vCargo Cloud – Russia Singapore Business Council

Business mission of Russian companies to Singapore came to end

On June 17-21, the Russia-Singapore Business Council held in Singapore a regular business mission of leading Russian high-tech companies. The mission was headed by Nikolay Volobuev, Deputy CEO, State Corporation Rostec & Chairman, RSBC. The mission was timed to the exhibition CommunicAsia-2019 and I Russian Film Week in Singapore.

The Russian delegation included representatives of such holdings and enterprises of Rostec as Ruselectronics, Concern “Sozvezdie”, Russian Helicopters, Technodinamics, RT-Komplektimpeks, Kamaz, as well as the management of Technopark Innopolis, the National Compliance Association, the international Prisma association, etc. Negotiations were held with local business associations, members of which are potential partners, distributors and suppliers for holdings and enterprises of the Corporation and members of the RSBC. In particular, negotiations were held with the Association of Radioelectronic Industry of Singapore, the Singapore Association of Semiconductors, the Singapore Association of Telecommunication Technologies, etc. The parties agreed on points of cooperation and strengths of Russia and Singapore, which will result in joint integration projects in the future, similar to the integration of RSTrade and CamelONE platforms. The leaders of the Singapore associations were invited to take part in the Innoprom-2019 industrial exhibition.

Members of the Russian delegation visited Singapore’s largest national Agencies: Singapore Economic Development (EDB), Singapore Business Development (ESG), Singapore Experience Sharing (SCE), as well as with the Singapore Business Federation (SBF). The key agenda of the talks with the agencies included topics and projects that will be discussed at the upcoming meeting of the High Level Russia-Singapore Intergovernmental Commission, which will be held in Vladivostok in September 2019. There was reached an agreement on a joint organization of a business mission of the Singapore companies by RSBC and the SBF. The mission will be timed to the meeting of the Intergovernmental Commission and the Eastern Economic Forum. At the meeting with SCE, members of the delegation discussed the model for initiating international G2G projects by private companies, and with EDB – opportunities for participation of foreign companies in Singapore tenders.

At the meeting with SingEx (the Singapore equivalent of the Roscongress Foundation) there was discussed the cooperation of RSBC and the company in promoting the Russian enterprises of Rostec at SingEx events, including the 2018 Industrial Transformation Asia Pacific, which will be held on October 22-24, 2019 in Singapore . The international partner of the event, Hannover Messe, is the largest international exhibition of industrial technologies, which is a window to the future for thousands of visitors. Hannover Messe has become a global platform for topics such as Industry 4.0, energy efficiency and intelligent networks. It is the most important platform for technologies related to industrial transformation in the West, where the concept of the fourth industrial revolution came from. The regional analogue in Asia is the Industrial Transformation Asia Pacific 2019 exhibition.

The business mission also included a number of educational events. On June 18, a seminar for representatives of the management of a number of holdings of the State Corporation Rostec was held at the Centre for Overseas Promotion of Russian High-Tech Companies and the Presentation of investment projects. The seminar was focused on the key aspects of procurement practice and the latest approaches to its implementation. The speaker was Fabian Wang, a prominent expert in the field of procurement management with more than 20 years of experience, an international expert, one of the most demanded in this field. The next day, a similar event for Singapore entrepreneurs was held at the Centre. That was a seminar of the Director for Procurement of Rostec State Corporation, Tatiana Gololobova, dedicated to the participation of foreign companies in government procurement in the Russian Federation. Such events, which are organized and held by the Russia-Singapore Business Council with the support of the State Corporation Rostec and other members of the Council, help to improve mutual understanding and intensify interaction between representatives of expert communities and business circles of Russia and Singapore, which is important when building long-term and long-term cooperation. These aspects are of particular relevance owing to the forthcoming conclusion of an agreement on a free trade zone between the EAEU and Singapore.

The Russia-Singapore Business Council seeks to establish interaction not only between business and expert, but also between cultural circles of Russia and Singapore. Simultaneously with the business mission of Russian enterprises in Singapore, there took place the Russian Film Week with the participance of such prominent filmmakers as Fedor Dobronravov, Vladimir Grammatikov, Alexander Kovtunets and Pavel Chukhrai. The opening ceremony and film screenings were attended by more than 3,000 spectators in total. Among them were residents of Singapore, tourists and diplomats.

Business, educational and cultural events held in Singapore on June 17-21 seriously contributed to the development of Russia-Singapore relations and made clearer the prospects for further cooperation. In addition to preliminary agreements on working on joint integration projects and organizing future business missions, there was made a decision on further cooperation in the field of culture. So, in view of the big success of the I Russian Film Week, it was decided to make this event annual. In addition, in October-December 2019 and in February 2020, with the support of the State Corporation Rostec, sport and cultural events will be held in Singapore, dedicated to the tenth anniversary of the Russian-Singapore Business Council.

