Nexign designated as a ‘systemically important’ part of the Russian ICT sector

Nexign announced that it has been designated a ‘systemically important’ company.

April 24, 2020

April 23, 2020, St. Petersburg, Russia: Nexign, (a part of ICS Holding) a leading provider of Business Support System and Internet of Things solutions to CSPs (communications service providers), announced today that it has been designated a ‘systemically important’ company by the Ministry of Digital Development, Communications and Mass Media of the Russian Federation.

The list includes 79 strategically important companies working in media, communications, and IT. It was put forward by the Ministry of Digital Development and approved by the Government Commission for Improving the Sustainability of the Russian Economy. Criteria for designation as a ‘systemically important’ company included revenue figures, as well as involvement in developing and implementing essential software, government information systems and public electronic services.

As the country continues to deal with the COVID-19 pandemic, these essential companies are anticipated to be offered increased support from the government if necessary, including better lending rates and government guarantees for projects such as new investments and refinancing.

Commenting on the list, Nexign’s CEO Igor Gorkov said: “Nexign’s designation as a ‘systemically important’ company is yet another guarantee of stability for our customers and partners. Maintaining our continuity of doing business with them is our top priority. Our infrastructure fully supports remote work and collaboration, and, thanks to our streamlined workforce management, development and implementation processes, we are well-placed to continue supporting our CSP clients, guaranteeing their customers access to reliable, effective means of communication.”