Russian corp set a distribution network to increase high-tech products’ sales in Southeast Asia

SINGAPORE, Oct 26, 2019, Pan Pacific Agency. Shvabe Holding which is a part of the Russian state company Rostec signed an agreement with Progression Engineering Pte (S) Ltd. to establish an official distribution network for high-tech products promoting in the markets of Southeast Asia countries, the press service of Rostec told Pan Pacific Agency.

Agreement was signed in Singapore, on the sidelines of the Industrial Transformation Asia-Pacific (ITAP) 2019, the biggest Fourth Industrial Revolution (I4.0) event in the region. Distribution network will cover Singapore, Thailand, Indonesia, Vietnam, Malaysia, Cambodia, Laos, Myanmar, East Timor, Brunei Darussalam and the Philippines.

“Southeast Asia is one of the fastest growing and most promising markets for Rostec. The signed agreement of intent officially confirms the mutual interest of the parties in promoting modern Russian civilian products in the countries of this region. In the nearest future it is planned to sign a dealer agreement, which will start sales of Rostec products in Southeast Asia,” Nikolai Volobuev, deputy CEO at Rostec, said.

Russian pavilion at ITAP-2019, where more than 15 leading tech companies from country demonstrate high-tech products, was organized for the first time by the Russian-Singapore Business Council and the Ministry of Industry and Trade of the Russian Federation. Such companies as Roselectronika, Shvabe, Concern Avtomatika, RT-Techpriemka, consolidated by Rostec state corporation, present their products at ITAP-2019. Shvabe Holding develops and manufactures high-tech optical systems for military and civilian purposes, as well as optical materials, medical equipment, and energy-saving lighting.

The Russian-Singapore Business Council also organized a business mission to Singapore for a number of Russian companies, the press service of the Rostec informed.

“The key agenda of the mission includes localization of scarce foreign technologies in Russia in the civilian sectors, commercialization of Russian technologies in the Asia Pacific region, standardization and harmonization of product requirements in Russia and Asia Pacific countries, simplification of certification procedures, preparation and implementation of joint R&D and investment projects,” Sergey Pronin, Deputy Chairman of the Russian-Singapore Business Council, said RIA Novosti.

ITAP, the regional edition of the iconic Hannover Messe – the world’s leading trade show for industrial technology – offers various platforms for key stakeholders in the technological ecosystem to collaborate and exchange understanding of the future of manufacturing and the adoption of I4.0 solutions. It is organized by SingEx Exhibitions and international partner, Deutsche Messe with support from the Singapore government agencies such as A*Star, Economic Development Board Singapore, Enterprise Singapore, JTC Corporation and Singapore Tourism Board. About 350 exhibitors from more than 30 countries take part in ITAP-2019, Vietnam News reported.