Russia-Singapore Business Council and vCargo Cloud hold talks with EPINDUO

Russia-Singapore Business Council and vCargo Cloud held tripartite negotiations with representatives of EPINDUO, the largest platform for the sale of Russian goods in China, on the fields of SPIEF-2019.

During the negotiations, various areas of possible cooperation were discussed. In the B2B segment, the Chinese side was most interested in the presentation of products of Chinese manufacturers on the RSTrade platform, especially products of the manufactutrers that belong to the Sirius group, i.e. specializing primarily in the field of energy and electronics. In the B2C segment, the use of logistics tools for the integration solution of the RSTrade and CamelONE platforms for the supply of food to China from Russia was discussed.

The prospects for cooperation in the field of engineering and manufacturing, including contract manufacturing, were also negotiated. The Chinese side expressed interest in expanding the existing cooperation with enterprises of the State Corporation Rostec and other Russian companies specializing in the production and supply of equipment for the power industry, solar energy and biotechnology.

EPINDUO is a leading Chinese company selling Russian goods. Its cooperation with the Russia-Singapore Business Council and vCargo Cloud might become a new stage in the development of digital cross-border trade on the EAEU-China-ASEAN route.

Desmond Tay took part in in the discussion “EAEU-ASEAN”

On June 8, on the final day of SPIEF-2019, the EAEU-ASEAN business dialogue was held. Within the framework of the discussion, possible prospects for partnership between the EAEU and ASEAN were discussed, taking into account the opportunities offered by the Memorandum of Economic Cooperation, signed in November 2018. The possibilities and advantages that the EAEU opens up for business development, attracting foreign partners and investments, prospects for the development of trade between the blocks, as well as problems and challenges facing the development of trade and business interaction between the EAEU and ASEAN countries were examined.

Desmond Tay, co-founder and CEO of the Singapore-based company vCargo Cloud, took part in the discussion. Russia-Singapore Business Council actively cooperates with vCargo Cloud in the integration of the Russian trade and service B2B platform RSTrade and the logistics platform CamelONE, which is managed by vCargo Cloud and currently controls 12% of the logistics services market in Southeast Asia.

In his speech, Mr Tay noted the importance of digital platforms for the private sector, i.a. for companies involved in trade between the EAEU and ASEAN. In his opinion, government and supra-government structures in both regions should promote and encourage such initiatives. As an example of a digital platform that can contribute to the effective interaction of two units in the field of digital commerce, Mr Tay cited the platform RSTrade.

Mr Tay noted that the three key areas in the operation of any digital platform were compliance, logistics and the financial sector. In the case of compliance, this refers to the active interaction of platforms with government agencies and organizations, primarily with the customs services of various countries. In the field of logistics, the key task is to reduce transportation costs. Tools of the financial sector also need to be developed and optimized – for example, recently there has clearly been a tendency to abandon traditional bulky tools, such as a letter of credit, in favor of financial technologies (FinTech).

At the end of his speech, Mr Tay stressed that digital platforms could be of great importance for small and medium-sized businesses in terms of improving their competitiveness.

Russia-Singapore Business Council and Non-commercial partnership “International Association of Developers, Manufacturers and Users of Medical Equipment” signed the Cooperation Agreement

Russia-Singapore Business Council and Non-commercial partnership “International Association of Developers, Manufacturers and Users of Medical Equipment” (IAMT) signed a Cooperation Agreement.

The Agreement was signed within the SPIEF-2019.

The parties agreed on cooperation in order to promote the products of IAMT using the resources of the trade and service information B2B platform RSTrade. A digital specialized catalog will be created on the Platform in accordance with the classifier of medical equipment provided by IAMT.

IAMT unites organizations working in the field of medical devices circulation. At present, organizations – members of IAMT produce in total more than 8000 items of medical devices. IAMT actively cooperates with the Ministry of Industry and Trade, the Ministry of Health of the Russian Federation, Roszdravnadzor, the Chamber of Commerce, as well as with medical institutions of the Russian Federation and other countries. The use of the resources of the platform RSTrade, integrated with the Singapore logistics platform CamelONE, will open IAMT wide opportunities to enter the markets of Southeast Asia and Asia-Pacific countries.

