RUBEN VARDANIAN: "SINGAPORE IS A CONVENIENT COUNTRY IN WHICH TO LIVE AND WORK"

103rd MERIDIAN EAST speaks to Ruben Vardanian, CEO of Troika Dialog, the largest private bank in Russia and CIS, following the Russia-Singapore Business Forum (RSBF) 2009.

Mr Vardanian, what attracts Russian businessmen and investors to Singapore?

Singapore is a constantly transforming country, which has never applied only one formula for success. Initially, it was a port, later it placed its stakes on electronics and pharmaceutics; now, it is private banking. Singapore's secret is in its changes. According to recent research, the city-state is becoming more open and humane. Yes, the government may punish, but the rules of the game are clearly stated. The government is the guarantor of everything running smoothly. Singapore's airport is highly efficient; in the city, there are numerous malls, hotels and offices. The Singapore of today is a convenient place in which to live and work.

What makes the latest RSBF 2009 different from the previous three?

The dynamic is obviously positive and gaining speed. Russia is becoming a country which Singaporeans know of and strive to know more about. In Russia, we get partners not only from Singapore now, but from other Asian countries, too. For instance, here at the Forum, a member of the Japanese parliament and an Indian representative delivered speeches. The idea of establishing Singapore as a hub where entrepreneurs from the region come to meet their Russian counterparts is starting to work.

Because of the economic crisis, this year's Forum had initially been cancelled. However, we are all here today, though six months later. What made it possible?

Regularity is vital: it is important that people get used to the thought that the Forums is an annual event. Last March was a difficult month for Russia, when most businessmen tended not to travel. September seemed a much better choice, mostly thanks to the Singapore Formula One Singapore Grand Prix. The Forum's organisers found an excellent format, excellent timing and excellent combination of business with other possibilities.

Are you a fan of F1?

No.

What allowed for the geographical expansion of the Forum's attendees?

One person: Michael Tay! Without him, there would have been nothing. Projects materialise provided that they have a leader. Although Michael was helped by Sberbank, Troika Dialog and a number of Singaporean companies, he was the one who had led and took all the responsibility. Michael Tay is to the RSBF what Lee Kuan Yew is to Singapore.

What is the most striking success story shared by both Russia and Singapore?

I believe it is the cooperation between Troika Dialog and Temasek Holdings.