"Analytical approach is a key component of economic planning. Ours should be an expert position and we should ready ourselves to stand up to new world economic challenges so as to make optimal use of Russian capacities," Fradkov said when addressing a Russian Chamber of Commerce and Industry session.
"The analysis of this year's first quarter have revealed that there will be quite a number of obstacles on our way toward industrial growth, as the president has indicated more than once," said Fradkov.
"It is after a thorough examination and conclusions made that we shall offer a sound account of what sources can add up to economic growth-it is clear, though, that these are internal sources above all," he continued. "The decision made should be thought out so that we might be masters of the situation." In the opinion of Fradkov, Russian economic competitiveness can be increased by the development of medium and small business and the employment of the scientific and technological potential available.
"Yesterday when President Vladimir Putin met with colleagues from the European Union, they offered their assessment, which matters a lot to us, saying that we are wasting our scientific and technological potential." More attention to science and technology are to facilitate the introduction of new technologies, economic growth and labor productivity with a resultant inflow of investment, according to Fradkov.
"We are to achieve a synergy of analysis and these targets in market conditions because small and medium business constitutes a major resource for hitting the targets of economic modernization," explained Fradkov. His vision of small and medium business is that of being a key element of Russia's better economic performance on the world market.
"Companies of the so-called second echelon , that is medium business, have been until recently out of government's dialogue with business. However, it is these companies that have begun setting the tune in our economy," continued Fradkov.
Medium businesses are responsible for some 60 percent of the output of the processing industry, said Fradkov. "If we want to relieve our economy of the impact of external factors, we should have a closer look at this problem, reveal and remedy all woes and develop medium and small business while keeping in touch with the Chamber of Commerce and Industry," said the premier.
Besides, the Russian government should assume a target-oriented method of economic development, he noted.
"The government reshuffle boils down to passing over to target-oriented trends based on priorities and working out a program of a target-oriented method in the work of the government." Mikhail Fradkov also urged using foreign experience in employment of internal resources for economic growth.
"The combination of better analytical work with information and the use of foreign experience will attract internal resources to the Russian economy...All resources available should be mobilized to consolidate the financial growth," he said.