A new cluster investment platform

A cluster investment platform has been created in Russia to provide state support for such priority industries as the chemical industry, timber industry, automotive industry, metallurgy, railway transport and shipbuilding – those sectors which will ensure the technological sovereignty of Russia. The government will support projects that contribute to achieving the state’s main objectives – improvement of medicine, transport infrastructure, food security, energy and biosecurity. A total of 164 projects, worth over 5 trillion roubles, have already been approved.

All participants in the investment platform will be guaranteed demand for public procurement under Federal Law No. 44, as well as procurement under Federal Law No. 223. Tax and other types of inspections and tax and customs monitoring procedures will be less frequent with respect to investment project participants. The cluster investment platform provides low-interest long-term loans for projects worth up to 100 billion roubles.

According to Denis Manturov, Deputy Prime Minister and Head of the Minpromtorg, there will be tax benefits for cluster participants working under special investment contracts (SPIC 1.0). They will be granted zero income tax and reduced insurance premiums to 7.6%. Five billion roubles have been allocated for the first phase of the investment project launch. Further funding may be extended.