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Abstract:
RUSNANO CEO Anatoly Chubais took part in the International conference "Russia and Global World: New Decade Challenges". He delivered a speech on building an innovation economy in Russia.

RUSNANO CEO on Building an Innovation Economy in Russia

Russia | Posted on January 25th, 2010

On January 21-23, 2010, Institute for Economy in Transition, Academy of National Economy under the Government of the Russian Federation and the Expert Council under the Government Committee on improvement the sustainability of Russian economy held an International Conference "Russia and Global World: New Decade Challenges". The Conference was dedicated to the memory of Yegor Gaidar.

The Conference was held in the form of a series of panel discussions and expert "round tables", the participants of which were able to present and discuss their understanding of the key trends and challenges of the country development.

Anatoly Chubais opened the plenary discussion which was held on the final day of the conference. He delivered a speech, devoted to building an innovation economy in Russia. The resume of his speech is as follows:

1. Innovative development is a challenge that has not been taken by either the Soviet or the Russian economy.

2. The historical reserve of time for establishing an innovation economy in Russia is dwindling away; isolation from the leaders may become irreversible.

3. In today's Russia, notwithstanding acute socio-political problems, neither the economic nor the socio-political mechanisms block the start of building an innovation economy.

4. An innovation economy in Russia can be built entirely on fundamental market institutes with simultaneous reconsideration of the role of government.

5. The building of an innovation economy in Russia is a tremendously complex socio-economic reform, requiring long-term political will and powerful intellectual support. But it can be carried out in foreseeable period of 10-20 years.

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About RUSNANO
The Russian Corporation of Nanotechnologies (RUSNANO) was established in 2007 by the Federal law ą 139-FZ to enable Government policy in the field of Nanotechnology.

To accomplish this task, RUSNANO co-invests in nanotechnology industry projects that have high commercial potential or social benefit. Early-stage investment by RUSNANO lowers the risk of its investment partners from the private sector.

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