17:14 GMT +3 hours27 November 2014
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State Duma adopts law on Russian nanotechnology corporation

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The corporation's functions will include interaction between government, business, and scientists on the implementation of state policy in nanotechnology and the nano-industry, and organizational and financial assistance to programs and selection of nanotech projects.
MOSCOW, July 4 (RIA Novosti) - The lower house of Russia's parliament Wednesday adopted a law on establishing a Russian nanotechnology corporation.

The corporation's functions will include interaction between government, business, and scientists on the implementation of state policy in nanotechnology and the nano-industry, and organizational and financial assistance to programs and selection of nanotech projects.

First Deputy Prime Minister Sergei Ivanov, who is in charge of high-technology development, said in June the government would allocate 200 billion rubles ($7.7 billion) to develop nanotechnology until 2015.

The government said earlier it has set up a state council for nanotechnology, to be chaired by Ivanov.

Russian President Vladimir Putin highlighted high-tech industries in his state of the nation address in April, saying nanotechnology research, which promises advances in medicine, space research, telecommunications, and weapons production, should receive priority funding.

"The government should provide the necessary funding to arrange this work in terms of technical equipment, staff and organizational support," Putin said.

The council on nanotechnology, a promising science that works with particles smaller than one micrometer and which has so far been mainly confined to the laboratory, will make assessments and recommendations on the development and practical implementation of scientific achievements in nanotechnology, promote the nano-industry and establish a market for nano-products and services.