This proposal was announced at the meeting by members and experts of the industry community, who gathered to discuss support measures for the chemical industry in a difficult economic situation. Chairman of Committee Mikhail Sutyaginsky initiated and moderated the extraordinary meeting.

As the Central Bank key rate is increasing, it affects the operation of the chemical industry. Besides, experts say that the number of export shipments to certain countries has decreased and transportation plans and supply chains have been changed because of shortage of tank cars and tank containers.

“Taking into account the current economic situation it is extremely important for the chemical industry to unite to solve problems effectively. I would like to emphasize that it is a matter of great importance to support the enterprises which have unfinished investment projects: they launch new facilities including import-substituting ones and they have current borrowings,” Mikhail Sutyaginsky, Chairman of the Board of Directors of the AO GC Titan and Chairman of Chemical Industry of “Delovaya Rossiya”, said.

To handle the current situation experts propose to fix loan rate for current borrowings and give soft loans (1% annually) to enterprises including systemically important companies.

Also, members of the Chemical Industry committee made a proposal to increase funding from the Industry Development Fund and the maximum amount of financing for the project.

 “We also propose to provide tax holidays in order to launch new production facilities and to support the companies that need to increase production capacity and manufacture import-substituting products,” noted Irina Vendilo, General Director of the ROSKHIMREAKTIV Association.

Experts believe that not only large companies need support. They propose to provide soft loans (1% annually) and extend loan repayment period (up to 10 years) as well as increase the amount to 3 billion rubles to finance the costs associated with the implementation of low-tonnage chemical projects and "pulling" projects.

Among the proposals is also an increase in the time frame for the implementation of R&D under Government Decree No. 1649 from 3 to 5 years. Alexey Vinnichenko and Vladimir Alginin, members of the General Council and Chemical Industry Committee of “Delovaya Rossiya”, also took part in the meeting and made their proposals.

The package of measures developed will be sent to the appropriate authorities of the Russian Government. 

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