OREANDA-NEWS. Russian President, Vladimir Putin, on December 31st, 2014 signed a law "On industrial policy in the Russian Federation", developed by the Ministry of Industry, together with representatives of different business sectors. The federal law was accepted by the State Duma on December 16th, 2014 and it was approved by the Federation Council on December 25th, 2014.

As the Minister of Industry and Trade of Russia, Denis Manturov, said, the new law will form a single legal base, which is defining the rules, principles and mechanisms of the state stimulate of the development of Russian industry. The Law "On industrial policy in the Russian Federation" defines systemic vision of development of the industry for 20-30 years ahead. It strengthens the regulatory role of the state in the concentration of economic and administrative resources to solve the issues of industrial development.

The key innovations of the bill were the conclusions of the special investment contracts that guarantee investors a long-term constant business conditions; tax breaks and incentives for new complex investment projects; industry development funds for access of industry to long-term loans at competitive conditions; new principles of financing R & D in the industry.

The new law was awaited by representatives of the industrial enterprises of all sectors of the Russian economy, including the automotive industry. "For AvtoVAZ, as a representative of the domestic automobile industry, the adoption of the law is important extremely because it includes new mechanisms to support and development of the industry", - says the president of AvtoVAZ, Bo Andersson. - "Ministry of Industry and Trade took effective measures earlier to protect domestic automakers, in particular, the program to increase demand for Russian cars started to work. Synergy of existing measures and the new norms of the law will create additional conditions for improving the competitiveness of our products. This is especially true in the modern world. The appearance of clear and understandable rules that written in the law, guarantees invariance of conditions for the realization of investment projects that will be in demand by business".