Moscow has allocated more than 800 million rubles for import-substituting industries

The Moscow authorities allocated over 800 million rubles. for the development of import-substituting industries, informed mayor of the capital Sergey Sobyanin in his Telegram channel.

“More than 800 million rubles have been allocated for the development of import-substituting industries,” he wrote.

The head of the city explained that in April 2022 the Moscow Innovation Cluster launched a grant program for the creation and expansion of such industries.

As a result of the selection, 15 applications were approved for companies operating in the fields of medicine, pharmaceuticals, IT, electrical engineering, mechanical engineering, the pulp and paper industry, and the production of building materials.

As clarifies the official portal of the Moscow mayor, a little over 200 million rubles. companies will receive in advance, the remaining funds will be paid annually, based on the actual costs and timing of the project. At the expense of the grant, they will be able to cover half of the costs for the purchase of real estate or connection to engineering networks. The funds can also be spent on the rights to the results of intellectual activity, the purchase of equipment or software.

In December 2022, Sobyanin said that Moscow business managed quickly adapt to new realities after the strengthening of anti-Russian sanctions. The departure of foreign companies created both many problems, for example, in terms of components, and opportunities – many managed to take advantage of these opportunities, Sobyanin explained. In particular, the automotive industry has suffered more than others, but you can develop your own experience and take steps forward, he noted. The direction of electric vehicles is promising in this area, the mayor added.