<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>Singapore firms urged to invest in Russia
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Francis Chan
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PHOTO: IE SINGAPORE
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->SINGAPORE firms are being urged to consider business opportunities in Russia, where multibillion dollar deals are on offer despite the economic crisis.
These projects, according to trade agency International Enterprise (IE) Singapore, include Russia's infrastructure development needs, which are estimated to have a total value of about US$1 trillion (S$1.46 trillion).
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>INFRASTRUCTURE DEALS ON OFFER
'Regional and municipal governments, federal agencies and private enterprises in Russia are now actively seeking foreign funds to invest in infrastructure projects.'
IE Singapore assistant chief executive Kathy Lai
</TD></TR></TBODY></TABLE>'Regional and municipal governments, federal agencies and private enterprises in Russia are now actively seeking foreign funds to invest in infrastructure projects,' said IE Singapore assistant chief executive Kathy Lai.
She was speaking to about 100 local business owners at the Doing Business in Russia seminar held at IE Singapore's Bugis Junction premises yesterday.
She said viable projects on the table include deals in e-government solutions, environmental services, transport and power management, as well as township and industrial park establishment.
'Today some of our Singapore companies have stakes in hotel and service apartment projects,' she added.
Geographically the largest country in the world, Russia possesses vast natural resources such as crude oil, natural gas, metals and other minerals.
The country also has arguably the largest consumer market in Europe with a population of more than 140 million.
Ms Lai said the Russian federation remains a key economic partner of Singapore, with bilateral trade reaching $3.8 billion last year. This makes the country Singapore's 30th largest trading partner.
Singapore's key exports to Russia is comprised of machinery, ships and floating structures, plastics and medical apparatus.
Rising levels of disposable income among its population have been creating new opportunities for Singapore businesses, said IE Singapore.
These revolve mainly around consumer goods such as food items, furniture and apparels.
Ms Lai said that while many Singapore-based firms, including those from the aviation, hospitality and electronics sectors, are already doing business in Russia, more local companies are being sought after by its government.
Russian chancellor Konstantin Topliskiy said that despite the downturn, Russia still recorded US$12 billion in foreign investments over the first quarter of this year.
He said: 'Although the amount is certainly smaller than last year, it still suggests that foreign partners have maintained confidence in the Russian market's favourable prospects, as well as its post-crisis restoration and growth.'
Mr Topliskiy, who is based in the Russian Embassy here, added that Russia's Federal Antimonopoly Service had already received about 60 clearance requests from foreign investors - several involving the restructuring of Russian strategic assets such as in mining and transport engineering.
'As a result of the deals planned, new owners expect to make the assets more competitive and clear the problems arising from the current recession,' he said. He added that he hoped to see more Singapore companies doing business in Russia, especially in smaller provinces and regions that are much closer to Singapore than Moscow and St Petersburg.
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Francis Chan
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
PHOTO: IE SINGAPORE
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->SINGAPORE firms are being urged to consider business opportunities in Russia, where multibillion dollar deals are on offer despite the economic crisis.
These projects, according to trade agency International Enterprise (IE) Singapore, include Russia's infrastructure development needs, which are estimated to have a total value of about US$1 trillion (S$1.46 trillion).
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>INFRASTRUCTURE DEALS ON OFFER
'Regional and municipal governments, federal agencies and private enterprises in Russia are now actively seeking foreign funds to invest in infrastructure projects.'
IE Singapore assistant chief executive Kathy Lai
</TD></TR></TBODY></TABLE>'Regional and municipal governments, federal agencies and private enterprises in Russia are now actively seeking foreign funds to invest in infrastructure projects,' said IE Singapore assistant chief executive Kathy Lai.
She was speaking to about 100 local business owners at the Doing Business in Russia seminar held at IE Singapore's Bugis Junction premises yesterday.
She said viable projects on the table include deals in e-government solutions, environmental services, transport and power management, as well as township and industrial park establishment.
'Today some of our Singapore companies have stakes in hotel and service apartment projects,' she added.
Geographically the largest country in the world, Russia possesses vast natural resources such as crude oil, natural gas, metals and other minerals.
The country also has arguably the largest consumer market in Europe with a population of more than 140 million.
Ms Lai said the Russian federation remains a key economic partner of Singapore, with bilateral trade reaching $3.8 billion last year. This makes the country Singapore's 30th largest trading partner.
Singapore's key exports to Russia is comprised of machinery, ships and floating structures, plastics and medical apparatus.
Rising levels of disposable income among its population have been creating new opportunities for Singapore businesses, said IE Singapore.
These revolve mainly around consumer goods such as food items, furniture and apparels.
Ms Lai said that while many Singapore-based firms, including those from the aviation, hospitality and electronics sectors, are already doing business in Russia, more local companies are being sought after by its government.
Russian chancellor Konstantin Topliskiy said that despite the downturn, Russia still recorded US$12 billion in foreign investments over the first quarter of this year.
He said: 'Although the amount is certainly smaller than last year, it still suggests that foreign partners have maintained confidence in the Russian market's favourable prospects, as well as its post-crisis restoration and growth.'
Mr Topliskiy, who is based in the Russian Embassy here, added that Russia's Federal Antimonopoly Service had already received about 60 clearance requests from foreign investors - several involving the restructuring of Russian strategic assets such as in mining and transport engineering.
'As a result of the deals planned, new owners expect to make the assets more competitive and clear the problems arising from the current recession,' he said. He added that he hoped to see more Singapore companies doing business in Russia, especially in smaller provinces and regions that are much closer to Singapore than Moscow and St Petersburg.
