Russian President Dmitry Medvedev last week conducted the first session of Russia’s Commission for Modernisation and Technological Development of the Economy at the office of the renowned anti-virus software developer Kaspersky Lab in Moscow.

“The commission will be run with the participation of government, citizens, specialist associations and, I hope, the Russian business community,” Mr. Medvedev said. The President pointed to five priority areas under the commission’s remit “where signs of competitive ability are very much alive,” and which, in his opinion, must be developed to achieve valuable technological breakthroughs. Alongside advances in energy efficiency, nuclear technology, space and communications technology, and medical technology, he emphasised the strategic role information technology has to play, particularly software development and computer production. The IT services outsourcing industry, worth nearly $2.5bn in 2008, is today one of the fastest-growing sectors of the Russian IT market, and is likely to benefit from this government initiative and contribute to its success.

Russia possesses the fourth-highest number of internet users, behind Germany, Great Britain and France, according to data from the American company Comscore. In April this year, 31.3 million Russians over the age of 15 visited the World Wide Web. For time spent online, however, Russian users are further down the list, spending an average of 30 minutes a day surfing the net, less than half as much as British users. Internet penetration in Russia is expected to grow by 12-15% in 2009 as broadband access is widened across the country.

Foreign investment in St. Petersburg’s regional economy in the first quarter of 2009 reached $538 million, a threefold leap against the same period last year, according to data released by the regional administration’s press service. The region is proving especially popular with companies from the United States, which have invested approximately $400 million, or 74% of the total. A further $48 million has come from Finland, $34 million from Austria, and $25 million from the Netherlands. Analysts suggest that the rise mirrors completion of investment projects having being started 2-3 years earlier and expect a slight slowdown for the next two years. “Foreign investors still express their interest in Russian economy,” says Marina Chernobrovkina, CEO of American Chamber of Commerce in St-Petersburg, “and now they are watching the anti-crisis actions and investors supporting programs being implemented by the Federal government”. (By the materials of www.kommersant.ru)