Central regions | Technology & innovation | Finance, business

Russia sets up new agency to back non-commodity export economy

27 May '16
Prime Minister Medvedev yesterday signed a decree creating a new Agency for Technology Development that will support the increase in licensing agreements, technology joint ventures and technology transfers as well as specific projects that contribute to technology localization, the US-Russia Business Council reported. The ultimate goal of the project is to help boost the level of non-commodity exports in the economy.

According to a government note attached to the decree (in Russian), the Agency will “simplify the access of Russian companies to cutting-edge technological solutions” through “the transfer of advanced foreign technologies to Russia.”

The Prime Minister hopes that the Agency “will contribute to an increase in the competitiveness of our companies through their modernization and the growth of non-oil exports.” He noted that the Agency is expected to become self-funding after initially receiving budget support. The Russian Ministry of Industry and Trade had earlier requested $3m to begin the project.

Deputy Prime Minister Dvorkovich will serve as the Chairman of the Supervisory Board, which will also include representatives from the Minister for Open Government, the Delovaya Rossiya business-focused NGO, the Russian Export Center, and the Ministries of Economic Development, Industry and Trade, and Science and Education.
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Tags: Dmitry Medvedev (28) / Agency for Technology Development (0) /

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