Russia will start financing the construction of its Russian Industrial Zone (RIZ) next year, First Deputy Minister of Industry and Trade Vasily Osmakov said at a Russian trade forum over the weekend, Russian news agency Tass reports. Construction was originally expected to begin in 2020 but was delayed by the covid-19 pandemic. Osmakov did not provide details on how much financing is in the pipeline.

About the RIZ: The industrial zone will be implemented over the next 13 years but some companies are expected to start manufacturing products in 2022. As many as 32 Russian companies are interested in setting up shop in the zone, and are being lured by rental holidays, preferential tax rates, and lower energy tariffs.

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