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The President pointed out that the energy efficiency of the national economy and, above all, its energy sector are Russia’s strategic tasks in the coming years. Dmitry Medvedev stressed that the energy sector has great potential for innovation and, unlike other industries, significant financial resources for that. In this sector, various innovative projects are being implemented and new high-tech facilities are being built.

Russia is only beginning to address these critical issues, Mr Medvedev noted, so it needs to create incentives to develop such projects.

President Medvedev issued a number of instructions to the Government Cabinet. These include accelerated drafting of new technical regulations for oil refineries, considering the options for changing tax laws for mining companies, and appointing officials in charge of energy efficiency in all public sector entities.

At the meeting the President also said that the organisation charged with the creation of a new science and technology centre in Skolkovo will be headed by a representative of big Russian business, Viktor Vekselberg. Dmitry Medvedev instructed the Cabinet to develop proposals for a special legislative regime governing innovative activities at the centre.