Russian govt to subsidize costs of participants in industrial clusters that produce import-substituting products
MOSCOW. Dec 26 (Interfax) - The Russian government is launching a preferential regime for enterprises that are engaged in import substitution as part of industrial clusters, and Prime Minister Mikhail Mishustin signed a resolution to this effect.
"From January 1, 2023, these enterprises will be able to reimburse up to 50% of the costs of purchasing initial batches of components produced by other participants of the cluster. The amount of subsidy per applicant could total 150 million rubles," the government said in a statement on its website.
"This decision will support domestic producers of materials, components and the component base working as part of industrial clusters. In addition, it will ensure the revival of broken cooperative ties in the industry and promote the transition of enterprises to the domestic component base," the statement said.
"The work is proceeding on the orders of the Russian president, which he gave following the 25th St. Petersburg Economic Forum in June 2022. Speaking at the forum, the head of state announced the tasks to elaborate key parameters of a preferential regime for industrial clusters," the government's website said.
Currently, there are more than 50 industrial clusters in Russia, which unite about 640 participating enterprises. The existing support mechanisms provide the opportunity to subsidize up to 30% of the incurred costs at all stages of production - from the elaboration of design documentation, industrial prototypes, the procurement of equipment and production accessories to the development of new products and the achievement of targets. The Russian Industry and Trade Ministry has previously supported 20 cluster projects totaling 3.4 billion rubles.