News of company
Export to the brink
The accelerated import substitution program was launched in 2014. “It had the greatest effect on the machine-building sector. Thus, the share of Russian products in heavy engineering increased over the past five years from 40 to 67%, in the oil and gas - from 43 to 54.7%, in the food - from 12 to 40%,” said "RG" Deputy Minister of Industry and Trade.
In most manufacturing industries, the share of domestic products should exceed 70% by 2024. It is, in particular, energy and heavy engineering (81.7 and 73%, respectively), the electrical and cable industries (80.2%). It is planned to increase the share in oil and gas engineering up to 65%, in the machine tool industry - up to 31% (see chart).
"In most manufacturing industries, the share of domestic products should exceed 70% by 2024"
Since the start of the import substitution program, almost a thousand types of products have been launched. The total amount of investments attracted by the business amounted to about 2 trillion rubles. “Now our main task for the next five-year period is to ensure the implementation of national projects with Russian products and technologies. The demand is estimated at about 5,800 industry positions, with about 80% already being produced in Russia,” added Vasily Osmakov.