13 Mar, 11:47

Rostec allocates up to 8% of revenues for scientific-technological programs

The state corporation intends to continue maximizing its efforts on solving national security programs, Managing Director Yury Koptev added

MOSCOW, March 13. /TASS/. The Russian state corporation Rostec allocates up to 8% of its revenues for support of in-house scientific and research programs, Managing Director Yury Koptev told TASS.

"Revenues of the corporation totaled 1.1 trillion rubles ($12.8 bln). It totaled 2.8 trillion [rubles] ($32.5 bln) in 2023. We spend about 7-8% from these revenues for programs related to scientific and technological development," the senior executive said.

The state corporation intends to continue maximizing its efforts on solving national security programs, Koptev noted. Main tasks will correspond to areas of Russian technology development. The Rostec’s program provides for development of microelectronics and implementation of artificial intelligence elements, he added.

"We are living within the framework of the forecast by 2035 that is updated annually. The innovative development program represents a package of specific projects and activities stipulating research and development and process upgrade of manufacturing systems," the managing director added.

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