Yakutia to help to develop diamond factory

"The program will include mechanisms of solving problems, connected with training of qualified personnel for the complex, variants to support enterprises that work in lapidary industry, and attraction of investors in this sector. The draft program should be submitted to chairman of the republic’s Cabinet Galina Danchikova before June 1," - he said in interview with local mass media.

According to the Minister, now the diamond industry in Yakutia is characterized by a lag of technology for the equipping many diamond and jewelery enterprises, a high level of depreciation of fixed assets, lack of professional staff, a shortage of working capital, the absence of well-developed distribution network and higher prime costs as compared with other Russian and foreign manufacturers, caused by existing taxes, customs duties and lending rates, as well as the remoteness of the republic.