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Finnish Innovation Fund “SITRA” FORUM FOR DEVELOPMENT OF ECONOMIC PARTNERSHIP BETWEEN FINLAND REPUBLIC AND RUSSIAN FED

Finnish Innovation Fund “SITRA” FORUM FOR DEVELOPMENT OF ECONOMIC PARTNERSHIP BETWEEN FINLAND REPUBLIC AND RUSSIAN FEDERATION PROSPECTS OF RUSSIAN ECONOMIC DEVELOPMENT Novem ber 1 5th 2007, Helsinki Elvira NABIULLINA Minister for Economic Development and Trade of the Russian Federation .

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Finnish Innovation Fund “SITRA” FORUM FOR DEVELOPMENT OF ECONOMIC PARTNERSHIP BETWEEN FINLAND REPUBLIC AND RUSSIAN FED

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  1. Finnish Innovation Fund “SITRA” FORUM FOR DEVELOPMENT OF ECONOMIC PARTNERSHIP BETWEEN FINLAND REPUBLIC AND RUSSIAN FEDERATION PROSPECTS OF RUSSIAN ECONOMIC DEVELOPMENT November 15th 2007, Helsinki Elvira NABIULLINA Minister for Economic Development and Trade of the Russian Federation 

  2. 2001-2005 2006-2010 6,1 6,3 GDP 9,9 12 Fixed capital Investment Average annual growth (%) (forecast)

  3. Russian macroeconomic trends in 2007Key macroeconomic indicators

  4. Russian macroeconomic situation is stableKey macroeconomic indicators (%) *MEDT estimations

  5. Strategic directions of long-term conception of social and economic development of Russia guaranteeing the use of Russian global competition advantages in energy, transport and agriculture creating strong scientific and technical complex structural diversification of economy development of democracy and guaranteeing of personal rights and freedoms, creation of economic and social conditions for realization of personal creative potential

  6. Investment (bln USD)

  7. General Data on SME in Russian Federation • Total quantity of SME – 1635.5 (increase by 15% as compared with the year of 2006) or about 50% of total number of enterprises in Russia; • Number of employees – 10,355.4 thousand (800 thousand more than in 2006) or 25% of all employed in Russia; • Investments in the fixed capital totaled 42.2 billion rubles (35% more than in the year of 2006); • Contribution of SME to GDP totals 15-17%.

  8. Main directions of state support of SME • Financial support, assistance in receiving loans and credits • Providing federal and municipal facilities lease on preferential terms • Government procurement • Information and consultanting support • Creation of business incubators and technoparks

  9. Financial institutes of development Created: • Investment fund • State corporation “Bank of Development and External Economic Activities (Vnesheconombank)” • «Russian Venture Company» • «Agency of Mortgage Crediting» In the process of creation: • «Russian Investment Fundof ICT» • «Russian Nanotechnologies Corporation» • «Fund for Support of Housing and Communal Service Reform» Institutes of development In the Russian Federation

  10. Institutes of developmentNon-financial institutes of development • special economic zones (techno-promotional, industrial-manufacturing, tourist-recreational, port) • technoparks, industrial zones, «business incubators» • centers for technology transfer, subcontracting, design, energy saving

  11. Thank you for your attention! Elvira NABIULLINA Minister for Economic Development and Trade of the Russian Federation

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