Nizhny Novgorod region targets import substitution

Nizhny Novgorod Governor Valery Shantsev took part in a business meeting devoted to prospects and opportunities of import substitution in the region.

According to the head of the Nizhny Novgorod region, it is import substitution that should become a key direction of development of industrial potential against the backdrop of the changing situation.

"First priority in the policy of import substitution in the region should be paid to creating conditions for the production of competitive products that would be in demand on both the domestic and foreign markets," Nizhny Novgorod region Governor Valery Shantsev said.

The plan to facilitate import substitution in the Nizhny Novgorod region in 2015-2020 is ready. The plan stipulates for new measures enabling financial support for the enterprises focused on import substitution, as well as activities to monitor prices for products, promote "Buy Nizhny Novgorod Goods" program and develop the logistics network to sell food products from local producers.

According to the governor of Nizhny Novgorod region, such industries as machine tools, heavy machinery, light industry, electronic, pharmaceutical, medical, food industry, defense industry and agriculture are most promising in terms of import substitution. The region already implements several successful projects aimed at import substitution.

Shantsev stressed out that one should not pin all hopes on energy resources. One should develop economy and production regardless of the dynamics of prices on energy carriers. Improving the social sphere is always a priority as well, Governor Shantsev said.