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Dubai Finalized as the Host for the First Overseas Russian Innovation Hub

Dubai finalized first overseas Russian innovation hub

Dubai Finalized as the Host for the First Overseas Russian Innovation Hub

Last Updated on March 4, 2020


Dubai Internet City has signed an agreement with the Russian Export Centre for launching the first Russian Centre for Digital Innovations and ICT.

The announcement of the opening of the centre in Dubai Internet City is happening when the UAE and Russia have reported growth of $1.2 billion in 2017 in bilateral trade between the countries.

Dubai Internet City or DIC has recently signed an agreement with the Russian Export Centre (REC) to launch the first ever Russian Centre for Digital Innovations and Information and Communication Technologies located in Dubai.

The centre has been planned in a space of over 20,000 sq ft in DIC and is the first of a total of four global centres that are being planned. It will be the first assurance to investment promotion of this magnitude by Russia outside of its borders.

This centre’s opening is announced at a time when Russia and the UAE reported substantial growth of to $1.2 billion in 2017 in bilateral trade between the countries.

Top leaders of both the countries have pledged to strengthen their trade and industry relationship, after an important two-day visit by Sheikh Mohammed Bin Zayed Al Nahyan, who is the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces to Russia.

Earlier in 2018, leaders of both the nations also reviewed their bilateral relations, spoke about cooperation, and finally signed the dotted line for a new strategic partnership.

Ammar Al Malik, who is the managing director of Dubai Internet City and Dubai Outsource City said that “The UAE and Russia have shared close business ties for decades, and for DIC to be chosen as the first overseas destination by REC is a true testament to Dubai’s key position as a global business destination. The Russian Centre for Digital Innovations and ICT in UAE, along with other innovation centres and labs that DIC is home to, will serve as a catalyst for this vision.”

Marat Korovaev, who is heading the IT Export Support Department, REC was of the view that Dubai’s goal and plans for taking the position of the smartest city in the world are really second to none and the Russian IT industry will definitely add significantly to the triumph of this vision.

Various factors such as the bilateral ties, favoring and simple business processes, and a fostering environment which bolsters new innovation and exchange of best practices, have incited on the selection of Dubai and DIC as the first-ever destination for the total of four planned centers located outside of Russia. It is the right time for company incorporation in Dubai or DMCC company formation. In case you require any professional help regarding this, do get in touch with us at IMC.

Besides opening this centre, the DIC and Russian Export Centre will come together and support UAE-based and Russia’s technology businesses and companies of all sizes, which includes all the start-ups and also entrepreneurs, thus supporting DIC’s pledge to offer a thriving and fostering ecosystem for organizations and businesses to grow.


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