Sergey Pronin and Desmond Tay joined the EASTBOUND jury

On June 6-7, 2019 the second pitch session of the open international competition of start-ups EASTBOUND has been held within the SPIEF. The competition is aimed on supporting the efforts of Russian technology companies to enter international markets. June 7 has been announced as the Day of Southeast Asia. Participants of the competition – young Russian startups in the field of artificial intelligence – have presented their projects to potential investors from Singapore and other SEA countries. The jury of the competition has included Sergey Pronin, Deputy Chairman – Executive Director, Russia-Singapore Business Council, and Desmond Tay, CEO, vCargo Cloud.

Among the projects submitted to the competition have been developments involving the use of information technologies and artificial intelligence in various fields, such as the construction industry, marketing analysis, digital commerce and banking, etc.

The members of the jury have highly appreciated the submitted projects. They have also noted the importance of supporting similar initiatives for their introduction to international markets.

Interview of Sergey Pronin and Desmond Tay to RBC TV Channel

On June 7, 2019 Sergey Pronin (Deputy Chairman – Executive Director, Russia-Singapore Business Council) and Desmond Tay (CEO, vCargo Cloud) gave a joint interview to RBC TV Channel.

Mr Pronin and Mr tay told about the model for promoting Russian technoloies in the Asia-Pacific region. The model is based on the combination of two ways of the presence of Russian companies in Asia – physical and virtual. The virtual way is possible through the work of RSTrade and CamelONE platforms.

Trade and service information B2B platform RSTrade is operated by the executive structure of the Russia-Singapore Business Council. For today more than 80 000 companied from 23 countries are represented on the Platform. Singapore platform CamelONE specializes in providing logistics services and controls 12% of the logistics market in Southeast Asia. The decision to integrate the platforms was made at the end of 2018, and at the moment we can talk about the successful completion of the first phase of the project. The next step should be the integration of banking and insurance services. The integrated interface will allow transferring the entire transaction process to digital space, from purchasing goods to door-to-door delivery, which is a step towards full automation of trade flows between the EAEU and ASEAN.

Physical presence of Russian companies in Asia is provided by the Centre for Overseas Promotion of Russian High-Tech Companies and the Presentation of investment projects in Singapore. The Centre provides support to Russian companies in search for local partners and promotion to the markets of Southeast Asia. An important aim is to find partners in Singapore and other countries identifying prospects for the development of mutually beneficial cooperation. A permanent exhibition of the showroom of Russian technologies has been launched in a format of Digital Experience Centre. In the future it is planned to create similar centers in other countries of the Asia-Pacific region, primarily in Korea and Japan.

For reference

RBC is the largest non-state media holding in Russia, including the eponymous television channel, magazine, newspaper and news agency. RBC has traditionally focused on topical business information, positioning itself as an information platform for business representatives.

Platform RSTrade represented at the booth of the State Corporation Rostec

State Corporation Rostec actively participates in SPIEF-2019. Key projects of the Corporation within the framework of the implementation of National projects have been presented at its booth.

One of such initiatives is a digital platform RSTrade, which facilitates implementing target indicators of the National Project “International Cooperation and Export”.

Platform RSTrade is operated by RSTradehouse LLC – executive structure of the Russia-Singapore Business Council, established at the initiative of Rostec. Russian Export Centre included RSTradehouse LLC the list of agents for facilitating the withdrawal of Russian companies to the markets of ASEAN countries.

Platform RSTrade is fully developed in Russia. It is integrated with he the State Industry Information System and with CamelONE international electronic platform (operated by vCargo Cloud, Singapore). To date, more than 80 thousand companies from 23 countries are represented on the Platform. The development of RSTrade contributes to the implementation of the National Project “International Cooperation and Export”, solving the tasks of expanding the range of Russian non-resource-based exports and including a larger number of companies in foreign trade, creating additional opportunities for the development of international cooperation involving Russian industrial and transport enterprises as well as service providers. Within international projects, the resource of the integrated solution of RSTrade and CamelONE gives an opportunity for cooperation between companies from the EAEU, Russia and Asia.

Participation of Sergey Pronin and Desmond Tay in the strategy session “Strategy for the Future of the Eurasian Economic Union”

On June 6, 2019, within the framework of SPIEF-2019, was held a strategic session “Strategy for the Future of the Eurasian Economic Union”. The discussion was devoted to the influence of the latest trends, such as the digital transformation of the economy and the formation of a high-tech and innovative Eurasian space, on the prospects for further development of the EAEU.

