OREANDA-NEWS. November 29, 2010. Dmitry Medvedev held a meeting of the Commission for Economic Modernisation and Technological Development on legal regulation of innovation activity in Russia.

The President noted in his opening remarks that the existing laws make it difficult for businesses, whether large or small, to rapidly introduce new technology. This ultimately has a negative effect on the investment climate and on business interest in innovative development.

Although some businesses are introducing new technology and modernising their equipment, the organisational and technical state of affairs in sectors in need of modernisation still falls far short of today’s demands.

Fundamental institutional changes are therefore the paramount task today, but they can be achieved only by creating the right incentives, above legislative incentives, the President said.

Mr Medvedev outlined a number of problems affecting the current body of laws. Clarification is needed in particular for the laws regulating state procurement, currency regulation and currency control, technical regulations, and also migration laws. Customs control and administration procedures for supplies, including experimental and laboratory samples, also need to be simplified.