The head of the PSB proposed to create the Volga Innovation Belt

It is advisable to create the Volga Region Innovation Belt in Russia, which will unite the infrastructure of enterprises involved in the development and implementation of critical and end-to-end technologies, said Peter Fradkov, Chairman of the PSB.

"In Russia, most of the regions where innovation performance is 2-3 times higher than the national average are concentrated in the Volga region. It has all the necessary scientific, industrial and technological base for the development of innovations," Fradkov said, speaking at the plenary session of the Cheboksary Economic Forum.

He stressed that the creation of the Volga Region Innovation Belt will allow accelerating technology development on the existing basis, attracting additional human and financial resources. Ultimately, it will contribute to increasing the technological sovereignty of the country. "There are quite a lot of successful examples of creating large regional innovation centers in the world," Fradkov added.

Within the framework of the forum, of which PSB is the general partner, the bank organized a business breakfast "Chuvashia. The investment map: from startups to heavy industry." They discussed mechanisms to support the innovative activities of enterprises, as well as increasing the investment attractiveness of Russian regions.

Speaking at a business breakfast, Fradkov noted that the Russian economy needs to focus on innovation, which requires research and development. "R&D funding is already progressing at a good pace — over the past few years, the volume of support for this area has more than doubled. Therefore, the main task now is comprehensive support for the introduction of new technologies into production processes. This will make it possible to make a big leap in the innovative development of the country," said the head of the PSB.