A focus of the government in 2010 will be the modernisation of the Russian economy in 2010 | Practical Law

A focus of the government in 2010 will be the modernisation of the Russian economy in 2010 | Practical Law

This article is part of the PLC Global Finance January 2010 e-mail update for the Russian Federation.

A focus of the government in 2010 will be the modernisation of the Russian economy in 2010

by Practical Law
Published on 26 Jan 2010 • Russian Federation
This article is part of the PLC Global Finance January 2010 e-mail update for the Russian Federation.
Speedread

Speedread

On 30 December 2009 the Government approved the Main Directions of the Government Anti-Crisis Actions for 2010. The key measures in the plan are summarised here.
On 30 December 2009 the Government approved the Main Directions of the Government Anti-Crisis Actions for 2010. The document is available on the Government's website
  • In 2010 the Government plans to shift the emphasis from anti-crisis measures to measures aimed at increasing of industrial capacity, modernisation of the Russian economy and development of innovative technologies.
  • In particular, it provides for the following measures:
  • Supporting co-operation with foreign companies which focus on production of local high-technology equipment and creation of applied research and engineering centres in Russia.
  • Simplifying procedures for launching new investment projects.
  • Purchasing foreign technological assets required for the modernisation of key economic sectors.
  • Encouraging long-term foreign investments through creating joint investment funds in sectors requiring modernisation (such as, agriculture, pharmaceuticals, infrastructure, and so on).
  • Modernising the financial system with a view of creating an international financial centre in Russia.