Strategies and factors of import substitution in the market of fund-creating engineering industry products in Russia

Abstract

The article is devoted to the questions of import substitution in the market of fund-creating engineering industry products in Russia. The choice of import substitution strategy at the current stage of the structural reorganization of the Russian economy has acquired increased relevance. They are especially important in manufacturing and machine building with the aim of increasing the level of military capacity, as well as food, technical and technological independence of the country. This is due to the need to improve the integration links of our economy with the leading countries of the world economy. In the context of increasing economic sanctions against Russia, the priority task is to radically change the structure of exports and imports by reducing the share of output of raw materials industries in exports and engineering products for investment purposes in the structure of the country's imports. In the article the attention is paid to the strategies of increasing the competitive capacities of the fund-creating engineering industry, the selection and implementation of innovative and investment policies. One of the strategies for increasing the volume of production of the fund-creating engineering industry is aimed at using the potential for growth in the utilization rate of its operating enterprises. At the same time, the priority direction in solving this problem is the priority development of industrial production core in conjunction with the program of conversion and diversification of military industrial complex production. Implementation of this strategy requires a number of organizational and economic measures and mechanisms. The main ones are proposed by the author. Significant opportunities for enhancing Russia's fund-creating potential are also available within the framework of the Eurasian Union, with an orientation toward a strategy of expanding the integration space of the countries of the Union with Russia's leading role in high-tech development. The main directions of solving the strategic problem of increasing the reproductive technological potential of Russia through import substitution in the market of fund-creating engineering industry products are summarized in the article.