Dagestan's Industrial Development allocates RUB 172 million to support factories

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Dagestan Industrial Development Fund has granted approval for six projects submitted by industrial enterprises in the republic in 2024. The project proponents have outlined their plans for expansion and acquisition of new equipment, with a total state support amounting to RUB 172 million.

According to Magomed Isuev, the Fund director, these initiatives will contribute to increased revenues for budgets at all levels, creating 70 new jobs, while generating a total revenue of RUB 7 billion for the enterprises involved.

Isuev further emphasized that the Fund completed the process of establishing and registering three industrial clusters in the register maintained by the regional Ministry of Industry and Trade: the Glass Cluster, the Shoemakers' City Cluster and the Wool Processing Cluster.

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