Month: August 2020

The company was lauded for the development of vCargo Cloud’s CamelONE™* platform.

Leading infocomm technology (ICT) solution and service provider vCargo Cloud, bagged the Singapore Business Review National Business Awards for Trade Technology. The awards programme aims to honour exceptional local businesses in Singapore and give recognition to their outstanding initiatives.

vCargo Cloud (VCC) is a specialist in offering trade and logistics related solutions to governments and enterprises worldwide. Led by a team of dedicated IT and logistics experts, VCC revolutionises the trade and logistics industry through designing and providing a platform—CamelONE™. This consists of a suite of interconnected modules to simplify the complexity of international trade, including compliance and documentation.

Currently, in the market, no companies have solutions that cover the whole cross-border trade ecosystem which therefore is unable to facilitate end-to-end cross-border trade process.

VCC aims to simplify global trade, especially for small and medium enterprises (SME). To do so, they developed a holistic platform that can connect stakeholders such as shippers, logistics service providers, government authorities and financial institutions onto an integrated platform to facilitate procurement, logistics, compliance, and financing for global trade.

The CamelONE™ platform allows stakeholders to connect and exchange digitised information seamlessly. This connection and ecosystem is said to simplify and enable a seamless end-to-end cross-border trade process, thus simplifying global trade.

After analysing the market situation, VCC adopted the UN/CEFACT “Buy-Ship-Pay” reference model and developed the CamelONE™ platform. This is said to have reduced logistics costs by 10%-15% for SME shippers.

It has also increased productivity and reduced reliance on manpower for logistics service providers and facilitates access to trade finance facilities that SME businesses would otherwise may not have access or be eligible for financing.

Under the category of buy services, CamelONE provides services covering commercial activities relating to the ordering of goods. These services are also integrated into CamelONE Ship and Pay Services for logistics and financial services to support the trade executed.

Furthermore, the CamelONE eCargo marketplace under the ship services acts as a digital logistics platform for service providers to offer their services and manage their operations. The platform is also connected to the National Single Window of several countries to facilitate cross-border compliance and enables transferring of data of commercial documents.

Moreover, the latest addition to this platform CamelONE Trade Finance, facilitates the provision of financial services under the pay services. It is a one-stop multi-bank portal which simplifies trade finance applications through a single interface.

VCC said it aims to eventually form a worldwide ecosystem to integrate the whole supply chain and to keep bringing more efficiencies as well as cost savings for stakeholders in the ecosystem.

Source: https://sbr.com.sg/co-written-partner/more-news/vcargo-cloud-bags-sbr-national-business-awards-trade-technology

Singapore is set to mark its’ 55th Birthday on 9 August this year.
2020 has shown to be the most difficult and unpredictable year from the last several decades. The unusual complex mix of economic, geo-political, social factors and events caused by COVID pandemic has been set in motion. Some common views and things we have taken for granted have been challenged. We have also displayed some unbelievable levels of adjustability, recognising the “unknows” and accepting the new norms to our lives.
Having said so, I feel exceptionally grateful to the Singapore Government for all the levels of support and protection it has provided during the past several months.
Singapore has been benefiting from the consistently competent administration for several decades. 55 years back, the newly born country, worried about the viability as a nation on a tiny island with no natural resources or adequate water supply, a population of nearly 2 million, and no defence capability of its own in the face of a military confrontation by a powerful neighbouring country. Singaporeans and their leaders however, made the grade. The transformation of the Singapore economy over the past five decades has been impressive, producing rapid economic growth and delivering extraordinary improvements in social welfare. During that period, Singapore has evolved into a developed economy with multiple engines of growth including globally competitive manufacturing clusters, one of the world’s pre-eminent financial and transportation centres, and the location for regional and global headquarters of major corporations. I have personally witnessed the steadily growing Singapore’s success throughout all ten years I have lived and worked in this country.
Now, deep in the crisis of a generation, the country is even more in need of the experienced guidance of the administration. And I feel confident about it. Singapore has already commenced gearing up for uncertainties with future economic strategies. To overcome the crisis, the Government has intervened through four successive Budgets to protect workers, households and companies. Singapore’s efforts in its fight against Covid-19 has been recognised by the World Health Organisation in its efforts to build hospital capacity to deal with a surge, perform contact tracing and isolate patients, which many countries in the rest of the world abandoned very early.
Singapore’s strengths are in its racial harmony, history, meritocracy, economy and governance with emphasis on maintaining security, law and order. For the country to continue to run efficiently and effectively, it needs the unity and resilience of its people and a continued trust in the government to lead the nation through the challenging times.
Despite 2020 being a challenging year for Singapore, the small nation has always kept space for celebrations.
The National Day Parade has always been one of my favourite celebrations in Singapore. I enjoy feeling those vibrations amplified by thousands of Singaporeans unified by their love for their country. It’s a manifestation of the Nation’s pride and power. This year however, it will be a smaller affair focused on safety and dedicated to frontline workers. I am still looking forward to watching it through the screen of my TV this time.

Happy Birthday Singapore and many glorious and successful years ahead! We trust in you.
Stay safe,
Serguei EDRENKINE

The Russia-Singapore Business Council (RSBC) and the Representative Office of Rossotrudnichestvo in the Republic of Singapore (Representative Office) confirmed their interest in cooperation in the preparation and implementation of programs and events in order to strengthen the positive image of the Russian Federation in Singapore, as well as to promote the interests of the Russian Federation abroad in the field of culture , science and education.

On August 6, the Parties signed a Cooperation Agreement. On the part of the RSBC, the Agreement was signed by the Deputy Chairman – Executive Director Sergey Pronin, on the part of the Representative Office – Representative of Rossotrudnichestvo in the Republic of Singapore Aleksandr Soloviev.

“We see a huge potential for launching joint projects in Southeast Asia, primarily in the field of humanitarian cooperation, in the field of education,” commented Sergey Pronin.

“The implementation of joint projects will serve the development of international contacts aimed at popularizing the Russian language and Russian culture, and will also allow developing activities to expand cultural, scientific and business cooperation,” said Aleksandr Soloviev.

The Agreement was signed at the Center for Foreign Promotion of Russian High-Tech Companies and the Presentation of Investment Projects in Singapore, which was created on the initiative of the RSBC with the support of the State Corporation Rostec in 2017 and is a key platform for promoting Russian technologies in the region. Currently, renovation is being completed at the Center for Foreign Promotion, which will significantly expand the possibilities for launching projects in various areas.