Singaporean ambassador tours Alabuga industrial zone

Ambassador Extraordinary and Plenipotentiary of Singapore to Russia Simon de Cruz has today toured the Alabuga special economic zone in Tatarstan, to see in person the business opportunities offered to its tenants, says Alabuga’s press service.

During the tour, a presentation of the zone, that offers investors most favourable terms for establishing companies, was held.

The Russian special economic zones agency’s territorial chief Igor Nosov presented the customs, industrial and business infrastructure, designed to create a favourable business climate for the tenants. According to Mr Nosov, Alabuga could provide an excellent opportunity for Singaporean companies to enter the Russian market, including partnership with local firms.

The State Advisor to the President of Tatarstan on International Affairs Timur Akulov expressed expectation of establishing and continuing cooperation.

The Singaporean ambassador displayed a significant interest in the Alabuga zone, for such zones are a point of effective cooperation between Russia and Singapore. Alabuga, Russia’s largest industrial zone, was built based on the Singaporean special zones expertise.

Singapore built its first zones in 1960 and has over the few decades made a huge leap in terms of economic development. It is now one of the world’s leaders in high technologies. In 2007, the Singapore’s Minister Mentor Lee Kuan Yew, recognised as “the father of the Singapore economic miracle”, visited Alabuga and praised it. “I am impressed with the progress achieved over one year. It is an indicator of growth and success,” he said.

Over the past few years, specialists from Russian Special Economic Zones’s Tatarstan division have attended educational programmes, held within a memorandum of understanding between the governments of Russia and Republic of Singapore on economic cooperation in the field of special economic zones.

In the conclusion, the guests toured the premises of one of Alabuga’s tenants, Polimatiz, to be put into operation in the near future. The company is to manufacture nonwoven fabric and products based on it.

The Singaporean ambassador shared his impressions from the visit. “Since Minister Mentor Lee Kuan Yew toured Alabuga, a lot has changed. The infrastructure is nearly completed, and the list of international residents is striking. You offer great opportunities to the tenants. I am looking at the zone and I realise it is to be greatly successful.”

The parties agreed that Mr de Cruz’s visit to Tatarstan was to be foundation for further effective cooperation and exchange of experience between Russian and Singaporean special economic zones.