Government expects investment growth in Russia timber industry complex!
2 June 2017
For the first time, one of the key topics of the St. Petersburg Economic Forum was development of the timber industry complex in Russia. According to 2016 year researches, against a background of general reduction in investments in Russian industry in 2016, Russian timber industry demonstrated a positive trend, investments in the timber industry complex increased by 16.4% to 117 billion rubles.
According to the Industry and Trade Ministry of Russian Federation, questions of updating the material and technical base, modernizing existing enterprises and creating new productions will be discussed first of all.
A serious discussion was potential realization of the pulp and paper industry. The discussion touched upon attracting new large investments to the industry.
In general, for balanced development of the industry, required total volume of investments up to 2030 is more than 4 trillion rubles.
These investments will increase share of timber industry in GDP by 1.5 times (up to 1.3%) and create about 130 thousand jobs in the industry.
Source: Minpromtorg Rossii