Makhachkala, September 19, 2017. The financial means (150 million rubles) for the creation of the Republican Industry Development Fund have been included into the regional budget for the next year, Rajudin Yusufov, the vice premier, the Minister of Economy and Territorial Development of Dagestan said at the regular board of the Ministry of Industry of the Republic of Dagestan held September 18. The governmental officials summed up the results of the industrial development for the 8 months of 2017 and outlined the plans for activity by the end of the year.

"The fund's activities will be aimed at modernizing the industry of Dagestan, organizing new production facilities and ensuring import substitution. The corresponding line in the region's budget for the next year had already been envisaged" - Yusufov pointed out.