Agriculture Ministry wants targeted support for food, processing industry
MOSCOW. Jan 30 (Interfax) - The Russian Agriculture Minister proposes a targeted approach to government support for the food and processing industry.
"To stimulate long-term investment in this industry, the Agriculture Ministry has submitted amendments to the law on agriculture development to the government that are aimed at expanding measures to support those that process agriculture commodities," Deputy Agriculture Minister Dmitry Yuryev said at the "Where the Margin is?" conference in Moscow Thursday.
A targeted approach is required, he said. "Support should not be given to all the food and processing industry sectors, of which there are over 30, but only to those for which it will serve as an impulse for development," he said.
The bill envisages that the government will establish the list of agriculture products for which government support can be received.
"The Agriculture Ministry is currently analyzing the situation and outlook for development in areas and sub-areas of processing companies in order to determine business areas that have investment appeal and points of growth that can become competitive under WTO conditions," the deputy minister said. "We will also identify areas where investment options are difficult and unappealing."
Based on the information discovered, the ministry will adjust the government support mechanism according to priorities, he said.