Russian Industry & Trade Ministry, REC Await Requests From Exporters to Support R&D
13:38 GMT 20.09.2021 (Updated: 14:38 GMT 20.09.2021)
© Sputnik / Pavel BednyakovRussian Export Centre
© Sputnik / Pavel Bednyakov/
The Russian Ministry of Industry and Trade and the Russian Export Centre (a member of the Major Financial Development Institution), have announced that they are open to requests for state support to cover part of the research and development (R&D) costs for export products.
Submissions are welcome any time between 24 September and 24 October 2021.
“High-tech industries will be able to retrieve up to 70 percent of the research and development costs to create new competitive production and homologation (improvement of the facility, improvement of technical characteristics for conformity with any standards or requirements of the consumer country - ed.) of existing products to ensure that they meet all the requirements of consumer countries outside the Russian Federation”, the report reads.
Support for exporters is provided on a competitive basis and is available for one project for a period not exceeding 36 months (including the time in which the industrial producer incurred the costs, not exceeding 12 months before the date of application).
“As early as this week, on 24 September, we will start accepting applications to support offsetting part of the exporters' research and development costs. The mechanism aims to strengthen the position of domestic producers of high-tech products and to encourage investment in the creation of products in demand in foreign markets”, said Alexey Solodov, Vice President of REC.
“The new state support measure, which was developed and applied this year, complements the general system of export development of domestic industrial products and their promotion to foreign markets, which is implemented under the national project on 'International cooperation and export', and aims to achieve the goals set for the Ministry by the President and the Government of the Russian Federation to increase the volume of non-energy, non-resource-based exports, primarily high-technology ones”, Roman Chekushov, Head of the Department of International Cooperation and Licensing in Foreign Trade of the Ministry of Industry and Trade of the Russian Federation noted.
Applications for grants can be made online at the State Industry Information System of the Ministry of Industry and Trade of the Russian Federation.