According to Vasily Osmakov (Russian ministry of Industry and trade), at the end of H1 2016, the planned targets for the share of imports are performed in most industries of Russia. In the first quarter of 2015, imports in Russia amounted to 49% (average across industries), and in the first half of 2016 it reached 39% (plan – 44%).
The main instrument to support the import substitution program has become the Industry development Fund. At the moment 100 approved concessional loans worth 24 billion rubles, 77 loans already received the support.
Another tool is a special investment contract (Spic), which submitted 200 applications, 7 of them are approved. Investments in this direction are stated in the amount of 250 billion rubles, 3 thousand jobs.
In addition, Federal and regional target programs in 2016 will be allocated: 40.3 billion rubles for the Development of industry and increasing its competitiveness”, 12.8 billion rubles for the development of electronic and radioelectronic industry, 7.4 billion rubles for aviation, 6.9 billion for the pharmaceutical industry and medicine, and 5.3 billion for shipbuilding.