Russia approves biotech and genetic engineering development roadmap

Russia approves biotech and genetic engineering development roadmapThe Russian Government has endorsed a 2013-2019 roadmap for the development of Russia?s biotechnologies and genetic engineering.

The Russian Government has endorsed a 2013-2019 roadmap for the development of Russia?s biotechnologies, including bioenergy, and genetic engineering. The most essential activities approved will have to be completed by the end of next year. For example, biotech product consumption is expected to increase in Russia from 2012?s $3.9bn to $5.5bn by 2015 and to as much as $9bn by 2018. Biotech product output is expected to grow from last year?s $790m to $1.5bn by 2015 and then to skyrocket by 2018 by nearly a factor of ten from the 2012 result to $9bn. Biotech product exports are projected to augment within the next five years by a hefty 50 times to $1.5bn from a fairly modest $30m last year. Russia?s regions are expected by 2015 to complete ten and by 2018 twenty major innovation projects aimed at creating alternative energy sources, including biofuels, a substantial jump from last year?s two. By 2018, the share of automobile biofuel and its components in Russia?s overall fuel production and consumption is expected to grow to 8%, up from zero today...