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Rostec expands cooperation with Republika Srpska

aerobd.news : Russian State Corporation Rostec and the Government of Republika Srpska signed a memorandum of cooperation during the MAKS-2019 international aerospace show in Zhukovsky, Moscow Region. The parties agreed to jointly develop innovative projects aimed at elaborating advanced technologies and promoting high-tech products. The document was signed by the Prime Minister Radovan Viskovic on behalf of Republika Srpska, and by Dmitry Lelikov, Deputy Director General of the Corporation on behalf of Rostec. The signing ceremony took place during the visit of the delegation of Republika Srpska to the Russian Federation.

“We agreed to develop our cooperation in the field of IT, education, healthcare and pharmaceutical industry, as well as in agriculture. I am convinced that the document will give an additional impetus to the development of trade and economic relations between Russia and Republika Srpska and will open new opportunities for mutually beneficial partnership,” said Dmitry Lelikov, Deputy CEO of Rostec. The agreement provides for joint development of priority innovative projects and the creation of the right environment for their implementation. It also envisages introduction of advanced technological solutions related to “smart city” and “safe city” technologies, as well as research and development of future-oriented technologies and technical solutions in order to implement digital economy projects.

Rostec intends to expand the product mix supplied to Republika Srpska, and is also interested in the localization of its manufacturing facilities. For example, Shvabe Holding Company (part of Rostec) is ready to supply its medical equipment to healthcare centers and hospitals of the Republic. In addition, the Holding Company is able to facilitate organizing the production of LED lamps in the republic. Rostec continues to implement its Strategy 2025, whose main goals are to increase the annual revenue by an average of 17% in ruble terms until 2025, bring the share of civilian products in its revenue up to 50%, as well as to increase its operational efficiency and gain access to international markets.

State Corporation Rostecis one of the largest industrial companies in Russia. It unites more than 800 scientific and industrial organizations in 60 regions of the country. Its key areas of activity are transport engineering, electronics, medical technology, chemistry and innovative materials. Rostec holdings form three clusters: electronics, weapons and aviation. The corporation’s portfolio includes such well-known brands as AvtoVAZ, KAMAZ, Kalashnikov, Russian Helicopters, Uralvagonzavod and others. Rostec is active in the implementation of all 12 national projects. The company is a key provider of Smart City technology, it is engaged in the digitalization of public administration, industry and social sectors, and it is developing plans for the development of 5G wireless technologies, an industrial Internet of Things, big data and blockchain systems.Rostec partners with leading world manufacturers such as Boeing, Airbus, Daimler, Pirelli and Renault. The corporation’s products are delivered to more than 100 countries worldwide. Almost a third of the company’s revenue comes from the export of high-tech products.​

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Syed Rafnan Ibne Rezwan

Syed Rafnan Ibne Rezwan