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Singapore And Russia Strengthen Ties With Business Incubator |
Date: 01/02/2007 |
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(L-R): Mikhail Rytchev, Deputy Head, RusSEZ; Andrey N Rozhkov, Ambassador Extraordinary and Pelenipotentiary of the Russian Federation to the Republic of Singapore; Ko Kheng Hwa, Managing Director, EDB; Loh Wai Keong, Deputy Secretary, Ministry of Trade and Industry; and Ivan Bortnik, Director General, FASIE.
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The Singapore Economic Development Board (EDB) and Russia's Federal Agency for Management of Special Economic Zones (Rus-SEZ) and Foundation for Assistance to Small Innovative Enterprises (FASIE) recently signed a protocol of intentions (POI) to establish a Russian business incubator in Singapore.
This is the first Russian business incubator outside its borders and it will further pave the way for increased trade, economic, technology and investment linkages between Russia and Singapore. A key focus is on science, technology and engineering capabilities and products that have potential in the international markets.
The companies will leverage Singapore's vibrant ecosystem of diverse enterprises, pro-business environment, sophisticated manufacturing capabilities and extensive linkages to the world to grow as well as commercialise their products and services. The partnership will also promote Russian R&D and engineering services to the world through Singapore.
This new initiative builds on the Memorandum of Understanding (MOU) the two countries signed in August 2006 to provide advice and share expertise in Special Economic Zones.
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