential Executive Office Vladislav Surkov.
At a meeting of the Commission for Modernisation and Technological Development of Russia’s Economy.
Meeting with students and staff at the National Research and Technology University MISiS (Moscow Institute of Steel and Alloys).
Meeting with students and staff at the National Research and Technology University MISiS (Moscow Institute of Steel and Alloys).
Meeting with students and staff at the National Research and Technology University MISiS (Moscow Institute of Steel and Alloys).

The President said that modernisation must not be seen as simply upgrading technology. No modernisation will be possible without resolving key issues such as fighting corruption, reducing bureaucratic pressure, and establishing the conditions for fair competition.

Creating attractive conditions for doing business and investing is an absolutely fundamental part of building an innovative economy. This applies in full measure to developing a venture financing market in Russia – the subject discussed at the Commission’s latest meeting.

Mr Medvedev said that there is a clear trend now for Russian companies to spend more on research and development, but there is still little venture risk capital on the market. A number of measures are needed to develop venture financing, among which the President named developing a system of expert evaluations and services, effective use of grants and repayment financing mechanisms, overall financial market development, and ensuring the smooth operation of all links in the innovation chain. 

Russia has enough potential to carry out venture projects, but there are only a few successful examples so far and this has not been enough to form a system, and so the main task now is to create the system that would develop scientific research and encourage start-ups.

Mr Medvedev also announced the signing of a number of laws on economic modernisation that have come out of the Commission’s work. The laws signed include a law on provision of government and municipal services, a law simplifying procedures for recognising academic degrees, titles and diplomas, a law on the National Research Centre Kurchatov Institute, and a law regulating the production, transmission and consumption of heating supplies.

The Commission met at the National Research and Technology University MISiS (Moscow Institute of Steel and Alloys). Before the meeting started, the President met with students at the university, who presented their project to develop helicopter transport as an alternative to building an extensive road network. 

MISiS is one of Russia’s top universities for training engineers and scientific specialists for such sectors as metallurgy and materials studies, development of new materials and technology, efficient use of resources and ecology. A centre for industrial design and innovation has been working at the university since 2007.

See also

Opening remarks at meeting of Commission for Modernisation and Technological Development of Russia's Economy
July 27, 2010
Federal Law on the organisation of government and municipal services
July 27, 2010
Federal Law specifying the authority of federal executive bodies in the sphere of education and research and development
July 27, 2010
Federal Law On the National Research Centre Kurchatov Institute
July 27, 2010
Federal Law On Heating Supplies
July 27, 2010
Amendments to certain legislative acts following the enactment of the law on heating supplies
July 27, 2010

Topics

  • Economy and finance
  • Science and innovation

Publication status

Published in sections: News, Commissions and Councils

Publication date: July 27, 2010, 16:00

Direct link: en.kremlin.ru/d/8469

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Modernisation is impossible without fighting corruption and promoting fair competition

http://en.kremlin.ru/events/councils/8469

Last updated at March 20, 2015, 18:02

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