Page 57 - bne IntelliNews monthly country report Russia February 2024

The National Innovation System team is headed by German Gref, as well as the co-founder of IBS IT Services, Sergey Matsotsky and Alexander Galitsky, founder of Almaz Capital Partners, a Russian investment fund.
The New High-Tech Economy project is to be headed by Boris Kovalchuk, the CEO of state-owned power company Inter RAO and the son of Yuri Kovalchuk, co-owner of Rossiya Bank.
The “New Social Contract”, which envisages the introduction of a universal family allowance – not for everyone, but only for the “needy”, who will have to be identified according to the “know your client” principle. Direct payments and provision of food for the poor should become the components of the new social contract. The materials do not say anything about aid to other categories of citizens in the context of the new social contract.
Clarifying objectives stated:
Law enforcement and the judicial system are to be reformed as part of the effort to improve confidence and the business climate. It is clear that investors are very often reluctant to invest and take a defensive position to protect existing businesses rather than taking expansionist positions to grow their businesses. This attitude acts as a brake on growth and once a business gets to the size where it is providing the owner a good living it stops growing.
Another goal in the new look national projects program is to reduce the state’s share in the economy and at the same time to use the potential of state-owned companies to "accelerate digital development” to make Russia welcoming for start-ups from all over the Former Soviet Union (FSU).
The "National Innovation System" is the development of IT and innovations, a favorite topic of PM Mishustin, and involves creating a favorable business environment for tech development and innovation. The plan documents talk about the "model of Korean chaebols."
Addressing problems. The new plan also aims to address some of the problems with the existing program. The head of the Audit Chamber Alexey Kudrin has been an outspoken critic and is constantly complaining they are going too slowly. According to Kudrin’s latest estimates for November 2020, only 70% of the planned spending on the program has been fulfilled. The most problematic areas were with:
labour productivity (65%)
57 RUSSIA Country Report February 2024 www.intellinews.com