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Invest Cyprus 30/04-30/03/2019
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Invest Cyprus Sign MoU with Russia’s Skolkovo Innovation Centre

Invest Cyprus Sign MoU with Russia’s Skolkovo Innovation Centre

The highly important 2nd Working Group Meeting of the Russia-Cyprus Intergovernmental Commission on Economic Development was held in Moscow in the beginning of March. The participation of the Cypriot delegation in the session was sealed with the signing of a Memorandum of Understanding between Invest Cyprus and the globally renowned Skolkovo Innovation Centre.

The Working Group was established with the aim of following through with the two countries’ Governments’ plans to promote closer economic cooperation, particularly in innovative sectors. Head of the Republic of Cyprus delegation was Georgia Christofidou, Director of the General Directorate for European Programmes, Coordination and Development, who highlighted the importance of promoting cooperation between the two countries in a practical way, with the aim of promoting synergies between stakeholders and the creation of opportunities for new investments. The Cypriot delegation consisted of state officials and representatives from the private sector and the academic and research community, officials from the Cyprus Telecommunications Authority, members of the Cyprus Chamber of Commerce and Industry, the Research Promotion Foundation (RPF) and interested companies, under the coordination of Invest Cyprus, which was represented by Kyriacos Kokkinos, member of the Board of Directors. The joint working group was held at the Russian Ministry for Economic Development and was attended by representatives of more than 47 agencies from throughout Russia that operate in the sectors that were discussed.

The Cypriot delegation then visited the Skolkovo Innovation Centre. In the context of the visit, specialised meetings were held with Skolkovo executives focusing on opportunities for cooperation in the fields of research and innovation, energy, start-ups, IT, telecommunications, biomed etc.

Commenting on behalf of Invest Cyprus on the signing of the Memorandum of Understanding, Kokkinos stressed the importance of the visit for the promotion of priority sectors that can contribute to economic growth in Cyprus. “Our Organisation is continuously taking initiatives for the further development of key sectors so as to enhance investment prospects and make Cyprus more attractive to foreign investors. We aim to lay the foundations for long-term and sustainable economic growth, the benefits of which will be maximised with time.”

The General Director of the Research Promotion Foundation Dr Vasilis Tsakalos said: “Further to our contribution towards organising the Cypriot delegation and starting with the memorandum of understanding that was signed between Cyprus and Russia, the Research Promotion Foundation has also started meeting with the relevant institutional bodies in Russia to form a common bilateral programme to fund research projects, which will provide further incentives for the development of collaborations.”

It is worth noting that the Skolkovo Innovation Centre was founded in 2010 and is located in the western outskirts of Moscow. Its facilities host scientific groups which carry out research on new technologies for energy, bio-medicine, space, nuclear and IT.

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