The Russian government expects to significantly increase the export of industrial products, despite sanctions and temporary difficulties caused by the COVID-19 pandemic, Russian Prime Minister Mikhail Mishustin said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 09th April, 2020) The Russian government expects to significantly increase the export of industrial products, despite sanctions and temporary difficulties caused by the COVID-19 pandemic, Russian Prime Minister Mikhail Mishustin said on Thursday.
Earlier in the day, the government held a meeting to discuss a consolidated strategy for the development of the Russian manufacturing industry until 2035.
"Labor productivity at medium and large non-resource based enterprises should grow at a rate of at least 5 percent per year, we focus on this. Of course, in the current situation, there are many questions, but we need to think about the future. And we need to seriously and significantly expand exports, including through machinery manufacturing products," Mishustin said at a meeting.
He noted that the draft strategy defines the key tasks for each industry, such as creating a larger component market for the automotive industry and a fourfold increase in the production of medical equipment and drugs for the healthcare industry.
"We hope that despite sanctions and temporary difficulties associated with the spread of the coronavirus, the strategy will significantly increase production in the manufacturing industry - by almost 93 percent in general and 180 percent in high-tech sectors," the prime minister noted.
The cabinet believes that the strategy will lay a good foundation for strengthening Russia's position in the global economy and for generating new sources of income for citizens and businesses.
