On May 6 (local time), TASS news agency reported that the Russian government has increased support for electronics manufacturing enterprises in the Far East and Arctic regions. The information was announced by Russian Prime Minister Mikhail Mishustin at a government meeting.
According to Mr. Mishustin, the government has increased the federal subsidy calculation coefficient by 10% for local electronics manufacturers in these strategic territories. This is part of the policy to support important industrial projects in areas far from Russia's main economic center.
To continue supporting important industrial projects in strategic territories, the government has set special increasing coefficients for federal subsidies. Support for local electronics manufacturers will be calculated to increase by 10%," Mr. Mishustin said.
The Russian Prime Minister said that the government has allocated more than 2.39 billion USD for these goals in the next 3 years. This budget will first be used to co-finance initiatives to build and modernize infrastructure of industrial parks and technology parks, including high-tech projects.
According to Mr. Mishustin, supporting the development of industrial and technological infrastructure is important for regions such as the Far East and the Arctic region. These are strategically located areas but far from Russia's European territory, where the majority of the population, production facilities and economic activities of this country are concentrated.
Increased subsidy coefficients are applied by Russia to promote the development of remote areas, while encouraging businesses to invest in production, infrastructure and technology. This policy is not only applied to the electronics industry but is also implemented in many other fields, including industry and agriculture.
The new move shows that Russia is seeking to increase domestic production capacity, especially in technology industries that play an important role in the economy and industrial security.
