Putin said Tuesday (June 20) that Russia's share of the global technology products market amounts to between 0.3 percent and 0.8 percent, or 15 to 20 times smaller than China's share of the market.

He added that Russia's technology industry accounts for only 6 percent of the national economy. In the U.S., the European Union, Japan and China, the total amounts to about 60 percent, said Putin.

"Nevertheless, little is being done to overcome this technology gap," Putin warned.

The President called on Russian companies and semi-private organizations to use Russia's competitive advantages, particularly in space technology, aviation, energy and communications. He also called for leveraging Russia's expertise in materials sciences, physics, nuclear technology, chemistry and metallurgy.

"Russia is able to concentrate its efforts to solve the most complex technological problems," Putin was quoted as saying in reports. By boosting high-tech development, Russia could "radically and swiftly influence a change in the structure and the growth rate of the economy."

While no concrete programs were mentioned at the Security Council meeting, Putin indicated that he favored government-sponsored incentives to businesses to promote high technology.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved