Russia's "Silicon Valley" woos Chinese companies

08:48, August 24, 2010      

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Zelenograd, Russia's Silicon Valley, is trying to woo Chinese companies, hoping China's experience can be helpful.

The main strategic objective of Zelenograd, a satellite town of Moscow, "is to become the number one innovative and industrial hub in Russian nanoelectronics and biopharmacy," Dmitry Sirotkin, head of Zelenograd's Special Economic Zones Ltd, told a Russia-China conference on Monday.

Zelenograd unveiled a program to attract Chinese investors on Monday.

The town about 45 km from the center of Moscow has a strength in that it enjoys government support such as favorable land, tax and tariff policies and better access to transportation infrastructure, Sirotkin said.

Dong Songgen, a trade promotion official from China, said China had 30 years of experience in creating special economic zones and was ready to share this experience with Russia.

Zelenograd would be one of the principal targets for Chinese investors, he said.

"The majority of Chinese delegation are visiting Zelenograd for the first time. I think our businessmen will be interested in this zone," he was quoted by the Itar-Tass news agency as saying.

The Chinese delegation also visited Moscow Institute of Electronic Technology in Zelenograd.

Zelenograd's special economic zone was created in 2005.

Source: Xinhua


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