Article Posted on : - May 11, 2011

MOSCOW (BNS): Russian President Dmitry Medvedev has said more efforts should be made to boost the flow of investment to the national defence industry.

At a meeting held on Tuesday, Medvedev told top government and industry officials that Russian defence industry has failed to fulfill major weapons contract and they should consider mechanisms to boost investments to the branch, according to media reports.

He reminded officials that contracts had been signed for 30 ballistic missiles, five Iskander short-range missile systems, 300 armoured vehicles, 30 helicopters, 28 fighter aircraft, three atomic submarines and a corvette class warship in November 2009.

He also urged the government to complete the placement of weapons orders by the end of May and to present a new programme for development of the defense industry.