Finnish Technopolis Stakes Its Claim to Investment Area
St. Petersburg authorities sealed past Friday an understanding memorandum with Finnish Technopolis, which specializes in constructing and maintaining technological parks.
Oct 11, 2005
St. Petersburg authorities sealed past Friday an understanding memorandum with Finnish Technopolis, which specializes in constructing and maintaining technological parks. Technopolis undertakes to create a park worth ˆ200 million provided Smolny gets the sanction for it. The hurdle is the imminent competition with another project, which is supervised by the IT and Communication Ministry of Russia and advocates establishing the park based on the Bonch-Bruevich Telecom University.
Under the memorandum sealed by Technopolis (ˆ30-million past year’s revenues) and St Petersburg, the former is ready to fund creation of a technological park in the city. Vladimir Blank, who chairs St. Petersburg Committee on Economic Policy and Trade, said once Smolny gets the sanction for creating a special economic area (technology promotion type), Technopolis will construct a ˆ200-million technological park of 200,000 sq m. "In November, we will apply to the RF government concerning establishment of a special economic area at the territory of Noidorf industrial zone," the official specified.
Pursuant to the Act on the Special Economic Areas that has been passed this year, all companies incorporated within them will have significant tax and customs benefits.
But Noidorf project may face fierce competition. Another project sets forth creating a technological area based on Bonch-Bruevich Telecommunication University of St. Petersburg. That project, which is expected to cover 45 hectares and cost $1 billion, is promoted by the IT and Communication Ministry of Russia. The difference is that, unlike Noidorf, the project of the ministry won’t have the resident’s status, Blank pointed out, absolutely sure of success, the more so that even Vneshtorgbank appears willing to provide money.
"It seems premature to speak of any definite amount or projects. We are ready to invest $50 million on year in innovative projects on a competitive basis," said Oleg Byakhov, director of the E-Community Creation Department of the IT and Communication Ministry. In general, the ministry’s officials don’t appear agitated about the emergence of a potential competitor. Byakhov doesn't think the territorial principal applies to creating economic areas. "The purpose is to back up all IT-industry of Russia, not certain territories. So, now we are making out amendments to the Tax Code and, if they were taken, all market players would have benefits."
Under the memorandum sealed by Technopolis (ˆ30-million past year’s revenues) and St Petersburg, the former is ready to fund creation of a technological park in the city. Vladimir Blank, who chairs St. Petersburg Committee on Economic Policy and Trade, said once Smolny gets the sanction for creating a special economic area (technology promotion type), Technopolis will construct a ˆ200-million technological park of 200,000 sq m. "In November, we will apply to the RF government concerning establishment of a special economic area at the territory of Noidorf industrial zone," the official specified.
Pursuant to the Act on the Special Economic Areas that has been passed this year, all companies incorporated within them will have significant tax and customs benefits.
But Noidorf project may face fierce competition. Another project sets forth creating a technological area based on Bonch-Bruevich Telecommunication University of St. Petersburg. That project, which is expected to cover 45 hectares and cost $1 billion, is promoted by the IT and Communication Ministry of Russia. The difference is that, unlike Noidorf, the project of the ministry won’t have the resident’s status, Blank pointed out, absolutely sure of success, the more so that even Vneshtorgbank appears willing to provide money.
"It seems premature to speak of any definite amount or projects. We are ready to invest $50 million on year in innovative projects on a competitive basis," said Oleg Byakhov, director of the E-Community Creation Department of the IT and Communication Ministry. In general, the ministry’s officials don’t appear agitated about the emergence of a potential competitor. Byakhov doesn't think the territorial principal applies to creating economic areas. "The purpose is to back up all IT-industry of Russia, not certain territories. So, now we are making out amendments to the Tax Code and, if they were taken, all market players would have benefits."