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The fourth industrial revolution is shaping new markets which will define the course of global development for the next 10–20 years. It requires new approaches to government regulation in order to ensure favourable conditions for the IT business. To catch up with other countries, Russia needs a special policy on the digital economy.
In the next few years, the sectors below are expected to demonstrate rapid progress:
High-tech markets require sound management, including government regulation:
One of the key challenges in controlling new markets is that new technologies change faster than regulatory frameworks.
Although Russia’s IT market is rapidly growing both in terms of domestic developments and exports, the share of the digital economy in the GDP still stands at a measly 2.8% (compared to 5.5% on average in the developed countries).
Its development is limited by the following factors:
To offset their negative influence and enable Russia to bridge the gap in IT, further steps are being taken:
The digital economy programme is being developed:
The National Technology Initiative (NTI):
The industry can also be stimulated by creation of state venture capital funds: