Singapore's Minister of State for Trade and Industry Lee Yi Shyan is currently on a week-long working visit to Russia that is partly aimed at unlocking new opportunities for business cooperation between the island city-state in southeast Asia, and Russia.
"Russian scientists can use this incubator to present their projects to venture capitalists and ensure their introduction to the market," the Singapore official said after a meeting with Russia's economics minister, German Gref.
Lee Yi Shyan said Singapore provided great opportunities for promoting Russian technologies, because it hosts more than 7,000 offices of transnational corporations and has access to at least $12 billion in venture capital.
Summing up the results of the meeting with his Singapore counterpart, Gref said Russia welcomed Singapore's involvement in Russia's special economic zone project in Yelabuga, in the Volga republic of Tatarstan and called for the signing of documents to stimulate the development of bilateral economic cooperation as soon as possible.
