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« Back to articles from category "Business Management"

The following article was published in our article directory on September 7, 2010.
Learn more about SpinDistribute Article Distribution System.

Russia's New Economic Model for Get Rid of Dependence on Energy Exports

Article Category: Business Management

Author Name: xia zihui

Following the "Russian version of Silicon Valley" was founded shortly after the announcement, Russia introduced a much larger program of economic modernization innovation. Under the plan, Russia will spend the next three years 800 000 000 000 rubles (1 U.S. dollar equals 30 rubles), the implementation of 38 innovative projects of modernization. Analysts believe that this marks the start Russia's economic modernization process.

Project involves five major areas

These projects cover energy, nuclear technology, aerospace, medical and five strategic areas of information technology. In addition to the federal budget funding sources, including bank loans, corporate financing and investment development agency.

Which is the most expensive energy supply system modernization project, the content is the nation's public and private water supply system for large-scale transformation of electrical, installation of advanced energy efficiency and metering equipment. Experts predict that this measure will achieve the goal of saving more than 25%. The project investment of the next three years more than 400 billion rubles, accounting for more than half of the total project investment.

Investment in the second row is a nationwide project to promote energy-saving lamps, expected investment amounts to 124.8 billion rubles, followed by 69.5 billion rubles for the investment community of the Electronic Service Delivery projects. Other investment projects related to e-government, super computer systems, Internet distance education, digital television, the development of new drugs and medical equipment, GLONASS satellite navigation system.

Russian presidential aide Arkady Devorko Draskovic said that the specific investment projects not yet been finalized, but even a change in the scale of investment, all projects must be implemented.

Economic transformation is imminent

Russia to launch such a large scale modernization of investment projects, due to the urgent needs of economic restructuring. Russia's economy has long been too dependent on energy and raw materials industries, oil and gas export revenues account for half of Russia's financial income, which led to Russia's economy is subject to severe external economic environment. Second half of 2008 Russian financial crisis broke out resource-based economic model of the shortcomings exposed. 2009 Russian GDP fell nearly 8 percent, ranked in the bottom of BRIC.

May 2009, Russian President Dmitry Medvedev announced the formation of he personally responsible for Russia's economic modernization and technical development committee, will be energy, nuclear technology, space communication (600 677), biomedical and information technology strategies established as Development of the Russian innovation-based economy the five pillar industries.
In March of this year, Russian Prime Minister Vladimir Putin said 2010, the government will spend 1.1 trillion rubles, for basic science, applied research and development of higher education and implementation of innovative projects.

Medvedev also announced a small town in the Moscow suburb of a modern high-tech and industrial center of innovation and economic policy as a test base to promote the modernization process of the five priority areas. Stationed in the center of the innovative enterprises can enjoy tax incentives, including exemption from profit tax within ten years, property tax and land tax, social security charges paid half the standard lower than the national standards for such. Russian media called the center of Russia's "Silicon Valley", and laments such incentives "unprecedented."

To further promote economic restructuring, the Russian government also plans to take a series of measures to promote innovation and economic development, including increased government building on Jichusheshi input Zengjia SAR on the economy, and technological parks Gongyeyuanqu financial; by Shuishoushouduan Ji Li innovation Chanye to encourage capital inflows and other non-energy production.

Specific measures to be put into question

From the resource-based economy to an innovative economic change has become the Russian government and economic circles of consensus, but for specific projects and measures, there are some questioning voice.

Russia's National Innovation and Information Technology Association, Olga Wusikewa that the innovation project's main problem is not how much investment, but rather these items unrelated. She said that without a unified subjectivity projects inconsistent with the efforts of the direction, it will not pull modern wagon.

Russian consulting company FBK audit partner Igor Nikolayev believes that modernization is not about how much state money but the construction of the economic environment. He stressed that, in order to promote modernization, we must reform the existing system. Only in a healthy, competitive economic environment, the rapid development of new economic order. In order to create such an atmosphere, it is more important for Russia not to bring in foreign scientists or De build a new building, establish a reliable system of intellectual property protection, and research results to scientists with huge income.

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