18 March 2009

Tasks of RUSNANO for the current year

Anatoly Chubais, Chairman of the Board of the Russian Nanotechnology Corporation, approved the main tasks of the Corporation for 2009 by his order.

In terms of investment policy, the task has been set to move from simply accepting applications for financing nanotechnology developments to actively searching for, and in the future, ordering new projects. The introduction of such an approach in investment policy is aimed at the implementation of cluster projects, the result of which should be the creation of final nanotechnology products interconnected by manufacturing technology or sequence in the technological chain. This will create conditions for obtaining a multiplicative effect in the development of the Russian nanoindustry.

One of the Corporation's priorities for 2009 is the formation of a pool of Russian and foreign investors interested in joining RUSNANO projects, as well as in acquiring a share of the Corporation after its exit from the project.

According to the approved document, several venture and seed funds should be formed this year with the participation of RUSNANO, including with the involvement of foreign capital. The task of the funds is to expand investment opportunities in Russian nanotechnology projects "at an early stage".

By the end of 2009, RUSNANO also plans to launch several new infrastructure projects designed to promote the involvement of small and medium-sized businesses in the innovation sphere.

The solution of a whole range of tasks to stimulate the introduction of nanotechnology developments in various areas of the economy requires improvement of the current Russian legislation. By the end of 2009, the Corporation's specialists will prepare proposals for amendments to existing regulations in the field of tax, corporate and patent legislation.

RUSNANO also intends to start forming a system for managing industry demand for nanotechnology products together with key industries, ranging from oil and gas and defense-industrial complexes, electric power, healthcare and pharmaceutical industries, construction and housing and communal services.

Today, one of the constraining factors for the widespread introduction of innovative products and technologies in the Russian economy is the current system of technical standards and regulations, as well as the principles of the organization of public procurement. RUSNANO plans to conduct their audit and optimization together with relevant ministries and departments, as well as state corporations and companies with state participation. As a pilot project, by the end of the year it is planned to develop a program to stimulate demand for a separate group of nanotechnology products. In addition, RUSNANO, together with one of the Russian regions, plans to launch a trial project on the organization of a new innovation-oriented public procurement system.

In parallel, RUSNANO intends to start solving the problem of stimulating the export of Russian nanoindustry products in 2009. In particular, it is planned to analyze the key barriers constraining exports and the infrastructure conditions necessary for its increase.

The transfer of temporarily free funds of RUSNANO in the amount of 85 billion rubles to the budget of the Russian Federation will not affect the fulfillment of the tasks of 2009. The funds remaining at the disposal of the Corporation are sufficient to fulfill this year's investment plans. At the same time, the Corporation does not plan early withdrawal of funds from deposits in commercial banks. It is assumed that their transfer to the budget of the Russian Federation will be carried out only after the expiration of the terms of placement. At the same time, in order to implement the RUSNANO Strategy approved by the state – to bring the sales volume of Russian nanoindustry products to 900 billion rubles by 2015 - the Corporation expects their return in 2010-2011.

In addition, RUSNANO has adopted a cost management system, which involves reducing the costs of the management staff of the Corporation. A number of expenditure items are subject to sequestration – from payroll funds and the cost of attracting contractors, to limits on the use of office mobile communications, travel expenses and the purchase of office supplies. The planned volume of cost reduction for the year should be about 200 million rubles.

Portal "Eternal youth" www.vechnayamolodost.ru according to the press service of RUSNANO

18.03.2009

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