It will become easier for exporting enterprises to transport industrial products

The Russian Government has adopted Resolution No. 1347 "On State Support of Russian Industrial Organizations in order to compensate for the costs of Transportation of industrial products". The document assumes subsidies to organizations up to 80% of the cost of transporting industrial products by the end of 2024. At the same time, the new compensation model provides for the absence of ranking of organizations and the need to submit documents in advance for participation in the selection with delivery plans, as well as the possibility of using the services of international carriers.

Recently, the cost of logistics has increased markedly, creating an additional financial burden on the business. Therefore, the new measure will provide tangible support to investors implementing projects in the field of industry. The revised subsidy parameters are already receiving a positive response from residents of our preferential zones who work or intend to work for export," commented Nail Gabbasov, General Director of the Development Corporation of the Republic of Bashkortostan. According to the new decree, exporters will be able to count on the subsidy within the limits of budget funds upon the fact of transportation, while an application must be submitted to the Russian Export Center.

The subsidy mechanism will be implemented within the framework of the national project "International Cooperation and Export". It is intended to facilitate access to foreign markets for Russian industrial companies. According to the Ministry of Industry and Trade of Russia, the maximum subsidized value of cost compensation for the supply of products from all industries, starting from July 1, 2022, will be increased from 11 to 25% of the value of exported products. 8 billion rubles have been allocated for the implementation of the subsidy in 2022. The Department is actively working to fine-tune existing mechanisms and launch new ones.