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Vnesheconombank and Russia’s Industry and Trade Ministry to Develop Innovative Medical Products Sector

15 february 2018 года
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State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and the Russian Ministry of Industry and Trade have entered into a cooperation agreement during the Russian Investment Forum 2018.

The document was signed by Vnesheconombank's Chairman Sergey Gorkov and Russian Industry and Trade Minister Denis Manturov.

The parties are planning to cooperate in manufacturing innovative medical products and creating a high-tech medical cluster for manufacturing trauma, orthopaedic and prosthetic products and providing the associated services at CITO (Trauma and Orthopaedic Research Centre) facilities. The cooperation will aim at re-equipping the existing production facilities in trauma and orthopaedic surgery to bring them up to the competitive level and implementing a set of measures to facilitate the entry of Russian manufacturers into national and foreign markets of innovative medical products.

The agreement provides for comprehensive cooperation, expert support, exchange of information and implementation of joint initiatives.

“Vnesheconombank pays great attention to innovation and health projects. We have already successfully completed a few projects in this field. Pharmaceutical companies have won the Development Award a number of times. We are prepared to support socially important catch-up projects in sectors where Russia can become a global leader,” said Sergey Gorkov.

“The Russian Trade Ministry has been implementing an investment project aimed at re-equipping CITO facilities under the national programme Development of the Pharmaceutical and Medical Sector 2013-2020. The facilities will provide space and environment for a high-tech medical cluster for manufacturing trauma, orthopaedic and prosthetic products, thus facilitating the production of strategically important medical products, their entry into Russian and international innovative products markets and further unlock the potential of the Russian medical industry,” said Denis Manturov. According to him, the project will help restore the existing manufacturing facilities and bring up the quality of services in the trauma, orthopaedic and prosthetic sector to the competitive international level.


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