International fashion industry invited to set up factories in Russia

International fashion industry invited to set up factories in Russia: Russia’s Deputy Industry and Trade Minister Viktor Yevtukhov this week invited the international fashion industry to take advantage of the subsidies and long-term tax breaks available to the country’s textile industry.
In a magazine interview, Yevtukhov explained that state support programs offered subsidies that allowed clothing manufacturers to partially recoup the costs of materials, technical upgrades and new investment projects. New factories could also also enjoy tax breaks lasting through to 2025, he said and pledged that manufacturers who set up shop in Russia would also be guaranteed a certain proportion of state procurement orders. rbth