| ArticleName |
The eastern vector of Russian ferrous metallurgy: realities and opportunities |
| ArticleAuthorData |
Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences (Novosibirsk, Russia)
S. P. Petrov, Сand. Eng., Head of the Dept. of Applied Regional Studies, Leading Researcher, petrov.s.p@mail.ru |
| Abstract |
The “turn to the East” in the Russian economy looks like a natural continuation of state policy in the context of actions taken by countries unfriendly to Russia. An important role in this is played by the reorientation of the enterprises activities in the backbone sectors of the domestic economy, including metallurgical production. In the case of ferrous metallurgy, the issue is not so much about redirecting export flows to the East, but rather in accelerating the development of the economies of Siberia and the Far East towards increasing production of products with high value added, which creates demand for ferrous metals, as well as for other necessary resources. Despite the orientation towards the East within the framework of state policy, the conditions for industries in our country are primarily set by the market. However, practice has shown that economic development requires the use of state support measures to implement investment and crossindustry projects that provide positive effects for the socio-economic development. The issue of applying such measures necessitates taking into account the spatial features of the implementation of development projects, as well as an analysis of the prevailing conditions for their application, in particular, orientation towards the eastern way of the country’s development. The latter is due to the fact that it is not the first time that the Russian state has declared a “turn to the East”, which requires an analysis of the existence of an eastern vector in the sectoral context in order to create relevant development projects and state support measures at the current stage. This article was prepared according to the research plan of the Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences, project 7.5.1.4. (FWZF-2026-0010) “Integration and Interaction of Mesoeconomic Systems and Markets in Russia and its Eastern Regions: Structures, Institutions, Regulation,” No. 126020516492-2. |
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