Updating Russia's Long-Term Industrial Policy for the New Reality
Fundamental changes in the structure of foreign economic relations necessitate a radical overhaul of Russia's approach to industrial development. A considerable number of foreign manufacturers specializing in high-tech industrial equipment, software, automated control systems, technology suppliers, engineering, consulting, and service providers have withdrawn from the market. These entities were previously utilized by Russian industrial enterprises as part of the international division of labour. The long-term, sustainable growth of Russian industry can only be achieved through the domestic production of its own equipment, the advancement of applied science, and increased investment in research and development (R&D). The development of industry through domestic resources should be the primary focus of the country's development, and this requires active support from the government. What adjustments are needed in Russia's current long-term industrial policy? What challenges do Russian designers and manufacturers of equipment and technological solutions face? Which links in the technological chains require priority attention from the state? What should be done to revive the innovative potential of R&D organizations? How can the conditions for acquiring modern knowledge and promoting the professional development of engineering staff be improved?
