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Head of the working group and Tyumen Region Governor Vladimir Yakushev and Deputy Minister of Industry and Trade Vasily Osmakov updated the meeting participants on the preparation of a report that stipulates measures for enhancing the industrial potential of Russia’s regions.

The working group has analysed materials submitted by the regional authorities, experts and professional communities and has formulated proposals on the regional industrial policy.

The current state of industrial production cannot guarantee the required economic growth pace. In the 2000s, industrial production grew by 7–8 percent annually, and the manufacturing industry by over 10 percent, but the growth pace slackened to below 5 percent in 2012.

Industrial development is hampered by resource and financial constraints, which have been aggravated by the economic sanctions. Therefore, the potential of regional industrial development should be viewed as one of the main drivers of Russia’s sustainable economic growth. The focus must be shifted onto intensive growth and the mandatory improvement of the industrial products’ competitiveness.

Regional economic personnel issues must include the advanced training of engineers and workers.

The further development of the regional industrial potential provides for coordinating efforts at all levels of power. Regional interaction is another major aspect of developing a smart industrial policy.

The participants discussed the need for new approaches to enhancing the regional industrial potential with due regard for modern technological trends, the creation of technological competence centres and factories of the future, the development of interregional cooperation and the creation of interregional investment pockets.