ANNOUNCEMENT 18 Jul 2013In July 2013, the government of the Russian Federation announced a change in private-sector financial support.
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As a part of the state policy towards modernisation and raising the competitiveness of the Russian economy, the Russian Government approved on 18 July 2013 a road map for the development of the biotechnology and genetic engineering industry. The policy seeks to decrease import dependence, as well the creation of internal demand for products and services of this sector. Among others, the strategic goals of the road map include:
The road map mentions explicitly support to local firms through subsidies. The Russian government allocates RUB 1.18 trillion to the development of bio-technologies under 'The Comprehensive Program for Development of Biotechnology in the Russian Federation through 2020' (see related GTA measure 5411 below).