News

21 / 01 / 2020

Subsidies aimed to boost demand, competitiveness streamlined

The Russian government has endorsed a new procedure for the allotment of subsidies, which are aimed to boost demand and competitiveness of Russian-made products (Resolution No. 1908 dated December 27, 2019). The 2020 federal budget assigns 9.8 billion rubles for the subsidies. The first applications will be chosen between January 27 and February 27, 2020. The list of winning companies will be published in March, and subsidy agreements will be concluded in April.

The government support mechanism will be available to a broad range of enterprises. The document envisages a transparent procedure of equal access to qualifications, conclusion of subsidy agreements, and distribution of subsidies between recipients.

The main goal of the program is production modernization and promotion of the demand for domestic industrial equipment. The main qualification criterion for subsidy recipients is the efficient use of public funds, i.e. the ratio of the product portfolio value to the requested support. E-interaction between program participants is achieved via the State Information System for Industries and the Electronic Budget system.