Putin: Russia Should Revive Domestic Software And Electronics Market

Software development and electronic equipment production are sectors where the domestic market can return to national producers, Vladimir Putin stated last week at the St. Petersburg International Economic Forum.

In the technological renewal of Russia, it is essential to carry out “the largest-scale technological refitting of our enterprises in the last half-century,” the president said.

One of the ways of technological refitting mentioned by the president is the replacement of imported products: “a substantial reduction of imports in many positions.”

A bit of nationalism

Among the sectors capable of “returning the domestic market to national producers,” Putin named software development and electronic equipment production.

“Through industrial modernization, construction of new enterprises and localization of competitive production in Russia, we can – and I especially emphasize we can do it without violating the norms of international trade or introducing any limits or barriers – substantially reduce imports in many positions and return our market to national producers.

“This includes the production of software, electronic equipment, power equipment, the textile industry and, of course, the market for foodstuffs,” the president said.

Clarifying plans to replace imports in industry and agriculture, Putin said that “Russian producers” also means enterprises with foreign involvement or 100 percent foreign capital but operating in Russia and subject to Russian law.

The president promised to develop a packet of measures to support domestic enterprises able to produce a competitive product.

This story originally appeared on East-West Digital News.

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