Review of Innovation Policy in the Russian Federation 2011

June 30, 2011, 15:06 / Advisory / Jurisdiction: Russia , Source: OECD Info RU

Review of Innovation Policy in the Russian Federation 2011, prepared in partnership with the Russian Ministry of Education and Science, points out a high level of education in Russia and good development in several fields of science and technology, but also mentions low level of innovation activities in companies, weak competition, and inefficient infrastructure.

Recent Russian policy initiatives to modernize government institutions and economy stand for acknowledged need to abandon strategy of reliance on natural resources in favour of intensive methods. But current innovation policy is overly focused on high technologies, and thus leaves out much of the Russian economy, according to the review. Its authors recommend to shift innovation "centre of gravity" in Russia towards production companies, low-tech and services industries, as well as to complement local innovation system with foreign sources of knowledge.

This article has been prepared by specialists of ABLV Corporate Services based on mass media publications. Specialists of ABLV Corporate Services provide legal and tax advise, including advise on international tax planning, establishment of holdings, trade, investment, and protection structures, purchase of real estate and other assets, as well as advise on change of residence and acquirement of residence permits. More detailed information on services provided by ABLV Corporate Services can be found at http://www.ablv.com/ru/services/advisory

This information on products and services is provided for information only and may not be treated as a commercial offer. Assessing any services described herein, a conclusion by independent lawyer, tax specialist and/or auditor should be obtained.

ABLV Corporate Services does not guarantee completeness and accuracy of the provided information. The information and conclusions may be changed any time without notice. This information may not be reproduced, copied or passed to a third party without prior consent of ABLV Corporate Services. Products and services may be provided by partners of ABLV Corporate Services, that is not related to ABLV Corporate Services. Copyright to this material belongs to ABLV Corporate Services.