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During the meeting the parties discussed the issues of economic cooperation in agri-business. The meeting took place on October 25th, 2018.

The leading dairy producer of the Penza region, ‘Rusmolko’, has established cooperation with the international Singapore-based company ‘Olam International’ since 2012. Within the framework of the joint project 'Rusmolko’ pursues two lines of growth - dairy farming and crop farming.

During his welcoming speech, the Penza governor noted that the friendship and business links between the Penza region and the Republic of Singapore are strong and continue to develop.

‘Our cooperation spans across different areas in trade, economy, education, and culture. Special attention should be drawn to the results in agri-business cooperation. In 2012 'Rusmolko’ and Singapore corporation ‘Olam International’ started their joint project in dairy and crop farming. The results of this cooperation are evident. 'Rusmolko’ has now become the leading dairy producer in Russia,’ stressed Ivan Belozertsev.

‘The modern dairy farms in Narovchat, Nizhny Lomov and Kuznetsk district are now working with 19,000 heads of cattle. The milk yield is one of the highest in the RF,’ he also said.

Governor of the Penza region mentioned good crop yield of grain and pulse crops, grown by ‘Rusmolko’. He highlighted the benefits of the mutual cooperation and investments into the agri-business.

The governor promised to provide further support to the business initiatives of Singapore investors in the Penza region and create favourable conditions for efficient work.

Dr Koh Poh Koon said that he had heard a lot of positive feedback on the Singapore company investment in the Penza region, but only now he was able to appreciate the scope and the results of these cooperation, which are undoubtedly impressive. The Senior Minister of State of the Singapore government thanked the governor of the Penza region for the active support of joint projects and assured that the mutually beneficial co-operation will continue to grow.