To provide investment projects with cheap fund, the Ministry for the Development of the Russian Far East has implemented two preferential financing programs. In addition, backbone enterprises received 44 billion rubles of preferential loans to replenish working capital under special programs as part of the measures of the Government of the Russian Federation to increase the stability of the economy in the face of sanctions.
In parallel, the Ministry for the Development of the Russian Far East is systematically working to improve the scheme of sectoral regulation in the interests of Far Eastern producers. The tariff quota for the export of corn for Far Eastern agricultural producers has been tripled. The export of rapeseed from Transbaikalia is allowed. 27 checkpoints for the export of wood chips, pellets and lumber have been opened - all restrictions have been eliminated. A bill has been submitted to the State Duma to “zero out” VAT for ship repair enterprises, which will allow shipbuilders to save up to 2.5 billion rubles a year and use these funds to renew production assets. New mechanisms are being developed to support livestock and vegetable projects in the Far East, in which it is planned to attract at least 40 billion in private investment.