Results of the largest business mission of Russian companies to Singapore (December 2017)
on the results of the Russia-Singapore Business Council*
business mission to the Republic of Singapore (December 2017)
*Detailed information on the business mission and the results of agreements reached following the meetings can be obtained upon request from the Russia-Singapore Business Council representatives (firstname.lastname@example.org).
In 2016-2017 a bilateral trade between Russia and Singapore has grown substantially, a turnover of Russian companies through Singapore with third countries has increased even more. Singapore’s investments in the projects of Russian regions have been raised several times. The 50th anniversary of establishment of diplomatic relations between Singapore and Russia (as successor state to the USSR) will be celebrated in 2018. In this regard, increased attention was paid to the bilateral relations, including certain activities, enhancing a partnership between Russia and Singapore, such as this business mission, aimed at strengthening the position of Russian companies in the markets of Southeast Asia.
The executives of the Rostec State Corporation, the Moscow Government and the Ministry of Industry and Trade participated in the business mission. The delegation was headed by CEO of the Rostec State Corporation Sergey Chemezov. The Deputy Minister of Industry and Trade of the Russian Federation Oleg Bocharov and the Minister of the Moscow Government, Head of the Department for External Economic and International Relations Sergey Cheremin also took part in the business programme.
Within the framework of the first day of the business mission on December 11, 2017 the Business Forum “Promotion of Groundbreaking Russian Engineering and Solutions” was held. The event included presentations of Russian and Singaporean experts, while the total number of the Forum participants exceeded 120 people. During the Forum a series of short talks were delivered among others by infrastructure companies Meinhardt Group and Swan & Maclaren on the infrastructure development of the city of Moscow.
The Forum resulted in signing of the cooperation agreements between the Center for foreign promotion of high-tech companies, established on the basis of the Singapore company Progression Pte. Ltd., with such Russian enterprises JSC Russian Helicopters, JSC KRET, JSC RT-Chemcomposite and JSC ONIIP.
On December 12-14, 2017 Russia-Singapore Business Council organized meetings with the representatives of Singapore business and government agencies including IE Singapore, Singapore Cooperation Enterprise, Economic Development Board and others.
Also the visit of the executives of the Rostec State Corporation to ITE – the Institute of Technical Education of Singapore – took place. ITE has repeatedly been for the past three years among the top three vocational education institutions in the world and is recognized as the best in Asia. As a part of the visit Memorandum of Understanding in the sphere of vocational education was signed between the Rostec State Corporation, the Moscow Government, the Russia-Singapore Business Council and ITE. The document covers a creation of the Center for Training and Certification of Personnel in Moscow, where the best foreign educational practices will be adopted. In the context of the project the competence and experience of ITE in the field of professional development and talent audit will be used. The Center’s mission will be training, retraining, advanced training and independent certification of personnel for innovative industries related to laser and additive technologies, IT, telecommunications, robotics, engine manufacturing, aviation equipment service, etc.
The top-management representatives of the aviation cluster of the Rostec State Corporation visited the Association of Aerospace Industries (Singapore), where the Association of Aviation Producers, recently established in 2017 in Russia for furthering the development, production and sales of its member-companies’ products in the markets including Southeast Asia countries, was presented to Singapore side. At this meeting an exchange of the best practices, an experience of creating and developing associations as well as key areas of cooperation were highlighted. The executives of the Association of Aerospace Industries (Singapore) invited Russian aviation companies to visit the largest in Asia Singapore Airshow on February 6-11, 2018 and ask to elaborate by this event the issue of signing an agreement on cooperation between Russian and Singaporean associations, as well as a roadmap for the development of Russia-Singapore bilateral relations in the aerospace industry.
Furthermore, a visit of the Rostec State Corporation representatives was made to the Singapore Center for 3D Printing of the Nanyang Technological University (SC3DP). Within the scope of the visit the research capacities of the university were demonstrated, and the meeting was held with the executives of the center along with the top-manager of the National Additive Manufacturing Innovation Cluster (NAMIC). The Russian party received an invitation to the International Conference on Progress in Additive Manufacturing, which will be held on May 14-17, 2018 in Singapore. This conference will be coincided with the 6th annual international competition in 3D printing.
Within the framework of the business mission representatives of the aviation cluster – JSC Technodinamika, JSC KRET and JSC “Aviation service center “Aviation equipment” as well as the State Research Institute of Civil Aviation GosNII GA held a meeting with the local company Prescient Systems & Technologies, which is a part of one of the largest corporation in Singapore – Singapore Technologies Engineering Ltd. During the negotiations a localization of innovative development of aviation simulators in Russia along with a cooperation in the sphere of promotion of the products of aviation cluster in Asia were discussed. The Rostec holding companies also held a meeting with the management of Singapore Composite Cluster, which is engaged in research and development in the field of composite materials, and visited the Center for Composite Materials of the Nanyang Technological University. The head of the Aerospace division of the Economic Development Board of Singapore presented the aerospace industry in Singapore. Moreover, the meeting was held with the worldwide supplier of aviation parts, such as BSB Aviation.
The top-management of the Rostec State Corporation conducted business visits to the leading companies in the sphere of security in Singapore – AETOS and ST Kinetics. The meetings resulted in the reached agreements to expand cooperation in the field of technology transfer and exchange of the best practices.
A review seminar on the macroeconomic and financial situation as well as the peculiarities of conducting financial affairs in Singapore as the investment center of Asia was held for the participants of the business mission at the Bank of Singapore.
Within the programme of the business mission the introductory meetings with Singapore companies, involved in the development of local technology parks, such as Surbana Jurong and Ascendas Singbridge were held. The executives of the largest private Moscow Technopark “Kalibr” took part in the meetings. With the support of the Business Council in Singapore the potential residents of the new building of the Technopark “Kalibr” were found.
A number of meetings on cooperation in the sphere of microelectronics and high technologies in healthcare were organized for the executives of the holding companies and radioelectronic cluster of the Rostec State Corporation primarily with the management of Key ASIC and United Crest Healthcare.
Russia-Singapore Business Council has acted as a co-organizer of the first “Cambodia – Eurasian Economic Union” Business Forum in December 2017. It was also organized by the Ministry of Commerce of the Kingdom of Cambodia in cooperation with the Eurasian Economic Commission. Welcome remarks were given by Minister of Commerce of the Kingdom of Cambodia H.E. Mr. PAN Sorasak, President of Cambodia Chamber of Commerce Neak Oknha KITH Meng and Member of the Board for Integration and Macroeconomics of the Eurasian Economic Commission H.E. Ms. Tatiana Valovaya.
As a result of the business mission a roadmap for events and negotiations for 2018 was drawn up. The Russia-Singapore Business Council is planning a range of events in Singapore in April 2018, including the 3d annual business forum “Russia-Singapore Business Dialogue”. The Singapore party is ready to work with Russian companies, and the level of trust in Russian enterprises increases with each new visit, with every new contact.