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THE MANUFACTURING AND TECHNOLOGICAL FLEXIBILITY OF VIC GROUP WAS APPRECIATED AT THE ST. PETERSBURG INTERNATIONAL ECONOMIC FORUM

At SPIEF-2021, VIC Group was named among the Russian companies that managed to quickly rebuild production facilities during the COVID-19 pandemic and master new technological projects.

At the "Technological Entrepreneurship and Commercialization of intellectual Property" session held within the framework of the Forum, it was noted that technological enterprises are of crucial importance for economic recovery after the coronavirus pandemic. At the same time, the active implementation of technological innovations in this business segment allows maintaining high revenue growth rates for a significant period of time.

Natalia Popova, First Deputy Director General of the non-state development institute "Innopraktika", presented cases of technology companies that have managed to work effectively in the context of the pandemic. VIC Group of Companies, engaged in the veterinary drugs production, is among these companies. It managed to quickly establish the production of products new for it – sanitizers, the demand for which has grown sharply. Other enterprises were also named that mastered the production of non-core products during this period - clothing for doctors of covid hospitals, technological medical beds, etc.

– When the COVID-19 pandemic comes to naught, these companies will be able to confidently find new niches and meet any challenges that appear in the economy, – the session participants noted.

 Dan Medovnikov, Editor-in-Chief of Stimul magazine, Director of the Innovation Management Institute at the National Research University "The Higher School of Economics", referring to the World Bank data, emphasized: "High-tech and fast-growing companies make up a small share of business in their countries - 4-10 %, but they create more than half of new jobs, they are the main drivers of GDP and non-commodity exports."

 The production of sanitizers by VIC Group was launched in hte context of strict deadlines, however, the high quality of the products ensured a confidently significant share of the sanitary protection products market.

 

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