Among the announced participants was Desmond Tay, co-founder and CEO of the Singapore company vCargo Cloud. Together with VCC Russia-Singapore Business Council is currently implementing a project on integration of trade&service and logistic digital platforms. Mr Tay and Sergey Pronin (Executive Director, RSBC) presented the project details to Viktor Christenko, Chairman, the EAEU Business Council, and Koh Poh Koon, Senior Minister of State, Singapore. Viktor Christenko and Koh Poh Koon welcomed the decision and said that they had been monitoring its implementation and were supporting joint bilateral initiatives.

Russia-Singapore Business Council and vCargo Cloud met with the Japan Trade Association with Russia and the Newly Independent States (ROTOBO)

A tripartite meeting of the Russia-Singapore Business Council, vCargo Cloud and the Japanese Association for Trade with Russia and the Newly Independent States (ROTOBO) was held at SPIEF-2019.
The negotiations were held by Sergey Pronin (Deputy Chairman – Executive Director, Russia-Singapore Business Council), Desmond Tay (co-founder and CEO, vCargo Cloud) and Saito Daisuke (head of the ROTOBO Moscow office).
The main outcome of the meeting was an agreement on the mutual exchange of information on the production and technological capabilities of companies from Russia and Japan, as well as on the involvement of third countries, primarily Singapore, in Russian-Japanese cooperation. The key tool for this will be the digital platform RSTrade (operated by the executive structure of the Russia-Singapore Business Council) and its integrated solution with CamelONE platform (operated by vCargo Cloud).
The parties agreed to provide the tools of an integrated solution based on RSTrade in the information resources of the association. The platform RSTrade, in turn, will contain information about Japanese companies and their products and services. In addition, it was decided to hold a joint event in Japan in 2020 to introduce Russian business.
The Japanese side expressed interest in building multi-transaction chains with business associations from other regions, including the countries of the EAEU and the EU, using the Platform’s tools for this purpose.

For reference
The Japanese Association for Trade with Russia and the Newly Independent States (ROTOBO) has existed since 1967 (until the collapse of the USSR, it was called the Japanese Association for Trade with the USSR and Eastern Europe). This association is the only organization in Japan that promotes business cooperation between Japanese enterprises and the former socialist states of Eurasia. ROTOBO’s partner countries are Russia, Ukraine, Belarus, Moldova, Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, Tajikistan, Azerbaijan, Armenia, Georgia and Mongolia. ROTOBO includes almost 200 members, including trading companies, enterprises of various industries, banks, fund companies, industry associations, agencies for the transport of passengers and goods, as well as local governments. ROTOBO enjoys a well-deserved reputation in business circles and is closely associated in its activities with government organizations both in Japan and in partner countries.

The decision to integrate the Russian trade and service information B2B platform RSTrade and the Singapore logistics platform CamelONE was made at the end of 2018. At the moment, the first integration stage has been successfully completed, and the banking and insurance services are also expected to be in the future. The integrated interface will allow transferring the entire transaction process to digital space, from purchasing goods to door-to-door delivery, which is a step towards full automation of trade flows between the EAEU and ASEAN. According to estimates by Bloomberg, the RSTrade and CamelONE integration solution for the automation of international trade and international multimodal transport may have global importance in the near future.

Announcement of the Russia-Singapore Business Council events at the SPIEF-2019

The St. Petersburg International Economic Forum (SPIEF-2019), one of the most important events in the world of economics and business, will be held on June 6-8, 2019 in St. Petersburg. The Forum is rightfully considered to be one of the leading platforms for communication between representatives of the business community, where economic issues that have not only national, but also global importance are discussed.

Experts and partners of the Russia-Singapore Business Council will take an active part in the work of the Forum.

Below you can find a list of key events for the Business Council at SPIEF-2019.

JUNE 6

Strategy session “Strategy for the Future of the Eurasian Economic Union”

Within the framework of the strategic session, it is planned to discuss the prospects for further development of the EAEU, taking into account the attention now paid to the formation of high-tech and innovative Eurasian space, the digital transformation of economies and stimulation of business activity. Desmond Tay, co-founder and CEO of the Singapore-based company vCargo Cloud (VCC), will speak at the session. VCC and the Russia-Singapore Business Council are successfully implementing a project to integrate two platforms: the B2B trade and service platform RSTrade, which is operated by the executive structure of the Council – RSTradehouse LLC, and CamelONE logistics platform, operated by VCC. The integrated interface will allow transferring the entire transaction process to digital space, from purchasing goods to door-to-door delivery, which is a step towards full automation of trade flows between the EAEU and ASEAN.

Negotiations with the Japanese Association for Trade with Russia and the Newly Independent States (ROTOBO)

One of the most important tasks of the Business Council is the development of mutually beneficial cooperation between the business circles of Russia not only with Singapore and ASEAN countries, but also with all states of the Asia-Pacific region, primarily with Japan – one of the recognized world leaders in high technologies.

