Export-oriented projects totaling 1.2 trln rubles planned in Russian agribusiness sector to 2025

STAVROPOL. July 14 (Interfax) - There are plans to carry out about 400 export-oriented investment projects totalling 1.2 trillion rubles in Russia's agribusiness sector in the period to the end of 2024, the head of sectoral development at the Agriculture Ministry's Agroexport Center, Vitaly Nagalin said.

"For the period to 2024, as of 2021 there are plans to implement 395 export-oriented investment projects, the amount of investment in which exceeds 1.2 trillion rubles," Nagalin said at a seminar on regional agribusiness exports in Stavropol.

"As a result of the implementation of these projects, the additionally created amount of exports will exceed $6.8 billion-$6.9 billion, or 20% of 2020 exports," he said.

Virtually all Russian regions saw exports increase in 2021, although only about ten regions account for more than 67% of the country's total agribusiness exports, he said.

"In this regard, we see territorial diversification of exports as the key area of further development in this field, support for exports that are gaining ground, dynamic, increasing the diversification of regional exports. The regions that are not in the top ten right now must grow significantly faster than the leading regions," Nagalin said.