Ulyanovsk Region Plans To Host Russian-Chinese Youth Business Incubator In 2021 - Governor

Faizan Hashmi Published December 31, 2020 | 03:15 PM

Russia's Ulyanovsk Region expects to host a joint Russian-Chinese youth business incubator next year, which was canceled in 2020 in light of the COVID-19 pandemic, Governor Sergey Morozov told Sputnik

MOSCOW (UrduPoint News / Sputnik - 31st December, 2020) Russia's Ulyanovsk Region expects to host a joint Russian-Chinese youth business incubator next year, which was canceled in 2020 in light of the COVID-19 pandemic, Governor Sergey Morozov told Sputnik.

"We see great potential for the development of youth and business ties [between Russia and China]. This will be facilitated by the participation of the youth of the Ulyanovsk region in the International Youth Forum in the Volga-Yangtze format and the holding of the next Russian-Chinese youth business incubator in Ulyanovsk in the summer of 2021," Morozov said.

The governor added that two countries would "continue the path" of strengthening mutual trust and maintaining high-level cooperation.

"If the epidemiological situation permits, it is planned to organize mutual visits, business negotiations, exchanges of delegations at all levels, from participation in intergovernmental commissions and meetings of regional leaders to youth exchanges and ties at the level of individual organizations, enterprises, universities, creative groups," Morozov said.

According to the governor, entrepreneurs of the Ulyanovsk region are interested in the implementation of China's Belt and Road Initiative aimed at building a global trade route network.

Morozov mentioned that a container train arrived directly from China to the Russian region for the first time on July 14 thanks to the initiative.

"Thanks to the project, Ulyanovsk entrepreneurs will be able to directly send their products abroad, thus saving time for delivery and reducing transportation costs. The train allows you to deliver goods four times faster. If in the past the delivery time took 60 days, today this time is reduced to 15 days," the governor said.

Morozov also pointed to other advantages of the Initiative, including improved logistics and reduced cost of goods.