Russia's constituent regions to receive 7.2 bln rubles in support up to 2025 for developing electronics industry in tech parks - Mishustin

MOSCOW. Sept 26 (Interfax) - The Russian government plans to allocate funds annually to the country's constituent regions for developing their own electronics industry domestically, Prime Minister Mikhail Mishustin said at a meeting with deputy prime ministers on Monday.

"In order to do this, we will launch an additional measure, we will support the start of new projects in industrial technology parks, and we will allocate special subsidies to Russian constituent entities to co-finance their expenses for forming specialized infrastructure," Mishustin said at the meeting.

Mishustin noted that the amount would be up to 300 million rubles a year for each region that will submit their projects for selection. "The funds will reduce the costs of the management companies of the technology parks and, accordingly, offer businesses more favorable conditions, as well as facilitate the formation of technological competence centers and collective drafting and design areas on such territories, thereby expanding the capacity for preparing and producing prototypes," he said.

Overall funding for the new program in 2023-2025 will be 7.2 billion rubles, according to a message on the government's website. Subsidies will be allocated as part of the state program "Developing the electronic and radio-electronic industry".

Mishustin also noted that there would be additional opportunities to test electronic components for further mass production of high-quality end-products.

"We expect that at least 150,000 square meters of modern production facilities and up to 3,000 jobs will be created in the next seven years owing to the assistance," Mishustin said.