Russia opens technical textiles industry to foreigners

Russia opens technical textiles industry to foreigners

Russia plans to create conditions that would attract foreign investments in its national technical textiles industry in the next few years. The planned measures will mainly include provision of tax and customs benefits to foreign investors and the allocation of funds for the establishment of facilities for the production of technical textiles and nonwovens within Russia. One of the biggest purchasers of the products that will be produced at the future plants, to be operated by foreigners, will be Russia itself

Chinese investors have expressed interest in acquiring some of Russia’s leading nonwovens and technical textiles mills in order to produce and export finished products for their domestic market, where the demand for technical textiles in recent years has significantly increased.

In addition, German and French enterprises have also expressed interest in the Russian technical textiles industry. The companies are planning to supply the latest technologies in the field of technical textiles production.

However, the potential sale of some of Russia’s leading industry players to foreign companies, especially Chinese, has sparked criticism. There are fears foreign acquisitions may pose a threat to the Russian state security, since many of the Russian companies involved in the negotiations supply their products for the needs of the domestic defence and space industries.

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