ELECTRONICS DEVELOPS FASTER THAN OTHER RUSSIAN SECTORS, ELECTRONICS COMPANY MANAGER

MOSCOW, MARCH 5. /RIA NOVOSTI / -- The Russian electronics industry has lived through hard times and is now showing a sustainable development. In the last four years its volume of production has nearly doubled, Valeri Dshkhunyan, general director of the Russian Electronics holding, has said. This rate of growth outpaces many other Russian industrial sectors, he said to RIA Novosti.

Set up in 1999, the holding is made up of 32 enterprises of the electronics industry. Hundred percent of the company's shares are state-held.

According to the general director, the growth has been reached "at actually zero investments".

However, for its further development the Russian electronics industry is in need of state support, the holding's manager said. Such support can be in the form of direct financing or through federal target programmes, he believes.

The company is also on the lookout for other ways of attracting investments to the sector. Thus, the possibility of attracting 37 million dollars this year through the sale of shares of the holding's largest three enterprises is being considered. American and Czech investors have already shown interest, said the manager of the Russian Electronics holding.