Government of the Russian Federation articulated support measures for the timber industry

Viktoria Abramchenko, Deputy Chair of the Government, held a meeting devoted to the situation in the timber industry.

The plans also include creating facilities to produce associated goods for timber processing – chemicals and rolling stock for their transportation, equipment, spare parts for the furniture industry. The Ministry of Industry and Trade will analyze the volume of the consumer market of the above goods and endorse an action plan on support measures for companies involved in import substitution programs.

According to Victoria Abramchenko, important industry support measures will include extending to 5 years the terms of subsidized loans granted by the Industrial Development Fund, as well as priority support for projects aimed at import substitution of timber products. Specifically, fluff pulp production can begin promptly in the Arkhangelsk Region.

In order to support enterprises, a decision was made to put a one-year moratorium on raising forest use rates and conducting scheduled oversight inspections. The terms of implementing priority investment projects in the forest sector will also be extended by 1.5 years. The Government will additionally expand the list of crossing points at the state border for sawn timber export. This will help increase export shipments.