Development prospects of automotive cluster
- The automotive industry is one of the key branches of the economy which creates a multiplicative effect for other industrial sectors of the Russian Federation.
- The automotive industry is a priority branch due to high investment activity, given that manufacturers of cars and auto components are large foreign investors.
- The current situation in the economy more than ever facilitates localization of production, especially in terms of technologically complex units and components, primarily engines, transmissions, chassis and electronics.
- Leningrad region implements a long-term policy of innovative development of the region as a place favorable for doing business.
index of industrial production of cars
(in January-April 2021)
volume of produced vehicles, trailers and semi-trailers in January-April 2021
(138.7% in comparison with January-April 2020)
volume of investments in fixed assets in January-March 2021
(250% in comparison with January-March 2020)
Government support at the regional level:
- reduction of corporate income tax (from 17% to 13.5%)
- reduction of corporate property tax (from 2.2% to 0%)
- reimbursement of expenses on transportation of personnel, on training and retraining of personnel
- reduction of corporate income tax within special investment contracts (from 17% to 5%) and reduction of coprorate property tax (from 2.2% to 0%)
Government support at the federal level:
- provision of loans with interest rate from 1 to 5% for the period of up to 5 years amounting to 50–500 million rubles
- subsidies to automotive organizations for partial reimbursement of expenses on payment of interest rate under the credits received in 2015 for refinancing and (or) purchase of claims on credits and loans formerly received by their subsidiaries
- special export support programme – partial reimbursement of expenses of transportation of products to organizations including automotive organizations, agricultural engineering organizations, transport engineering and power engineering organizations
- subsidies for reimbursement of expenses connected with production of wheeled vehicles
- subsidies to manufacturers of wheeled vehicles on partial reimbursement of expenses on research and development and testing wheeled vehicles