Russia plans to start operating its analogue of Silicon Valley in Crimea by 2020 with the total revenue of its enterprises expected to reach more than $1 billion in five years.

The project, called Digital Valley of Crimea, was presented at an economic forum in Yalta on Saturday and involves the development of an area specializing in mass hi-tech production.

“By 2020, the cumulative income of enterprises located in the digital valley will reach 60 billion rubles ($1.2 billion) and 17,000 highly skilled jobs will be created,” said the secretary of the working group on the project, Evgeny Babayan, quoted by TASS. “This will have an effect on the whole of Russia, Crimea will become a growing point.”

The main scientific and technical bases will operate in Crimean and Sevastopol’s State Universities, he said. A number of Russian federal agencies, including Rostech, Rostelecom and GLONASS have already joined the project… see more

source: RT