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2024: Creation of the National Project
Within the framework of the national project "International Cooperation and Export" until 2030, more than ₽1 trillion are allocated to support exports. These funds will be used to stimulate export-oriented production and modernization of enterprises, which should significantly strengthen Russia's position in world markets. This was announced in September 2024 by the vice-president of the Russian Export Center (REC) Roman Genkel at a meeting on measures to improve the investment climate in the Southern Federal District.
Roman Genkel noted that the decision to extend the national project provides for two scenarios: conservative, according to which ₽620 billion will be allocated to support exports, and optimistic, suggesting an amount of more than 1 trillion ₽. A basic conservative plan has been approved for September 2024, but a revision towards increased funding in the coming years is possible.
The national project includes measures to provide long-term financing to create new export-oriented enterprises. It also provides for the possibility of receiving federal co-financing of regional programs. One of the key areas is compensation for the cost of purchasing new equipment for modernization of production facilities, which will improve the quality of products intended for export.
The national project "International Cooperation and Export" prepared by the Ministry of Industry and Trade includes four federal directions. The first direction concerns the support of the export of industrial goods, the second - the products of the agro-industrial complex, the third - the improvement of instruments of foreign economic activity, and the fourth - the creation of export support mechanisms abroad.
According to Russian Prime Minister Mikhail Mishustin, by 2030, non-primary non-energy exports should increase by two-thirds compared to 2023 and reach ₽21,12 trillion. Exports of agricultural products are also planned to increase by one and a half times compared to 2021, which will amount to more than ₽4,7 trillion.[1]
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