Importance Currently, considering the national security priorities, there is a vital need to shift from the export- and raw material-based model to a new model of socio-economic development, i.e. neo-industrial modernization reinvigorating innovative potential through investment. Objectives The research substatiates the need in neo-industrial modernization in Russia. Methods I apply such general scientific methods and techniques as scientific abstraction, induction, deduction, horizontal comparative analysis, expert assessment. Results The article substantiates the basic reasons indicating the need in the neo-industrial modernization in Russia. I reviewed the key concepts of neo-industrial modernization of the Russian economy that imply high-technological retrofitting of the entire economic system. Conclusions and Relevance I conclude that neo-industrial modernization is feasible only when the State is immediately and actively involved in it, including the preparation of State neo-industrialization programs and their finance. The research displays that it is crucial to achieve strategic goals of neo-industrialial modernization. Neo-industrial modernization will create modern industries based on innovative and science-intensive technologies and increase the national competitiveness.
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