Russian authorities to compensate pharmaceutical manufacturers for 80% of the cost of export transportation

Manufacturers and suppliers of high-tech products will be eligible for subsidies compensating up to 80% of the costs of their transportation to foreign markets. The list of such products includes medicines and intermediates for their production, dental pastes and waxes, dressings and hygiene products, etc. The corresponding decree was signed by Mikhail Mishustin, the Prime Minister of the Russian Federation.

To receive a subsidy, companies do not need to submit an application in advance indicating the planned volume of shipments and undergo the selection procedure, the press service of the Cabinet of Ministers notes. To receive a subsidy, it is enough to provide documents confirming the supply of products to foreign markets to the Russian Export Center, and this can be done both through My Export digital platform and in the traditional paper form.

Moreover, the maximum amount of compensation payment has more than doubled, going up from 11% to 25% of the value of exported industrial goods. A total of almost 8 billion rubles is provided for these purposes in 2022 within the framework of the national project “International Cooperation and Export”.

Market participants will be able to receive subsidies as early as in 2023 for goods delivered abroad from July 1 of this year.

Source