Russia Invests in Shipbuilding Industry

Russian President Dmitry Medvedev stated that investments in Russia’s shipbuilding industry will amount to over 600 billion rubles, including 330 billion rubles of budget funds, Prime Business Agency reports.

Medvedev signed a federal law with tax relieves stimulating the domestic shipbuilding industry.

The law exempts shipbuilders and shipping companies from payments to Russia’s Pension, Social Insurance and Compulsory Medical Insurance Funds.

Medvedev said that the main aim of the program is to restore Russia’s position as a shipbuilder.

[mappress]
Shipbuilding Tribune Staff, November 9, 2012