Sberbank head German Gref called microelectronics “the most complex technology of mankind”

According to German Gref, semiconductor production has become the most competitive sector. Today, no activity can be organized without chip production, the head of Sberbank noted.

Given the high interest rate set by the Central Bank (the regulator raised it from 18 to 19% at the last meeting), the issue of financing the industry becomes “very difficult,” Gref stressed.

The head of Sberbank recalled that Russia has government programmes to support industry, for example in the areas of personnel training and scientific foundations for the electronics industry. However, the country risks a large-scale shortage of specialists in this field: Gref estimated that by 2030 there will be 50 thousand people.

By the end of 2023, the microelectronics sector in Russia received 147 billion rubles in the form of various types of support (benefits, subsidies, etc.) from the state. In 2024, it is planned to allocate 210 billion rubles to this expenditure item, said Denis Manturov, former head of the Ministry of Industry and Trade, in 2023.

In May 2024, one of the largest microelectronics manufacturers, Element, raised 15 billion rubles during an initial public offering (IPO). The investments will allow the company to implement a development program, ensure production growth, develop and market new products and technologies, as well as special technological equipment.