Lee Yi Shyan in Tatarstan, Russia - Special Economic Zone in Elabuga shows promising start

MINISTER OF STATE LEE YI SHYAN IN TATARSTAN, RUSSIA – SPECIAL ECONOMIC ZONE IN ELABUGA SHOWS PROMISING START

Minister of State (MOS) for Trade and Industry Mr Lee Yi Shyan visited the Republic of Tatarstan and its Special Economic Zone (SEZ) in Elabuga on Monday, 16 October.

After visiting the Elabuga SEZ, MOS Lee said, “The people behind the Elabuga SEZ have the great vision of creating an SEZ on a “Work, Live and Play” concept with the focus on sustainable development. They have made a promising start by investing in key infrastructure and attracting a number of foreign investors into the SEZ. We are also impressed with their desire to create a pro-business environment. Singapore is honored to be able to play an advisory role to the Elabuga SEZ. To date, we have provided training to their senior SEZ officials who have found Singapore’s experiences very useful for their work”.

In Tatarstan, MOS Lee also visited the plant of Kamaz, the largest truck manufacturer in Russia and the petrol-chemical industries in Nizhnekamsk. MOS Lee will also meet with Prime Minister Rustam Minnikhanov, and Minister of Trade and Foreign Economic Cooperation Hafiz Salikhov.

Situated in the center of the largest industrial region in Russia, Tatarstan is considered as one of the most dynamic and fastest growing regions in Russia. The Elabuga SEZ is located in the north-eastern part of Tatarstan. It is close to important industrial centers such as Nizhnekamsk (petrol-chemicals industry) and Naberezhne Chelny (automotives industry and home to Kamaz).

MOS Lee’s visit to Tatarstan is the first stop of a week-long official trip to Russia. The visit will also cover Moscow and the Western Siberian city of Tomsk, where MOS Lee will visit the Tomsk SEZ. Under the MOU on Economic Cooperation in SEZs signed between Russia and Singapore on 14 August 2006, Singapore plays an advisory role to Russia on SEZs.

MINISTRY OF TRADE AND INDUSTRY, SINGAPORE
17 OCTOBER 2006

MOS Lee Yi Shyan (right) is briefed by the Head of the Elabuga SEZ, Mr Timur Shagivaleyev (center). 

MOS Lee Yi Shyan (right) receives a warm welcome from the people of Elabuga.