ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
According to a report in Rosiyskaya Gazeta, an official newspaper of the Russian government, the Ministry of Industry and Trade (Minpromtorg of Russia) has formulated a strategy for the development of the children's goods industry until 2020. The strategy is now sent for approval to the Russian government. It targets an export increase of 20-30 per cent of children's goods and and increase of the market share on the local market. Currently, imported children's goods dominate the Russian market. For example, 60 per cent of the children's cosmetics and baby products are supplied by importers; this share is 90 per cent for children's shoes, clothes and toys. China is a key supplier of these goods.
Among others, preferential prices for state order supplies, reduced VAT and compensation of interest payments of loans of producers are planned to fulfill this strategy.
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