The government will allocate more than 7.5 billion rubles to support industrial enterprises

Over 7.5 billion rubles will be additionally allocated from the Cabinet’s reserve fund to support enterprises producing import-substituting products. Order No. 3711-r dated December 19, 2023 was signed by Prime Minister Mikhail Mishustin.

With the help of the allocated funds, at least seven more investment projects related to the creation and modernization of import-substituting industries and implemented with the support of the Industrial Development Fund will be financed.

“Under the conditions of external pressure, it is necessary to continue to actively increase our own production, develop and implement breakthrough technologies and innovations, and, in the shortest possible time, fulfill the task set by the President to achieve technological sovereignty,” noted Mikhail Mishustin at the Government meeting on December 22.

According to the head of the Cabinet, thanks to the decisions already made over the 11 months of 2023, over 200 such investment projects were supported for a total amount of about 100 billion rubles. In general, the volume of concessional loans issued by the fund is now approaching half a trillion rubles.

“We will continue to pay special attention to such areas as transport engineering, chemical and light industry, machine tool building and radio electronics,” the Chairman of the Government emphasized.