Rostec to open a promotion center for high-tech products

From December 11 through December 14, 2017, heads of Rostec State Corporation and companies forming part of it will take a business trip to Singapore. The trip is aimed at building up business contacts in order to increase the presence of Rostec's civilian products and technologies on the markets of Southeast Asia. The delegation will be headed by Rostec' CEO Sergey Chemezov.

As part of the business mission which is focused primarily on cooperation in the development of state-of-the-art industrial technologies, meetings with the representatives of the Government of the Republic of Singapore, the Singapore Business Federation (SBF) and heads of the largest corporations and enterprises are planned. Besides, it is planned to conclude a number of cooperation agreements, visit technology parks and educational institutions where world-class specialists are trained.

During the business trip, a presentation of the Center for Promotion of Russian High-tech Companies which is to open in Singapore will take place. The Center is to become a place of constant presence of the Corporation and its enterprises in the region, and the place for showcasing Russian high-tech products. Its services will include promotion of high-tech products, services, projects, a search for investors and establishment of organizations for international cooperation for tackling different issues related to business. Besides, on the premises of the Center, industrial expositions related to IT, aviation, radio electronics, etc. will be organized.

"Southeast Asia is one of the fastest growing regions in the world, and it is certainly a priority one for the Corporation. We see that our colleagues from Asia are greatly interested in our products, and this is why we are increasing our presence there," said CEO of Rostec State Corporation Sergey Chemezov. "In this regard, Singapore is an ideal place as an established technology, financial and logistics hub. I am confident that opening of the Center will give a new impetus for the development of trade and economic relations between Russia, Singapore and countries in the Southeast Asia."

The business trip is organized by the Russia-Singapore Business Council. During the events, it will present an information and service B2B platform RSTrade; its updated version contains information on the products of more than 80 thousand Russian enterprises, including all key holding companies and enterprises of the Corporation.

As part of the visit on December 11, the Russia Singapore Business Forum (RSBF) on the topic "Promotion of Russian Advanced Technologies" attended by the management of Rostec State Corporation, the Ministry of Industry and Trade of the Russian Federation, the Government of Moscow and the National Research Foundation (NRF) of Singapore will take place.

Rostec Corporation is a Russian corporation that was established in 2007 to facilitate the development, production and export of high-tech industrial products designed for civilian and military applications. The Corporation comprises over 700 organizations that are currently part of eleven holding companies operating in the military-industrial complex and three holding companies working in civilian industry, as well as 80 directly managed organizations. Rostec's portfolio includes well-known brands such as AVTOVAZ, KAMAZ, Concern Kalashnikov, Russian Helicopters, VSMPO AVISMA, UralVagonZavod, etc. Rostec companies are located in 60 constituent entities of the Russian Federation and supply products to the markets of more than 70 countries. In 2016 the consolidated revenue of Rostec reached 1 trillion 266 billion rubles, while the consolidated net income and EBITDA amounted to 88 and 268 billion rubles respectively. In 2016 the average salary in the Corporation was 44 thousand rubles. According to Rostec's strategy, the main objective of the Corporation is to ensure that Russia has a technological advantage in highly competitive global markets. Rostec's key objectives include the introduction of a new techno-economic paradigm and digitalization of Russian economy.

The Russia Singapore Business Council was founded in 2009 on the initiative of the Chamber of Commerce and Industry of the Russian Federation with the support from the Ministry of Economic Development and Rostec State Corporation. Its members include large and medium-sized Russian enterprises in the non-resource-based sector. The mission of the Council includes mainly the development of business contacts and mutually beneficial cooperation between Russia and Singapore entrepreneurs, enhancement of the role of the interested members of the Russian business community in formation and implementation of the state policy in the sphere of Russian-Singapore economic relations, and organization of constructive dialogue between Russia and Singapore business circles.?