Government Aims To Turnaround Autos Industry

The Russian government will invest nearly RUB180bn (US$6bn) in the domestic autos industry as a part of its broader RUB1,790bn (US$60bn) plan to transform the sector into a technologically advanced and highly competitive industry in the next 10 years. BMI believes that the announcement is well timed and highly strategic as it comes at a time when the market is heading for a recovery and signals government support towards the industry, thereby helping attract newer investments into the sector.

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