Deputy PM orders govt to sign investment contracts with carmakers

MOSCOW, Nov 26 (PRIME) -- Russian Deputy Prime Minister Dmitry Kozak has lifted a government moratorium on consideration of new special investment contracts and ordered the government to ensure signing of the contracts with carmakers Hyundai, GAZ Group, BMW, and Avtotor, according to a protocol of a government meeting seen by PRIME on Monday.

According to the document, the authenticity of which was confirmed by Kozak’s spokesman Ilya Dzhus, the Industry and Trade, Economic Development, and Finance ministries together with the Federal Antimonopoly Service are to provide the same preferences and tax privileges for the companies that do not hurt allocations of industrial subsidies by the government.

Kozak also ordered the government to work out amendments that would ensure equal access of car producers to industrial subsidies of the government. These subsidies compensate part of power costs, costs on production and guaranteed support of cars with the Euro-4 and Euro-5 class engines, and costs on upkeep of workplaces.

Currently, Kaliningrad’s Avtotor, producer of Chinese cars Derways, and Stavropol Avto plants are barred from receiving industrial subsidies.

End