Tuesday, May 22, 2018

Sverdlovsk governor holds import substitution meeting

This week, Sverdlovsk’s governor, Eugene Kuyvashev, held a meeting with other government officials and business leaders concerning import substitution options.

The meeting was held in the operational headquarters. The attendees discussed creating and producing commodities that will be substituted for products Sverdlovsk currently imports.

"Today, the most important conditions for the growth of the industrial potential of the region, creating the necessary basis for social development, are the development and implementation of a program of import substitution, the revival of the Ural School of Engineering, raising the level of scientific and industrial cooperation in the real sector of the economy,” Eugene Kuyvashev said. “I would like to dwell on the issue of import substitution. Given the instability of foreign policy, foreign economic situation is not only a question of production -- it is the question of security of the region and the country as a whole.”

Authorities have started a plan to create import substitutes. One of the action steps includes the Ministry of Industry and Science systemizing a plan to develop substitutions. They must study promising markets, prepare and present proposals to support the projects, and grow partnerships between organizations of varying sizes.

The most recently introduced changes include 14 product lines that need to be repaired.

Along with Kuyvashev, attendees included line ministry representatives, leaders of industrial associations and entrepreneurs from the energy sector.

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