Import substitution as a condition of the machine-building complex development in the region

The article describes the present-day significance of the machine-building for the economy of the Vologda Oblast and Russia. The peculiarities of the regional and country's mechanical engineering enterprises' foreign economic activity are reflected here. The main problems in the functioning of the industry are revealed, and the trends of its development are determined. The import substitution policy as one of the ways to improve the machine-building complex competitiveness is substantiated.