OREANDA-NEWS. July 14, 2008. Mr Medvedev approved the Government proposals on reorganising a number of federal state unitary enterprises as open joint-stock companies, shares in which are 100-percent in state hands and will be transferred by Russian Federation as assets to the Rostechnologia State Corporation. The State Corporation will also receive the shares of a number of open joint-stock companies under federal ownership.

The decree’s provisions stipulate that the Rostechnologia State Corporation is responsible for organising and carrying out the state arms programme, state defence procurement programme and mobilisation plan, federal targeted programmes and military-technical cooperation programmes. The State Corporation also has the important task of maintaining and developing scientific and production potential and attracting investment into high-technology sectors of the economy. 

The State Corporation’s tasks include restructuring the enterprises and organisations in the defence sector and other economic sectors, the shares of which are transferred to the organisation as part of the state’s contribution to its assets. 

The decree contains annexes setting out a list of 420 enterprises the shares of which are being transferred to the state corporation.