No Need for Industrial Policy Law- Putin

Russia has no need to develop a federal industrial policy law, President Vladimir Putin said on Wednesday.

“Industrial policy is an issue that has been discussed for 15 years. Instead of an industrial policy law, we need industry: how to organize our work to cause industry to develop actively. This is the most important and key issue,” Putin told the Federation Council, Russia’s upper house of parliament, in response to a question by senator Yury Shamkov.

Russia should consider the approach of some economists who believe that there can be no special industrial policy, but there must be economic policy as a whole which creates conditions for the development of its components, including industry, agriculture abd services, Putin said.


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