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        State support of the enterprises implementing corporate competitiveness enhancement programs

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        State support of the enterprises implementing corporate competitiveness enhancement programs
        28 January 2019

        The Federal project “Industrial export” of the nation-wide project “International cooperation and export” provides for achievement of export turnover of competitive industrial products equal to 205 billion US dollars per year by the end of 2024, it is planned to sign 320 agreements for support of industrial competitiveness programs.

        For the purpose of implementation of the federal project, the Resolution by the Russian Federation Government № 191 of February 23, 2019 defines the order for formation and approval of the combined list of companies implementing corporate competitiveness enhancement programs and which are the manufacturers of the federal and regional significance. Also, the procedure for concluding corporate programs implementation agreements has been established. In addition to the above, the corporate program is understood to be the company’s business program aimed at enhancing the competitiveness, growth in products output and marketing.

        In order to be included in the combined list of the Russian companies implementing the corporate programs, the most effective enterprises will be selected based on export potential and volume of financing required to support the Russian-made products to access the foreign markets, promote competitive ability of the Russian production works as well as to switch the enterprises into export. The list will include both systemic companies and enterprises included in the regional lists and which passed preselection in the constituent entities of the Federation.

        The companies will be responsible for implementation of the parameters and measures stipulated in the corporate programs. The enterprises that signed the corporate programs implementation agreements can get access to export projects financing including insurance coverage of the respective export credits and capability to use a wide range of bank instruments (different kinds of letters of credit, assignment of claims, factoring and others).

        Financing will be awarded to the projects for arrangement of the Russian production works abroad and the projects for organization of the export-oriented productions within the Russian Federation, including productions funding and supply of products (components) for export. With the aim of making it possible to implement such projects, the banks will be provided subsidiary support in the form of a compensation for lost profit.

        In the framework of implementation of the state support mechanism the federal subsidies will be granted to the credit organizations qualifying for certain criteria in order to compensate for part of rates of interests on export credits and other financing instruments similar to economical credits as well as compensation for part of insurance premium under the export credits insurance agreements.

        Monetary funds for the state support of the companies implementing the corporate competitiveness enhancement programs are envisaged in the federal budget for 2019 and for the 2020 - 2021 prospected period.

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