Support for industrial and technology parks has been intensified in Russia

The Russian government has expanded the mechanisms of state support for private industrial, industrial and technology parks in the field of high technologies. Prime Minister Mikhail Mishustin signed the relevant decree.

According to the official document, park management companies can partially compensate for the costs of modernizing, reconstructing, and creating infrastructure facilities based on existing industrial enterprises and for the reindustrialization of production facilities.

The mechanism for compensating the costs of developing parks' industrial infrastructure has also been expanded to attract private investors. The subsidy amount will be 99% of the costs.

“The new resolution also allows for the provision of subsidies from the federal budget for the creation of industrial infrastructure in regions implementing individual socio-economic development programs included in the list of geostrategic territories, and in single-industry towns, which will contribute to the opening of new jobs. The initiative extends support measures for technology parks to new regions, which will allow for the restoration and development of industry in these regions,” the Russian government noted.

Earlier it became known that Bashkiria and Belarus will create a joint industrial technology park.

Author: Ivan Vavilov