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SPIK 2.0 can’t stand two (“Kommersant”)

As Kommersant found out, the government again changed the concept of the investment mode being developed for industry – new special investment contracts (SPIC 2.0). Now each contract will be allowed to be signed by only one investor-without any involved parties. This will probably make it impossible for automakers to enter into a SPIC with the participation of component manufacturers, as well as contracts similar to the one signed by the AVTOVAZ Alliance with Renault, Nissan and Mitsubishi in January. SPIC should be the key to access to industrial subsidies that compensate for waste collection, and the government expects that all the largest car companies operating in the Russian Federation will sign contracts. Deputy Prime Minister Dmitry Kozak offers to conclude each special investment contract under a new mechanism (SPIC 2.0) – only with one investor, according to the minutes of the official’s meeting on January 17 (Kommersant has it, its authenticity was confirmed by a representative of the Deputy Prime Minister). Mr. Kozak instructed the Ministry of industry and trade, the Ministry of Finance, the Ministry of economy and the FAS to exclude from SPIC 2.0 the possibility of including other persons on the investor’s side in the contract. Since 2015, the mechanism of “old SPIC” (SPIC 1.0) has been introduced, which give tax benefits for ten years in exchange for investment. In 2018, began the development of a new, more transparent Speke 2.0. Automobile contracts were needed as a replacement for the welling up of benefits under the agreements on industrial Assembly. A number of them managed to sign the “old SPIC”: for example, AVTOVAZ-Renault-Nissan-Mitsubishi, Hyundai, GAZ group, Daimler, waiting for approval of “Avtotor” and BMW, showed interest, according to “Kommersant”, Volkswagen and Ford. Bryan Cave Leighton Paisner partner Vladimir Chikin explains that it is not possible to conclude a contract with several investors under SPIC 1.0, but there may be “involved parties” – they, unlike the investor, will not receive tax benefits, but they can be guaranteed access to state subsidies. According to the wording of the instruction, he believes that SPIC 2.0 excludes this possibility. The purpose of the refusal of the involved parties in the departments do not explain. But this, apparently, makes it impossible to conclude SPIC 2.0 by automakers with the involvement of component manufacturers. According to sources of Kommersant, the idea was discussed when preparing a strategy for the automotive component industry. It will not be possible to conclude such contracts as the “old SPIK” signed by AVTOVAZ on January 21-with the participation of the Renault-Nissan-Mitsubishi Alliance. Linking state subsidies to SPIC is also particularly important for the automotive industry: at the end of 2018, Dmitry Kozak announced that only contract holders will be able to get access to industrial subsidies (de facto compensation for scrap collection). As the sources of Kommersant explained, this was to cut off “garage production” from subsidies, but it would also make the work of players localized in the Russian Federation without SPIC economically unprofitable. The representative of the Deputy Prime Minister Ilya Dzhus explained that the government staff expects that the remaining major players in the automotive industry will conclude a SPIC “under existing conditions”. PSA and Toyota are among the concerns that receive compensation for scrap collection under industrial Assembly agreements, but have not yet shown interest in the SPIC. In other industries, there was no idea to make SPIC key for access to state support. Ivan Glushkov, Deputy head of Stada CIS, says that in the pharmaceutical industry, SPIC is an insurance for non-deterioration of tax conditions and, as a rule, was previously concluded by one investor. In General, according to him, the SPIC does not guarantee preferences for admission to state support for pharmaceutical companies, giving only the right to be the only supplier in public procurement. SPIC 2.0 involved the conclusion of contracts for the competition for the localization of new technologies from the list approved by the government. Previously, there were supposed to be exceptions (SPIC without competition) for defense technologies, by the decision of the President, Etc. now Dmitry Kozak instructed not to allow the signing of SPIC 2.0 without competition. Also, the term of contracts will be limited to the end of 2030. But sources of “Kommersant” in the automotive industry note that there is no list of technologies for SPIC 2.0, and the Ministry of industry and trade today requires contracts to localize, for example, the production of engines. They fear that the list will include obviously unenforceable provisions, such as the localization of electric vehicles, which will make the SPIC 2.0 a barrier to access to waste collection compensation. “Kommersant” A Author: Kommersant, source: AUTOSTAT

A source: https://www.autostat.ru/articles/37574 / © AUTOSTAT.