Stimulation of production of key components in the country this year will amount to € 570 million (40 billion rubles), said the Minister of Industry and Trade of the Russian Federation Denis Manturov.

He made such a statement during the conference "Russia and the World in 2021", which was held online.

It is worth mentioning that the need to improve and develop this production became especially urgent during the pandemic, since many countries, including Russia, are dependent on supply of components from China which caused problems at their enterprises.

According to Manturov, the crisis has demonstrated the vulnerability of the existing supply channels. Now the ministry is working to stimulate industrial production, he added.

The Minister also said that Russia intends to introduce, together with partners from Germany, technologies for smart manufacturing, which will allow to secure itself in the case when the main technologies and competencies are concentrated in several multinational companies.

Thus, the transition to joint production of products with high added value in the automotive industry, aviation and energy is planned.

The head of the Ministry said that German companies were among the first to localize their production in our country. This, he said, resulted in Russia's integration into global production chains. Among the examples he cited were Volkswagen, Siemens and Bosch.

Made in Russia // Made in Russia

Author: Ksenia Gustova