Page 124 - RusRPTOct21

9.1.13 Other sector news
MinPromTorg has issued new proposals to amend the existing government policy to localize production of heavy equipment, in this case primarily equipment used for mining activity such as lifts and conveyors. The new proposal strengthens requirements for localization and the transfer of know-how and operations to Russian production sites annually from Jan. 1 in 2022, 2023, and 2024.ut it's unclear what the real end goal is given labor is tight on the Russian market and investment levels are still low – it's a decent idea to produce more heavy tech in Russia,ut is likely to end up raising prices for domestic procurement without providing much growth.
124 RUSSIA Country Report October 2021 www.intellinews.com