Rosnano, REC, EXIAR, MSP Corporation, Skolkovo, IDF to be transferred to VEB for management

MOSCOW. Nov 23 (Interfax) - The reform of development institutions, announced on Monday by Prime Minister Mikhail Mishustin will significantly expand the scope of VEB's authority.

"On the instructions of the president, the government will optimize development institutions so that they can fully work to achieve national development goals, which are defined by presidential decree. We have analyzed the operations of the main existing development institutions and as of today there are 40 of them, all of them were created to address specific issues - to support innovation, small and medium entrepreneurship, exports, regional development, housing construction, industry. They were required to take specific actions, which at one time produced significant results. But in recent years, new challenges have emerged that require a significant adjustment of their work and future plans," Mishustin said at a meeting with deputy prime ministers.

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