How did you decide to work with the EBRD and what do you expect to be the benefits of working with the Bank?

Funding for one of the Bank's projects in Kazakhstan comes from International Enterprise (IE) Singapore, the lead agency under the Ministry of Trade and Industry promoting the overseas growth of Singapore-based enterprises and international trade. Since 2005, IE Singapore has had a team dedicated to actively engaging with international organisations and development institutions to share Singapore’s developmental experience with other countries, largely in Asia.

The engagement with the EBRD began during the Russia–Singapore Business Forum held in Singapore in April 2008, where Thomas Maier, Business Group Director for Infrastructure, was present. Together we explored the possibility of Singapore working with the EBRD as a technical cooperation partner.
EBRD’s mission to use the tools of investment to build market economies and democracies in the region is very much aligned with IE Singapore’s mission to promote overseas growth of Singapore-based enterprises and international trade. By partnering with the EBRD, we will be able to help Singapore-based companies expand their foothold in Central Europe and Central Asia, while at the same time contributing to the Bank’s cause. For a start, we will be looking at opportunities in Kazakhstan.

What expertise will Singaporean consultants bring to the project?

Over the years, land-scarce Singapore has done relatively well in creating a thriving yet sustainable city for its people, balancing the impact of economic growth with urban and environmental needs. Singapore has built up extensive experience in urban solutions, including building a comprehensive, efficient and affordable public transport system and a network of smooth-flowing roads that support the economy and enable our people to move about easily, safely and reliably. In addition, we have developed a world-renowned public housing system as well as good infrastructure for water and wastewater management.

With the ability to customise and integrate solutions based on requirements, the expertise and experience of Singapore companies in urban solutions are now being exported to countries all over the world, from neighbouring south east Asia, to China, India and the Middle East. By collaborating with the EBRD, Singapore consultants and companies will be able to share their experience and apply the expertise gained from both Singapore’s development and from overseas projects, such as those implemented in Kazakhstan.

Which are your priority countries and how do you see the cooperation with the Bank in the future?

The European Union was Singapore’s second most important global trading partner in 2008, with total trade at S$104.3 billion, whilst Russia ranked 30th at S$3.8 billion and Central Asia ranked 43rd at S$1.7 billion.

Of these markets, Hungary, Kazakhstan, Poland, Turkey and Russia are currently countries where we see a match in opportunities with Singapore-based companies’ interests.

This first funding for an EBRD project marks the beginning of a long-term partnership between IE Singapore and the Bank. The partnership commences with a focus on Kazakhstan, and we hope this will be extended to other European cities, covering various sectors. Through this partnership, we hope to help build awareness of Singapore-based companies’ capabilities and play a positive role in helping the countries supported by EBRD to tackle infrastructure and technology-related challenges in their economic development.