Singapore makes $200m direct investments in Moscow hi-tech sector

Singapore makes $200m direct investments in Moscow hi-tech sector
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Direct investments made by Singapore’s companies in economy of Russian capital city total approximately $200 million, the head of the Moscow Department for External Economic and International Affairs, Sergey Cheremin announced on Thursday.

“It’s crucial for us that these investments are high technology one, these are investments in mechanic engineering, electronics, IT-technologies, pharmaceutical industry and other areas. These are high-quality investments,” Sergey Cheremin told reporters following a business forum for bilateral cooperation between Moscow and Singapore, which is held on the 24th of November.

He noted that about 30 companies with Singapore’s capital were operating currently in Moscow. Singapore holds the 40th position among other partner countries of Moscow, as regards this parameter.

Apart from that, Cheremin stressed that Moscow was also interested in Singapore’s experience in establishing technological parks, technopolises, international financial center, as well as in the development of transportation system.