The Press Office of the Ministry for the Development of the Russian Far East announced on Tuesday that the Far East High Technology Fund (FEHTF) is planning to launch the Smart City project in Khabarovsk Krai and Sakhalin Oblast.
Russia launched the Smart City project in 2018, and it has been implemented as part of Russia’s Digital Economy national program and Housing and Urban Environment national priority project since 2019. The Smart City standard comprises a set of tools, priority areas and solutions geared towards digitalizing the urban environment. According to the Ministry for the Development of the Russian Far East, the FEHTF and the local Primorye Territory Government are implementing this project in Vladivostok, Artyom, Ussuriysk, and Nakhodka.
“The project aims to upgrade the existing urban infrastructural systems: from lighting, video surveillance, and transport to social platforms for communicating with the public. According to Ruslan Sarkisov [CEO of the Far East High Technology Fund], similar projects will be implemented in the other regions of the Far Eastern Federal District: The Far East High Technology Fund has already signed an agreement approving the Smart City project with the Government of the Sakha Republic (Yakutia), and is working to launch the project in Khabarovsk Krai and Sakhalin Oblast”, the Press Office stated.
The Fund already financed and approved the first six projects worth of over RUB 700 mln in total in 2019. It has supported IT, content delivery, hardware, and energy storage projects.
The Far East High Technology Fund (FEHTF) was established in August 2018 by the Far East Development Fund (FEDF, affiliated with VEB.RF), Rusnano, and Russian Venture Company to promote hi-tech industries and innovative activities in the Far East. It manages RUB 5 bln. The FEHTF invests in intelligent software and the industrial Internet of Things, alternative energy and energy storage, robotics, biotechnology, IT, and cloud solutions for business. The Fund’s average investment amounts to RUB 100-150 mln.
The national priority projects are scheduled to last until 2024 inclusive. The Digital Economy national priority project is comprised of six federal projects and is set to to receive RUB 1,634.9 bln in financing. The Housing and Urban Environment national priority project comprised of four federal projects is set to receive over RUB 1 tln in financing. Learn everything you need to know about the national priority projects at Russia’s Future. National Priority Projects.