The investment project was implemented by LLC Kurskkhimvolokno within the framework of the plan of measures for import substitution
in the chemical industry.
New steel projects expected to come on stream in the next 12 months will save the national exchequer billions of dollars in import substitution
Yet an important distinction exists between how import substitution
is practiced in cities and how it was adopted on a national scale.
There are export and import substitution
opportunities, but structural problems caused by past neglect and lack of resolve will limit the country's ability to fully respond.
The sources said the Ministry is of considered opinion that it is high time to lure giant global manufacturers to relocate manufacturing facilities in Pakistan with special focus on import substitution
as well as export enhancement.
It could therefore become part of Abuja's much wider import substitution
strategy, which has seen the Central Bank of Nigeria refuse to provide hard currency to cover many basic imports.
European Union, Canada and a number of other countries the Russian government has declared the strategy of import substitution
as the main driver for economy development for the next several years.
There is a desperate need to promote import substitution
industries to Pakistan in order to save valuable foreign exchange, said member of National Committee on Small and Medium Enterprises (NCSME) Zulfikar Thaver.
helps create a self-sufficient economy and decreases "leakages" that occur when paying for imported goods.
He said: "The development of indigenous gas resources will deliver significant and sustained benefits, particularly in terms of enhanced security of supply, import substitution
, national and local economic development and fiscal return.
The official highlighted that Cuba will allocate its resources toward import substitution
and export in 2016, mentioning a 2016 investment plan of over 7 million U.
Maintaining economic stability, achieving a sustainable growth, reducing budget deficit and trade deficit by increasing exports and resorting to import substitution
, are among the objectives for next year's budget.