Yours is a run-on sentence that is awkward and verbose. One alternative would be to insert commas: VW and GAZ plan to set up a joint venture and apply , by the end of February , to the Ministry of Economic Development for the benefits of the program to support the assembly industry. As a native speaker, I would rephrase as follows: By the end of February, VW and GAZ plan to set up a joint venture and apply for benefits to support the assembly industry.
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