11 Jan 2010
On Thursday, 3 December 2009, London Business School‘s Eastern Europe/CIS club hosted a lecture by prominent Russian politician and business manager Anatoly Chubais. Mr Chubais spoke to students and faculty on "Innovative Technologies in Russia's Modern Economy".
As an influential member of the Yeltsin Administration, Mr Chubais was instrumental in the privatisation of Russia's economy in the 1990s. During his time in office, he held the post of Finance Minister for several terms as well as the post of Chief of Staff of the Presidential Executive Office. In 1997, he became First Deputy Prime Minister of the Russian Federation and Minister of Finance, and presided on the Security Council of the Russian Federation. During that year, Mr Chubais also awarded Euromoney Magazine’s 'Best Minister of Finance of the Year’ award.
Mr Chubais was also chairman of Russia's state electric power monopoly RAO Unified Energy System of Russia for 10 years. More recently, he was appointed by President Dmitry Medvedev as CEO of the Russian Corporation of Nanotechnologies (RUSNANO), a non-profit state owned corporation to facilitate interaction between government, business and the scientist community in the implementation of state policy for the nano-industry. .
During his lecture, Chubais spoke about the important relationship between the UK and Russia, but noted that the relationship had greater potential, which RUSNANO seeks to fulfil. Of the key areas of focus for RUSNANO, Chubais highlighted that investment in the production of hi-tech products, the transfer of high technologies and the establishment of an innovation economy in Russia, were of significant importance. He spoke about the Russian President’s Nanotech Industry Development Strategy investment objectives; the reduction of resource and energy-intensive domestic production and the enhancement of quality public medical services, and funding for these projects. Another area of focus was the potential for the creation of new jobs in Russia’s Hi-Tech industry.
Chubais concluded by affirming RUSNANOs commitment to nanotech industry growth and its desire to collaborate with British corporations.
The lecture was attended by Professor Sir Andrew Likierman, Dean, and other faculty members, representatives of the British and Russian Embassies in London, representatives of investment banks and hedge funds who have close ties with the region, and members of the Global Advisory Council.