Speaking at the forum, Minister of Industry and Trade Denis Manturov said that within the next few years, investors in the Russian engineering industry may have the chance to tap into unique opportunities offered by the vast market for machine-tool equipment, which is estimated in the billions of dollars. According to the Minister, defence enterprises will be acquiring large numbers of machine tool equipment each year until 2020, and updating their production facilities and fixed assets in accordance with the current federal programme for advancing the military-industrial complex.
In addition, according to Denis Manturov, there are other industries, such as metallurgy and light industry, which will be buying and installing equipment using their own investment funds.
Denis Manturov said that the Ministry of Industry and Trade is prepared to create favourable conditions for investors. It is likewise interested in having investors work on developing new equipment alongside Russian experts.
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The Ministry of Industry and Trade has adopted several industry-specific policies and targeted growth programmes until 2020, whereby hundreds of major Russian machine-building enterprises will be retrofitted. These investment projects will create an additional demand for metal-working equipment, conservatively estimated at of 2.5 billion euros annually.
