Ministry of Industry and Trade says the state supports construction of 89 vessels in Russia

The mechanisms of state support are being applied to construction of 89 vessels in Russia, Denis Manturov, Minister of Industry and Trade said at the meeting of the Ministry’s Board. 

He says a ship utilization grand will be on the list of state support measures from 2017. 

State measures intended to support domestic shipbuilding include the RF Government Decree No 383 (dated 22.05.2008) on granting subsidies to Russian transport companies and shipping lines to compensate for 2/3 of the cost of interest on loans obtained to acquire vessels built at Russian shipyards.

Besides, Federal Law No 305 (dated 07.11.2011) on support of domestic shipping and shipbuilding provides for tax privileges when it comes to registration of vessels built by domestic shipyards after January 1, 2010.