Russia sets goals for industrial development until 2020

Russian Prime Minister Dmitry Medvedev on Friday signed a state program envisaging development of the country's industrial capabilities until 2020. According to Medvedev's order, the government should focus on creating competitive, structurally balanced industries capable for self-development and integration into the global economy. The program also envisages rendering Russian economy innovative and able to contribute to the country's defense needs, according to the government's website. The 3,514-billion-ruble (about 113-billion-U.S. dollar) program defines 17 sectors as priorities for the economy development, such as car industry, agricultural machinery, military-industrial complex, transportation, chemistry, consumer goods production. The government also plans to create or modernize 25 million jobs, increase investment to the level of up to 27 percent of the GDP and boost labor productivity by 1.5 times. Russia aims to climb in the World Bank's Doing Business ranking from the current 120th position to the 20th, the program said. On Thursday, President Vladimir Putin called the cabinet's work satisfactory and urged the government to fulfill its election promises.