Ecuadorian regime leader signs deal with Russia

Rafael Correa in Russia

Last Wednesday the Ecuadorian President Rafael Correa signed a memorandum of cooperation between the Ecuadorian City of Knowledge Yachay and Russian Innovation Centre Skolkovo, during his third day while visiting to Russia.

The regime leader explained that the Yachay draft came a year ago and for its realization was assigned an area of ​​4,200 hectares and about $ 600 million for the initial investment. He added that Yachay will have several universities, research centres and will be like Skolkovo an area of ​​special tax regime should contribute to faster development.

According to the Public Company “Yachay EP”, the agreement seeks to enhance bilateral strategic ties, share experiences of various kinds in the fields of research, science and technology, application processes and the development of successful management models.