Crimea to create a kind of a Crimean Silicon Valley in the territory of the peninsula, Crimean Premier Sergey Aksyonov said.

He said such innovation hub would host advanced communications and microelectronics facilities, using experience and achievements of the Soviet-era periods.

“We can recall the productions of Photon television sets, ship-repair plants and shipyards, canned foods industry, agro-industrial gardening and greenhouse facilities, unique production of essential oil plants, etc,”- Rossiiskaya Gazeta newspaper quoted Aksyonov as saying.

Crimea was annexed by Russia in March, following Crimean referendum on peninsula’s status.

Note: Silicon Valley is a nickname for the southern portion of the San Francisco Bay Area of Northern California in the United States. Silicon Valley is a leading hub for high-tech innovation and development, accounting for one-third of all of the venture capital investment in the United States.