SINGAPORE: Former Minister Mentor Lee Kuan Yew on
Wednesday shared some key elements of Singapore's success in
attracting investments, which Russia can emulate.
Addressing the 7th Russia-Singapore Business Forum,
Mr Lee said key to attracting investments is to ensure the safety
and security of those who come to work here and their
families.
For Mr Lee, taking part in the Russia-Singapore
Business Forum is a regular affair, since he is familiar with
Russia's political and business climate from his many visits
there.
Mr Lee was asked what Russia could do to attract more
investments.
"You must have the least bureaucracy to prevent them from carrying
on their business. An investor who comes in... it is our duty to
help him succeed. When he succeeds, his friends will know about it
and they will also come in," said Mr Lee.
"Today, we have more multi-nationals in Singapore, in manufacturing
and R&D, services, in any field you like... We make the place
liveable, safe for foreigners and their children... therefore
(making it) easy for them to settle here and do business. If you do
the same in Russia, you will succeed," he added.
With Singapore's long-term population and manpower challenges in
the news, Mr Lee also spoke about the pace of admitting
foreigners.
"We are short of workers today. We have 5.2 million people of whom
1.5 million are foreign workers... We need more. Although they are
coming in at a slower pace, they are coming in," said Mr Lee.
There was also a suggestion that Mr Lee make his memoirs and books
available online.
While Mr Lee felt it is up to the publishers, the forum's
organisers said they hope to achieve it in a year's time.
- CNA/cc