Lavrov: first step under 1956 declaration on peace treaty is signing of itRussian Politics & Diplomacy December 03, 14:47
Bank of Russia disclaims reports hackers steal 2B rubles from its correspondent accountsBusiness & Economy December 03, 14:42
Moscow sees nothing new in Congress banning cooperation between military of two countriesRussian Politics & Diplomacy December 03, 14:41
Lavrov: joint projects with Japan to bring relations to new levelRussian Politics & Diplomacy December 03, 12:29
Defense ministry says Russia delivers humanitarian aid to Aleppo daily 'unlike UK'World December 03, 7:29
Foreign ministers of Russia, Japan will discuss Putin’s upcoming visit to TokyoRussian Politics & Diplomacy December 03, 3:37
President of Luxembourg Forum welcomes Russia’s attention to threat of nuclear terrorismWorld December 03, 3:11
Presidential polls to determine vector for Uzbekistan’s further development — CEC chairmanWorld December 03, 2:44
Lavrov, Kerry discuss settlement in Syria at conference in RomeWorld December 03, 1:36
MOSCOW, August 11. /TASS/. The share of import in the Russian industry declined by 5% in the last six months. A large number of new import substituting production facilities is established and entails growth of domestic goods on the consumer market, Acting Minister of Industry and Trade Gleb Nikitin said on Tuesday in an interview with the RBC TV channel.
"Import substitution may be of two kinds. This is the quick and immediate import substitution on existing facilities. We note such import substitution even at the falling market. The import share dropped by 5% in average in 5-6 months of 2015; the share of domestic content rose accordingly," Nikitin said.
This is particularly related to the processing industry and industrial and construction segment, he added.
"The second stage of import substitution is to create new production facilities and implement new investment projects. The import substitution of such kind requires an investment phase and needs more time. We will probably see results in such import substitution later," the official said.
The industry was challenged by a range of problems when launching the import substitution program, Nikitin said.
"Problems with disruption of traditional cooperation chains occurred," the acting minister said. He added the ministry notices a large number of initiated greenfield projects even despite problems with capital availability.
"A large number of initiatives appear in the mechanical engineering sector and in the processing industry for establishment of new production facilities that are import substituting ones," Nikitin said.