The Russian linen industry will receive state support. The relevant decree was signed by the Chairman of the Government Mikhail Mishustin.

As clarified on the website of the Ministry of Industry and Trade, textile enterprises will be provided with subsidies. According to the ministry, this will influence the development of the industry even despite the economic consequences of the pandemic.

This summer the support of this segment was discussed during the meeting with the head of the state, after which the Ministry worked out a document aiming at making the production process cheaper and increasing the competitiveness of yarn and fabric made of flax.

Head of the Ministry Denis Manturov explained that these measures are also aimed at increasing the output of the corresponding products. More than 240 million rubles have been allocated for that, he said, with the funds to be allocated in equal amounts till 2025.

To date, the light industry can take advantage of subsidies amounting to 50% of the cost of equipment leasing and benefits for servicing loans, which the companies receive for the purchase of working capital.

It should be noted that last year the federal budget received nearly 50 billion rubles in taxes paid by light industry enterprises. It is 12% more than a year before.

Made in Russia // Made in Russia

Author: Ksenia Gustova