Russia must cut excessive tax burden and red tape if it is to become a major player in nanotechnology, according to President Dmitry Medvedev, speaking at the annual RusNanoTech Forum.
Medvedev has made technological modernization one of the themes of his presidency – and nanotechnology a specific focus.
“We must raise our share to three per cent of the world market by 2015,” said Medvedev. He emphasized that in order to succeed internationally, Russia needs to create an internal demand for nanotechnology. The president also said that local centers will be set up all over the country that will offer practical innovation ideas to small and medium-sized businesses.
Nanotechnology is the manipulation of tiny particles that has a wide range of practical applications, from computer circuits, to pharmaceuticals and textiles.
In 2007, a state corporation was set up to promote the development of nanotechnology in Russia. However, despite investing over US$10 billion, Russia still produces less than one per cent of all the nanotechnological devices in the world.
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