Viktor Khristenko: We continue to support Russian exporters by subsidized credit interest rates
Minister Viktor Khristenko said at a meeting of the Social Council of the Industry and Energy Ministry, “The Ministry of Industry and Energy has always been engaged in the restructuring of industries that are largely state-controlled. In short, we look to establish public corporations and integrated companies in strategic sectors of the Russian economy. Now that key decisions on United Aircraft Corporation have been made (in 2006 and 2007) and work is underway to build the company and launch first breakthrough projects, our priority for the first half of this year is to finalize the plan of United Shipbuilding Corporation. Very impressive are the Ministry’s expenditures related to acquisition of stakes in such companies. United Aircraft Corporation has been built since 2006, consuming investments of 6 billion rubles annually. The work to establish United Shipbuilding Corporation will start this year, and the plan is to invest about 2 billion rubles. We continue to support Russian exporters by subsidized credit interest rates (2,8 billion rubles were allocated in 2005-2006, and 3 billion rubles in 2007). We are drafting proposals on customs tariff regulation to stimulate import of new technologies including new equipment, and to protect the domestic market from unfair competition. We actively finance implementation of innovative projects in the mechanical engineering industry”.