Small and medium business is set to see its share of import substitution increase

Russia’s Prime Minister Dmitry Medvedev has instructed the Ministry of Industry and Trade, the Ministry of Energy, the Ministry of Agriculture, the Ministry of Communications and Mass Media and the Ministry of Economic Development to present proposals to the Russian Government concerning the deepening of small and medium business’ involvement in import substitution. This is one of resolutions on a list posted on the Government’s website following a meeting of the governmental commission on import substitution.

“The Ministry of Industry and Trade (D. Manturov), the Ministry of Energy (A. Novak), the Ministry of Agriculture (A. Tkachev), the Ministry of Communications and Mass Media (N. Nikiforov), and the Ministry of Economic Development (A. Ulyukayev) shall present to the Government of the Russian Federation by June 15, 2016 their suggestions concerning the expansion of participation of small and medium businesses in the implementation of import substitution plans”, is said in the Government’s release.

Besides, the Ministry of Industry and Trade, the Ministry of Energy, the Ministry of Agriculture, the Ministry of Communications and Mass Media, and the Ministry of Economic Development have been instructed to develop proposals by June 15, 2016 concerning the expansion of the scope of application of the special investment contracts mechanism for the purpose of implementing the import substitution policy.

The Prime Minister has also instructed the Ministry of Industry and Trade and the Ministry of Communications and Mass Media by July 20, 2016 to resolve the matter of automation of monitoring of implementation of import substitution plans using the state industry information system.

Dmitry Medvedev chaired the meeting of the governmental commission on import substitution on April 25 in Chelyabinsk. The Premier noted at the meeting that the support for import substitution with public funds would continue this year in approximately the same amount. He reminded the audience that in 2015 state support for import substitution amounted to RUB 53.5 billion, with another RUB 20 billion contributed by the Industry Development Fund.


More details: http://tass.ru/ekonomika/3262881

05/29/2016