Russian President Dmitry Medvedev told the modernization commission on Monday that state corporations must substantially increase investment in scientific research and development projects.
"Corporations should dramatically increase spending on research and innovation, and then the amount of ineffective expenditures will decrease," Medvedev said, who has set modernization of the Russian economy as a priority.
The president also called for inviting foreign experts who work in the so-called innovation lobby. "There they have strong support and an innovation lobby," said Medvedev who has been aggressively promoting a hi-tech research hub in Skolkovo dubbed Russia's Silicon Valley.
Presidential aide Arkady Dvorkovich earlier said about 60% of Russian state-run companies failed to draft relevant programs, which would increase spending on R&D, by the end of last year in line with Medvedev's instructions.
Dvorkovich said Russia will need 5-7 years to become a leader in space, medicine and other technology. He assessed the country's potential as "average."
ARZAMAS, January 31 (RIA Novosti)
