IE S'pore to partner EBRD to explore opportunities in emerging markets
- POSTED: 23 Sep 2013 14:49
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International Enterprise (IE) Singapore is partnering the European Bank for Reconstruction And Development (EBRD) to explore opportunities in emerging economies in Europe and central Asia.
SINGAPORE: International Enterprise (IE) Singapore is partnering the European Bank for Reconstruction And Development (EBRD) to explore opportunities in emerging economies in Europe and central Asia.
At the IE Global Conversations event on Monday, IE Singapore and EBRD signed a memorandum of understanding to identify project opportunities in emerging markets within Europe as well as central Asia, primarily Russia and Turkey.
There projects are likely to be in sectors such as information and communications technology, municipal and environmental infrastructure, power and energy, transport and urban development (including smart cities and eco-cities).
Sir Suma Chakrabarti, the president of EBRD, said the medium to long-term outlook for emerging countries in Europe and central Asia like Kazakhstan, Poland, Russia and Turkey, remain positive despite current economic volatilities.
Improvements in the Eurozone, efforts by the governments and proximity to the Eurozone are expected to help sustain the stability of these emerging markets.
Meanwhile, Singapore companies' expertise and capabilities are complementary to the developmental needs of these economies in emerging Europe and central Asia. These markets also hold pent-up demand for high-quality products and services that are often supplied by foreign companies.
Chief executive officer of IE Singapore, Teo Eng Cheong, said, "The investment environment there is favourable for our companies, with its highly-skilled, well-educated workforce and enterprises.
"IE Singapore will partner the EBRD to help Singapore companies capture opportunities through funding and facilitating business collaborations. Companies can tap into our combined assistance, extensive experience and strong network to navigate the complexities and challenges of emerging Europe and central Asia."
Sir Suma added: "Singapore companies have the right set of skills to raise standards and transfer expertise to these markets as they develop.
"The EBRD's project financing, good understanding of local business environments as well as strong relationships with key authorities and local enterprises within Europe and central Asia, will benefit Singapore companies."
25 senior representatives from Singapore companies in the financial, food, technology, trade and urban solutions sectors participated in the business dialogue on Monday.