ROME, Jul 3 (PRIME) -- Russia plans to double non-raw material exports to U.S. $200 billion by 2025, Deputy Economic Development Minister Nikolai Podguzov said at Russia’s investor day on Monday.
“Non-raw material exports are another factor of growth of the Russian economy. There is a goal of raising the amount of non-raw material exports to $200 billion by 2025, this is almost double the figure of 2016,” Podguzov said.
He said that there is an initiative to set zero value-added tax (VAT) on re-exports of goods processed in Russia by foreign producers.
VAT refunds will be accelerated, the foreign currency control rules simplified, and the required infrastructure will be developed, the official said.
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