ANNOUNCEMENT 08 Dec 2011In December 2011, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
6 2013 . 188
As a part of the introduced first on 8 December 2011 Innovation Development Strategy 2020 of the Russian Federation that has the goal to attract foreign direct investments (FDI) in the country, to enhance theexport of innovative goods and to integrate the Russian clusters in the global hi-tech market, the Russian Government has distributed subsidies to selected towns, regions and republics.
On March 6, 2013, the Russian Government (according to Decree 188) approved the provision of a subsidy to 13 subjects of the Russian Federation (Moscow, Saint Petersburg, Republic of Tatarstan, Republic of Mordovia, and 9 regions). Apart from re-confirming as a goal the attraction of FDI, the Ministry of Economic Development of the Russian Federation has additionally clarified that preference will be given to clusters, the companies in which have an annual turnover of more than RUB 1 million. In addition, it is highly desirable in the innovative cluster toparticipate a scientific organisation or a higher education institution.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.