OREANDA-NEWS. December 23, 2011. In the course of the Tenth Congress of the All-Russian Nongovernmental Organization Delovaya Rossiya, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vneshweconombank)’, the Russian Economic Development Ministry, the All-Russian Nongovernmental Organization Delovaya Rossiya and the Autonomous Nonprofit Organization “The Agency for Strategic Initiatives on Promoting New Projects entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Economic Development Ministry – by Elvira Nabiullina, on behalf of Delovaya Rossiya – by its President Alexandr Galushka and on behalf of the Agency – by its Director General Andrei Nikitin.

The Agreement aims to coordinate and support large-scale territorial-industrial clusters and other investment projects in non-raw materials sectors of the national economy.

The Document identifies the following main lines of activity: working out mechanisms and principles for implementing a strategy of Russia’s new industrialization including working out criteria and a procedure for examining and selecting projects, preparing proposals for amounts and forms of financing projects as well as sources of their financing, approaches, principles and a management system to assist in implementing selected projects.

As part of implementing the Agreement the Parties intend to work out proposals for setting up an Industrial Development Administration.

Measures to be taken by the Parties under the Agreement would make it possible to move to a new stage of the Russian economic development, improve the government policy aimed at encouraging economic development by way of introducing a management system based on advanced project principles, improve the country’s business climate, create favorable conditions for raising investments and for developing free and competitive market.

There are plans to set up a working group with the participation of the parties’ responsible representatives as well as to engage other interested agencies and organizations.