The Russian Federation President signed a law on industrial policy in the Russian Federation
The President of the Russian Federation signed a law on industrial policy. The law determines goals, tasks and principles of the industrial policy, circle of participants of it formation and implementation, and regulates powers of the RF Government, federal executive authorities, state authorities of the Russian Federation and local authorities in the field of industrial policy. It also features industrial policy in military-industrial complex. Industrial activity is planned to be promoted by providing its subjects with financial and consulting assistance. In particular, financial assistance of the subjects is provided in the field of industry by means of state funds. It’s also planned to grant state preferences and other means of support to develop science and technical and innovation activity in industrial field. Besides that the law regulates features of special investment contract, according to which investor shall create or improve and master industrial goods production, and the Russian Federation or its Subject shall implement measures of promoting industrial field activities. During such contract term investor is granted aggregate tax burden, regime and absolute requirement stability. State information industrial system is to be created to automate processes of collection and proceeding the information necessary to ensure industrial policy implementation, to increase efficiency of information exchange on industry status and projected growth.