The challenges and areas of neo-industrial import substitution development in the Russian economy

The article deals with the neo-industrial import substitution in the Russian economy - the government’s policy focused on the restoration of the competitive manufacturing industry and innovative development of basic sectors. The authors discuss the challenges of import substitution in the Russian manufacturing industry and the strategic ways of facing them. The authors propose to develop institutional environment as the main vector, in particular, the state program of neoindustrial import substitution investments.