Electronics manufacturers asked to introduce credit benefits when purchasing Russian equipment

According to a source familiar with the situation, a decision on this proposal may be made in the near future. No comment could be obtained from the FRP and the Ministry of Industry and Trade did not respond to Kommersant’s request.

According to the information on the FRP website, the base rate of the loan is 5% and a preferential rate of 3% is available with a bank guarantee or VEB.RF guarantee. In addition, a 3% rate is applied to the purchase of Russian software and equipment. Equipment that is not registered with the Ministry of Industry and Commerce, but that belongs to Russian owners, is considered Russian, explained a source in the electronics market. In early 2024, President Vladimir Putin ordered an increase in the fund’s funds by 300 billion rubles.

In parallel with the discussion on preferential rates for customers, the government has already allocated funds to finance equipment manufacturers. Last week, Prime Minister Mikhail Mishustin ordered the use of 18.5 billion rubles from the reserve fund to support producers, including subsidizing interest rates of up to 5% on existing loans.

Chairman of the Board of Directors of Basalt SPO Alexey Smirnov noted that preferential loans for the purchase of domestic software through the Federal Investment Fund have not yet been in demand. The actual interest in such a program will depend on the amount allocated by the fund, since budget funds for such projects have now been distributed, he added.

According to Mikhail Dobrokhotov, director of government relations of the GS Group, the successful implementation of projects in the field of radio electronics is possible only under non-market loan conditions. He highlighted that the tariff reduction will stimulate ongoing initiatives and increase demand for home equipment.

The Fplus representative pointed out that with the current refinancing rate of 21%, most projects, even in marginal areas, face difficulties. Long production cycles involving design, component procurement and device assembly cannot support this cost of money. This affects the final price of the product, forcing customers to look for solutions, he explained.

He also noted that Russian manufacturers do not always have sufficient stock and focus on large orders. The increase in key tariffs further increases the cost of equipment, which complicates its promotion on the market.

In September, Deputy Minister of Industry and Trade Vasily Shpak reported that since 2020 the Russian electronics market has multiplied by 1.6. In 2023, the volume of the domestic radioelectronic products market reached 2.63 trillion rubles; In seven months of this year it already amounted to 1.51 trillion rubles. By the end of 2024, this figure may increase to 2.8 billion.