Machine-building enterprise MTE Kovosvit Mas, located in Azovsky district of Rostov region, plans to sign an investment contract with Russian Ministry of Industry and Trade.
MTE Kovosvit Mas plans to sign an investment contract with Ministry of Industry and Trade
Machine-building enterprise MTE Kovosvit Mas, located in Azovsky district of Rostov region, plans to sign an investment contract with Russian Ministry of Industry and Trade. The contract will consolidate the enterprise’s status of entirely Russian-based manufacturer that gives an opportunity to apply for state support. According to company representative, MTE Kovosvit Mas may be the first machine-building enterprise in Russia to conclude such contract.
The investment contract will be based on the Resolution of the Government of the Russian Federation Ļ719 “On criteria of subsuming the industrial products under the industrial products that have no produced in Russian Federation analogues”, which will come into effect on 1 October. According to the Federal Act “On industrial policy in Russian Federation”, which has entered into force this summer, the possible preferences include cheap loans from the Industry Development Fund, tax remissions and subsidies. MTE Kovosvit Mas also reckons on decreased custom duties for components.
MTE Kovosvit MAS was founded in July 2012 by MTE Group and Czech company KOVOSVIT MAS on a parity basis. MTE Kovosvit MAS is the supportive company for the development project of the regional machine-building technology cluster in Rostov region.
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