The Ministry of Economic Development has launched a bill which would regulate the procedure for creating legally significant electronic duplicates of paper documents. This will allow businesses to save billions of roubles, the ministry believes.

The Ministry presented the legislative initiative as part of the national programme "Digital Economy of the Russian Federation" and the National Economy Recovery Plan.

The bill is focused on the possibility of converting documents into a digital format of a legally significant duplicate. It is also aimed at creating mandatory norms for the long-term storage of documents in electronic form, according to the website of the Ministry of Economic Development.

Adoption of the document will allow all areas of activity to increase the efficiency of their employees working with documents by 5 times and speed up business processes by transferring paper documents to electronic ones with full legal validity of the original.

"The adoption of the bill will allow companies to significantly reduce the cost of physical storage of documents on paper. We are talking about billions of rubles annually," said Minister of Economic Development Maxim Reshetnikov. He added that authorities and businesses are ready for practical implementation of electronic document management.

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Author: Arina Soldatova