To realize the aim of establishing a platform for technological cooperation between the two countries’ innovation ecosystems, the National Development Company and the Skolkovo Foundation (VEB.RF Group) of Moscow, Russia, have signed a Memorandum of Understanding.

The Trade Representative of the Russian Federation in the Philippines cited that, according to expert estimates, joint projects could generate between $200 to $500 million over the next three years, as they will work together to build long-term mechanisms for collaboration between ecosystem participants, corporate clients, and investors, as well as jointly promote innovative projects.

On September 17, ahead of the signing ceremony, a Philippine delegation visited the Skolkovo Innovation Center.

The delegation, which included Philippine Undersecretary of Trade and Industry Allan B. Gepty, Undersecretary of Energy Felix U. Fuentebella, and NDC General Manager Saturnino H. Mejia, was introduced to Skolkovo’s unique innovation ecosystem and advanced technologies. Discussions with Dr. Timur Kornilov, PhD, who is Skolkovo’s Managing Director for Strategic International Partnership, Knowledge & Technology Transfer, focused on expanding mutually beneficial cooperation, strengthening business ties, and developing joint initiatives in science, education, and high technology.

The Philippine Innovation Hub located in Marikina City, a joint project of the NDC and the Department of Trade and Industry to promote innovation and enterprise development, can serve as a platform providing systemic access for Russian ICT companies to the Philippine market and ensuring sustainable support for their long-term presence in the region.

“The ICT sector and the innovation market in the Philippines have significant potential for collaboration. What is required are tailored support mechanisms—from government institutions to business associations and venture funds. The signing of this Memorandum and the creation of an intergovernmental cooperation platform lay the foundation for systematically addressing these challenges,” said Artyom Tsinamdzgvrishvili, Trade Representative of the Russian Federation in the Republic of the Philippines.

“A key focus of the platform will be the development of specialized soft-landing programs for technology companies, including piloting solutions, integrating them into Philippine government and corporate structures, and attracting investment funds from both sides,” he added.

Meanwhile, Timur Kornilov, Managing Director for Strategic International Partnerships, Knowledge and Technology Transfer at the Skolkovo Foundation, stated that the Philippines can become a strategic partner for Russia in the field of information and communications technology within ASEAN, given the country’s rapidly growing market, which reached $38 billion in 2024.

“The platform, based on the Philippine Innovation Hub, will systematize this process, providing Russian companies with direct access to partners and customers. We expect that in the coming years, cooperation could deliver up to $500 million annually, while most importantly opening the path for scaling advanced Russian technologies in agricultural automation, logistics, fintech, education, cybersecurity, smart city solutions, and digital transformation across Southeast Asia,” he noted.