Innovative projects of Russian composite manufacturers receive 6.5 bln rubles in federal support - ministry
YEKATERINBURG. Oct 22 (Interfax) - Russia's Industry and Trade Ministry has currently supported more than 45 innovative projects in the field of composites production, Russian State Secretary and Deputy Industry and Trade Minister Viktor Yevtukhov said on Thursday during the VIII Forum Composites without Borders.
"The amount of support has been more than 6.5 billion rubles," Yevtukhov said, adding that a large number of enterprises in the industry have received support in the form of compensation for the costs of research and development as well as the subsequent launch of innovative products.
Yevtukhov said that the average annual growth rate in the output of polymer composites in Russia has been optimistic since 2013.
"In monetary terms, we are growing by more than 9% per year. This is higher than the global leaders of Germany, the United States, Japan, and China even though it is clear that they occupy a considerably larger share of the market. Taking into account the financial and non-financial support measures, as well as the activity demonstrated by a number of our country's enterprises, we should be able to catch up to the leaders in rather long strides to compete with them," the deputy minister said.