On behalf of Veniamin Kondratyev, 1 billion rubles will be allocated for the development of import-substituting industries of the region in 2024

This decision was made by the Governor at the regional meeting on the development of industry in Armavir.

«We keep working in difficult conditions of unprecedented sanctions and pressure. The region has launched a special and so far unparalleled in Russia measure to support import-substituting industries — we cover 30 per cent of costs. In 2024, 330 million rubles have been earmarked for this purpose. It is clear that the measure is in demand and is paying off: new companies are created, and a tax base is increased. Next year, the amount of funding should be increased to 1 billion rubles, and perhaps even more,» said Veniamin Kondratyev.

Today, 15 manufacturers of import-substituting industrial products get aid to cover up to 30 per cent of the eligible costs. In total, more than 30 projects of import-substituting projects with a total investment of about 27 billion rubles are in the pipeline.

Enterprises with regional support are being created in nine municipalities. They all belong to the region’s priority industries — radio electronics, mechanical engineering, chemical, light, pharmaceutical industry and timber industry.

Thanks to a system of federal and regional support measures, 10 new production facilities were launched in the region in 2023.