Russian PM Looks for Innovative Ideas in Finland
Russian Prime Minister Mikhail Fradkov and Economic Development Minister German Gref examined Finland's experience in innovation development.
Apr 20, 2006
Russian Prime Minister Mikhail Fradkov and Economic Development Minister German Gref examined Finland’s experience in innovation development yesterday. The premier came to the Scandinavian country to open the Russian Economy Days in Finland forum and visited a technology center in Oulu. While Russia is drawing on its neighbor’s experience, Finland is still indecisive if it needs more fuel from Russia.
Economic Development and Trade Minister German Gref announced a decision to set up $500 million venture innovation fund yesterday. He also promised that innovations will be supported from state coffers and by the creation of special economic zones.
Prime Minister Mikhail Fradkov examined the Finnish type of innovation development at a technology center of the Tehnopolis company in the town of Oulu. Pertti Huuskonen, the company’s director general, suggested building a technology center in St. Petersburg. The city’s governor Valentina Matvienko supports the idea as she promised to cut a revenue tax for the center by 20 percent. The contract, however, was not signed yesterday. Economic Development Minister German Gref reported that some details are to be specified.
Finnish Prime Minister Matti Vanhanen noted that his country is not interested in joining the North European Gas Pipeline and can get by with current fuel supplies. Russian Prime Minister Mikhail Frankov made it a point that the bilateral trade should be preferably based on innovation products. To date, oil and oil products account for 46 percent of Russia’s export to Finland, timber come to 9.8 percent and the share of gas supplies totals 9.4 percent. In contrast, Finnish imports in Russia are mainly hi-tech.
Economic Development and Trade Minister German Gref announced a decision to set up $500 million venture innovation fund yesterday. He also promised that innovations will be supported from state coffers and by the creation of special economic zones.
Prime Minister Mikhail Fradkov examined the Finnish type of innovation development at a technology center of the Tehnopolis company in the town of Oulu. Pertti Huuskonen, the company’s director general, suggested building a technology center in St. Petersburg. The city’s governor Valentina Matvienko supports the idea as she promised to cut a revenue tax for the center by 20 percent. The contract, however, was not signed yesterday. Economic Development Minister German Gref reported that some details are to be specified.
Finnish Prime Minister Matti Vanhanen noted that his country is not interested in joining the North European Gas Pipeline and can get by with current fuel supplies. Russian Prime Minister Mikhail Frankov made it a point that the bilateral trade should be preferably based on innovation products. To date, oil and oil products account for 46 percent of Russia’s export to Finland, timber come to 9.8 percent and the share of gas supplies totals 9.4 percent. In contrast, Finnish imports in Russia are mainly hi-tech.