Deputy Minister of Industry and Trade of the Russian Federation Vasily Shpak announced that by the end of 2024, two domestic enterprises, Mikron and NM-Tech, will be able to satisfy the entire domestic demand for chips for bank cards in Russia. This is important, as Taiwanese and American chips have increased in price by 4-5 times due to the pandemic and sanctions. And some Russian banks could not order new cards at all because of this.
«We expect that by the end of 2024, we will be able to 100% meet the existing demand for bank cards within the country through domestic production, by the forces of local manufacturers, Mikron and NM-Tech», said Vasily Shpak. He also added that Mikron is currently fully fulfilling its obligations to Russian bank card manufacturers.
Currently, the Moscow-based Mikron plant is facing an unprecedented increase in orders for all types of microprocessors. For example, the company is currently fulfilling an order for 4 million chips for international passports.
