The Russian Federation has agreed to build a research and production center for vaccines and medicinal serums at the Yachay University research park, north of Quito. According to Ecuador Foreign Minister Guillaume Long, the Russian commitment is part of the country’s efforts to attract foreign investment.
The new facility will develop and produce vaccines for the Latin American market, according to Long.
Long is in Russia to attend trade and economic development talks with other Latin American and Caribbean officials in Sochi.
The Russian laboratory and factory is the largest commitment to date for commercial operations in the new City of Knowledge associated with Yachay University. The Ecuadorian government is hoping to attract tech and bio-tech companies to the area in what it envisions as a Latin American version of Silicon Valley in California.
According to Long, the Russian labs will provide training to medical researchers in Ecuador and reinvest profits in new medical research projects. Russian project officials will visit the site of the new facilities in late November or early December to begin planning.
For more about the City of Knowledge, click here.