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EFFECTIVE USE OF LIMITED NATURAL RESOURCES AS A BASIS OF IMPORT SUBSTITUTION IN RUSSIA: THE EXAMPLE OF CHEMICAL INDUSTRY

Z. Vdovenko, O. Shipkova, I. Kukushkin, D. Klepikov, N. Grinev
Thursday 11 October 2018 by Libadmin2018

ABSTRACT

The article examines the main problems of the national industrial sector in a crisis. The national policy of import substitution is examined in the context of globalization. In the global economy, the development of industry in Russia is in a certain connection with the processes taking place in the highly-industrialized countries and the dynamic development and pricing competition from developing Asian countries. Tension in the geopolitical situation and the imposition of sanctions are putting pressure on the input of investment projects, including petrochemical facilities. Therefore, the adaptation of the national economy development system to the new conditions needs structural changes aimed at stimulating a modern technology initiation, including the technology of gas processing and gas chemistry. National industrial policy in the field of chemical industry is analyzed from the perspectives of involving a wide range of raw materials into production. Considered the terms and conditions for the development of modern technologies of raw materials processing and finished products manufacturing. Workable solutions are offered for the major problems associated with the process of import substitution in Russia. Based on the analysis of the investigated sector of economy the authors conclude about not only the possibility but also the necessity of the adjustment of the national strategy for the development sector from the point of import substitution view founded on improving the production activities of the domestic enterprises of the petrochemical complex.

Keywords: industrial policy, import substitution, investment, management technologies


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