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Russian business sector pours over $2.5 bln into software import substitution

Mikhail Mishustin recalled that in the last year alone, the total amount Russian organizations spent on foreign software licenses reached over $3.26 bln

MOSCOW, November 7. /TASS/. Russian companies are investing over 155 bln rubles ($2.53 bln) in developing domestic IT solutions, Deputy Prime Minister Dmitry Chernyshenko said at a meeting with Russian Prime Minister Mikhail Mishustin.

"We are witnessing a lot of interest and involvement by businesses in the development of domestic IT solutions," he said. "We see that the business sector undertook very substantial financial commitments to finance these developments to the tune of over 155 bln rubles," Chernyshenko noted.

He recalled that in the last year alone, the total amount Russian organizations spent on foreign software licenses reached over 200 bln rubles ($3.26 bln).

"Thanks to the work done in accordance with your instruction, we'll be able to use the freed-up resources to develop our own IT solutions, ensuring our technological independence and sovereignty. Russian IT companies will be involved in the development and will probably receive the largest order in the world for carrying out such a massive project," the Deputy PM said.

"These funds will be used to create solutions in all industrial and economic sectors. IT solutions will be implemented as soon as possible. This is the task we set - the project's initial findings will be delivered literally next year and in 2024," Chernyshenko added.

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Mikhail Mishustin

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