Lim Kheng Hua: Moscow is Becoming More and More Attractive to Foreign Companies

The highlight of the Days of Moscow in Singapore has been a business forum on developing mutually beneficial cooperation. This brought together more than two hundred representatives of big business from two of the world’s biggest cities, as well as experts on town-planning policy, IT and finance.

The meeting was addressed by the leader of the Moscow Government delegation, Sergei Cheryomin, a minister in the Moscow Government and Head of the Department for External Economic and International Relations. He spoke about Moscow’s investment potential, and what it is doing to attract foreign investment to its infrastructure projects using public-private partnership arrangements.

“I ought to note with pride,” said Mr Cheryomin, “that in recent times we have seen a growth in the number of Singaporean companies becoming resident in Moscow: just two years ago, there were fewer than ten of them, but today as many as 25 are registered in our city.”

Addressing the forum, Singapore’s ambassador to Russia, Ms Lim Kheng Hua, said that with every year Moscow was becoming more and more convenient and attractive for foreign companies to work in, including ones from Southeast Asia.

“Today, I see great opportunities in Moscow for companies wanting to do business in Russia. The city is going through a cycle of rapid growth. In my last few years in the Russian capital, I have seen changes for the better. Moscow is becoming one of Europe’s most beautiful cities, comparable with Paris and London,” she said.

According to Ms Lim, Singaporean companies need to focus on Russia and Moscow as the latter represent a convenient market in their region. She also believes that Singaporean companies have “a real opportunity to build new partnerships in the Russian capital.”

Russia’s ambassador to Singapore, Andrei Tatarinov, reminded everyone that while relations between Russia and Singapore date back over half a century, the partnership between Moscow and Singapore was established in the 2000s. “I believe that Moscow and Singapore can and should work together to create a more comfortable environment for mutual development,” said Mr Tatarinov.

As part of the Days of Moscow in Singapore, Mr Cheryomin attended an expanded meeting of the Russia-Singapore Business Forum.