Representatives of RSBC will discuss the prospects of cooperation between Russian and Japanese manufacturing companies with Mr. Saito Daisuke, the head of the Moscow office of the Japanese Association for Trade with Russia and the new independent states (ROTOBO). This association is the only organization in Japan that promotes business cooperation between Japanese enterprises and the former socialist states of Eurasia.

Signing of the Cooperation Agreement with the National Association of Technology Transfer (NATT)

The agreement provides for cooperation between RSBC and NATT in establishing effective communication between expert communities and business circles of the Russian Federation and the Republic of Singapore in the field of developing technology transfer.

Signing of the Cooperation Agreement with the Non-Commercial Partnership “International Association of Developers, Manufacturers and Users of Medical Equipment

The subject of the agreement will be cooperation in order to promote the products of the Partnership using the trade and service information B2B platform RSTrade. A special digital specialized catalog will be created on the Platform in accordance with the classifier of medical equipment provided by the Partnership.

Negotiations with the Association of Small and Medium-Sized Exporters of Russia

The subject of negotiations will be mutual information exchange and support in promoting joint projects, including the promotion of digital B2B Platform RSTrade to the markets of Russian regions.

JUNE 7

Signing of the Cooperation Agreement with NOVIKOMBANK

The agreement provides for cooperation in the sphere of joint development and use of the infrastructure of the Russia-Singapore Business Council in Russia and Singapore, including the digital information and service B2B Platform RSTrade. The services of “NOVIKOMBANK” will be integrated into the platform interface. It is planned to implement joint projects on formation of new digital financial services. The parties seek to consolidate existing, as well as search and develop new long-term partnerships in Southeast Asia.

EASTBOUND competition

The second pitch session of the open international competition of start-ups EASTBOUND will be held on the margins of the Forum. The goal of EASTBOUND is to support the efforts of Russian technology companies to enter international markets. Participants in the competition – young Russian startups in the field of artificial intelligence – will be able to present their projects to potential investors from China and Singapore. The jury, which is going to investigate startups focused on Southeast Asia, will incude Sergey Pronin, Deputy Chairman – Executive Director, Russia-Singapore Business Council, and Desmond Tay, CEO, vCargo Cloud.

The competition is held jointly with Skolkovo and Roskongress foundations with the participation of a number of foreign partners.

Interview of Sergey Pronin and Desmond Tay to RBC TV Channel

In his interview, Sergey Pronin, Deputy Chairman – Executive Director, Russia-Singapore Business Council, and Desmond Tay, CEO, vCargo Cloud, will talk about new horizons of business cooperation, which opens up the development of information technologies, as well as present a joint project of the Russia-Singapore Business Council and vCargo Cloud to integrate RSTrade and CamelONE platforms operated by these organizations.

JUNE 8

Desmond Tay participating in the discussion “EAEU-ASEAN”

Within the framework of the discussion, possible prospects for partnership between the EAEU and ASEAN will be discussed, taking into account the opportunities offered by the Memorandum of Economic Cooperation, signed in November 2018. The possibilities and advantages that the EAEU opens up for business development, attracting foreign partners and investments, prospects for the development of trade between the blocks, as well as problems and challenges facing the development of trade and business interaction between the EAEU and ASEAN countries will be examined

The discussion will be attended by representatives of business circles and large business associations. One of the speakers will be Desmond Tay, CEO, vCargo Cloud.

At the exhibition stand of the State Corporation Rostec, one of the initiators of the creation and active member of the Russia-Singapore Business Council, guests of the forum can familiarize themselves with the interface of the international information and service B2B Platform RSTrade.

Platform is fully developed in Russia. It is operated by the executive structure of the Russia-Singapore Business Council – RSTradehouse LLC, which is included in the list of agents of the Russian Export Center for facilitating the withdrawal of Russian companies to the markets of ASEAN countries.

Platform RSTrade is integrated with the the State Industry Information System and with CamelONE international electronic platform (operated by vCargo Cloud, Singapore). To date, more than 80 thousand companies from 23 countries are represented on the Platform.

The development of RSTrade contributes to the implementation of the National Project “International Cooperation and Export”, solving the tasks of expanding the range of Russian non-resource-based exports and including a larger number of companies in foreign trade, creating additional opportunities for the development of international cooperation involving Russian industrial and transport enterprises as well as service providers. According to estimates by Bloomberg, the RSTrade and CamelONE integrated solution for the automation of international trade and multimodal transport may have global importance in the near future.