MOSCOW, 29 Jan. The Cabinet of Ministers of Russia approved the program of support of light industry in 2016, modernization, stimulating demand for domestic products increase in production. The corresponding order published on the Agency’s website.
“The program, in particular, provides for amendments in the legislation to empower the government the right to establish criteria for the classification of light industry enterprises to the small and medium-sized enterprises in order to provide them with state support”, — stated in the explanatory note to the document.
In addition, the extension to 2016 of the subsidizing organizations and textile industry in terms of reimbursement of expenses for paying interests on loans received for working capital, financing current activities and the implementation of new investment projects on technical upgrading.