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Vladimir Putin signed Federal Law on Industrial Policy in the Russian Federation.
The federal law sets out the objectives, tasks and principles of the industrial policy, and determines the individuals responsible for forming and implementing it. The law also describes the powers of the Government, federal executive agencies, state bodies of the constituent entities of the Russian Federation and local government bodies in the area of industrial policy.
The law regulates, in particular, the details of a special investment contract whereby an investor undertakes to set up, modernise or launch industrial production, and the Russian Federation undertakes to implement measures to stimulate activity in industry. The law also envisions creation of the state information system for industry, and outlines the specifics of the industrial policy in the defence industrial complex.
December 31, 2014