Friday, August 18, 2017

Poor innovative activity hindering Sverdlovsk Region's industrial development

The Sverdlovsk Region's industrial production index for the first seven months of 2011 has already exceeded the same period last year by 12 percent.

The volume of shipped industrial goods and services rendered was $24.7 billion. Additionally, 50 percent of the industrial turnover was in the metallurgical goods sector, Sverdlovsk Region Industry and Science Minister Vladislav Pinayev said, Ural Business Consulting reports.

Pinayev said that there has been a hindrance in the region's industrial development attributed to the inflexible economic structure where the primary sectors prevail, the share of the value-added goods is small, the companies' innovative activity is only moderate, the system for the commercialization and production launch of Russian scientific finds is missing, the technology behind, and the primary assets are terribly worn out in all the processing industry segments except for the metallurgical one, according to Ural Business Consulting.

Additionally, he sees the region suffering from a shortage of professionals and technical experts.

"The technical and the humanities majors ratio is currently 40/60, which is unacceptable for an industrially advanced region. This is why the Industry & Science Ministry and the Education Ministry are considering adopting a special program for training industrial workers who would meet the economy's actual needs," Pinayev said, Ural Business Consulting reports.