In a bid to replace imports affected by sanctions, the country plans to boost chemical production investment to roughly 1.1–1.3 trillion rubles and to accelerate GDP growth under an adaptive, fast-tracking scenario. The roadmap, presented by the Ministry of Economic Development, envisions as much as 2.5–3 trillion rubles of new capacity coming on line by 2030. This outline was shared by State Duma deputy Maria Vasilkova during a gathering of the expert council on the chemical industry, part of the Committee on Industry and Trade within the State Duma, convened at the Moscow International Chemistry Forum. (Source: Ministry of Economic Development)
Vasilkova highlighted a suite of government support measures designed to ease the pressure on chemical sector firms that are currently navigating heavy sanctions. The aim is to create a friendlier policy environment that can sustain investment, stabilize production, and maintain employment during a period of market volatility. In practical terms, the measures are intended to de-risk projects at every stage—from initial feasibility studies and permitting to construction, commissioning, and ongoing operation. (Source: State Duma testimony)
The plan introduces a new instrument to spur investment, advance technological sovereignty, and speed up economic growth: preferential loans for organizations pursuing investment projects focused on producing priority industrial products (PIPs). This financing option is designed to reduce the cost of capital for critical initiatives, encourage domestic suppliers, and help firms scale up capabilities that align with strategic national needs. Deputies and industry analysts view such instruments as pivotal to broadening domestic capacity and diminishing reliance on external suppliers. (Source: Vasilkova remarks)
During the discussion, Vasilkova also referenced an online survey conducted among participants of the Moscow International Chemistry Forum. The results indicated that a sizable portion of industrial firms are not fully aware of the existing support tools and how to access them. The deputy stressed the importance of clear, accessible information about available programs and called for intensified outreach to ensure broad-based awareness across the sector. (Source: Forum survey)
Echoing her point, Yuri Korsun, Deputy Chairman of VEB.RF, underscored that coordinating project financing within the chemical sector remains a top priority, including support for smaller chemical ventures that may lack scale but possess high growth potential. Korsun noted that a cohesive financing framework can help bridge the gap between ambitious investment plans and the practical needs of lenders, service providers, and project teams working within the industry. (Source: VEB.RF statement)
Representatives from the banking community provided practical insights into the challenges of funding chemical industry projects. A principal concern highlighted was the perceived technological risk associated with innovation. Financial institutions often hedge against uncertainty in new technologies, which can constrain capital availability for advanced or experimental processes. The dialogue suggested that expanding credit assurance, standardizing risk assessment, and offering structured insurance products could play a crucial role in unlocking capital for forward-looking projects. (Source: Banking sector panel)
Experts recommended several concrete steps to elevate risk tolerance and expand financing options. One suggestion was to create accredited engineering firms capable of assuming certain technological risks, effectively acting as risk absorbers for lenders. Another proposal involved backing insurance providers to raise coverage limits for insuring such risks, thereby giving investors greater confidence to back groundbreaking ventures. Taken together, these recommendations aim to build a more resilient investment ecosystem that can sustain long lead times, coordinate multi-stakeholder projects, and accelerate the deployment of critical industrial capabilities. (Source: Expert recommendations)