Mr Ivanov said when opening the meeting that work on participating databases and radio electronics should be hastened. "The federal targeted programme we are considering," he said, "is in fact the main element of the Development Strategy of the Electronics Industry until 2025. The future of one of the most promising spheres of development of the Russian economy depends on how we begin."

According to Mr Ivanov, "we should analyse our efforts to take balanced decisions, which should help us stimulate our efforts in the sphere of participating databases and radio electronics."

"We have the requisite research-technical achievements to make a good start; now we must use it in our best interests," he said.

The Deputy Prime Minister said procrastination in that sphere would have a negative effect on Russia's competitiveness. "Our delay in holding 100 R&D competitions has prevented us from signing contracts for projects worth 1,355 million roubles," he said.

The Commission also discussed the operation of the Russian Venture Company (RVC). Mr Ivanov said that two years following its establishment was "a sufficient time for organising its operation and attaining positive results."

He said the RVC was a "state fund of funds," which should select asset management companies at tenders "to facilitate the improvement of public-private partnership in the field of high technologies."

"This is very important now in view of the global financial crisis and volatile hydrocarbons prices, which is forcing us to focus on science-intensive production and to diversify the economy," he said.