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22 November, Friday

Ufa   °

Bashkir scientists commented on Putin’s statement about digital economy

Economy/Business

UFA, 21 June 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

Bashkir scholars have commented on the statement of Russian President Vladimir Putin about the digital economy. “But we also received something. What exactly? First, we had to change our thinking (and we did this) to understand what we needed to do in the high-tech economic sectors and how. Our so-called import substitution programs are worth 667 billion rubles. This compelled us to develop even those areas where we lacked competence before,” said Putin during the Direct Line.

According to the director of the Institute for Strategic Studies RB, Doctor of Economic Sciences Azat Yangirov, the scientists of the Institute investigated the development of fast-growing companies in a five-year retrospective. An analysis of these studies shows that most of these companies rose precisely after 2014. The growth was marked in the production of oil and gas equipment, oilfield services. Previously, these high-tech areas were occupied by Western companies.

“Since 2014, 150 companies of the republic annually increased revenues and turnover by at least 10 percent. The total cumulative turnover of these companies is comparable with the budget of the republic — 150 billion, and the number of employees reaches 40 thousand people — about the same employees work at Bashneft. Moreover, the market of the companies is federal and the CIS countries, that is, they were able to occupy this empty niche quickly, ”notes the head of the Institute for Strategic Studies RB.

In the last three years, fast-growing companies accounted for 43% of the GRP growth, while their aggregate average annual revenue growth rate for these three years was 32.5%. For comparison, at the same time, JSOC Bashneft grew at a rate of 12%, Top-100 companies in Bashkiria — at a rate of 16%.

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