10 Dec 2019 14:55

Govt allocated 1.3 trln rubles for import substitution in 2019-20 - Medvedev

GORKI. Dec 10 (Interfax) - The Russian government has set aside 1.3 trillion rubles for import substitution projects in 2019-20, Prime Minister Dmitry Medvedev said at a meeting of the Government Commission on Import Substitution.

Between 2015 and 2018, over 1.6 trillion rubles was allocated to such projects, he said.

"Over the past five years, since mid-2014, we've been persistently adhering to the policy of import substitution. This policy is intended not only to ensure the country's security; it is also essentially a key instrument in the development of the production base of the most important sectors, for which dependence on imports of products, services, and technologies is extremely high. Between 2015 and 2018, over 1.6 trillion rubles was allocated for import substitution in industry, and we continue to provide support to substituting imports in the most important areas," Medvedev said.

The food and processing industries are growing "the most successfully," he said. "Domestic production volumes have increased decently in machine-building, the radioelectronic industry, the timber sector. Stable growth in the chemical industry. I've named those sectors where growth was 10-30%. Development rates need to be higher in other spheres, as well," Medvedev said.

He gave several examples of successful work for the creation of new materials and products: DNA tests, drilling systems for oil and gas fields, and materials used in road construction and the auto industry.