The current import substitution initiative in Russia opens several business opportunities for Swiss suppliers of the relevant sectors. The main goal of the Russian authorities is to boost the local production. Thus, the national industrial policy is aimed at developing the manufacturing of Russian products that are to replace imports («import substitution») and as a consequence an increase in domestic production («production localization»).
The machine tool industry is one of the sectors in focus of the import substitution plans of the Russian government and the Russian authorities put a lot of efforts in convincing the domestic and foreign manufacturers to invest into the modernization and the expansion of the production. In total, research done by the Swiss Bussiness Hub revealed 13 investment projects implemented by domestic companies in partnership with foreign producers. These offer possibilities for Swiss suppliers as well.
To learn more, download the comprehensive study, check page 12 for a table on specific investment projects by Russian companies and authorities - and get in touch with our consultants in Switzerland!