Meet the Russian risk takers making safe Singapore their home
As Moscow recalibrates its foreign policy to Asia, a ‘different breed’ of entrepreneur is embracing the Lion City’s neutrality and open-minded approach to business
At the entrance to the headquarters of global data protection firm Acronis, located in downtown Singapore, there is a life-size cardboard cut-out of Serguei Beloussov – the company’s founder and chief executive.
In the world of tech, the Russian-born entrepreneur is something of a celebrity. He built Acronis into a billion-dollar IT empire with offices in 18 countries. The firm also partners Formula One teams Scuderia Toro Rosso and Williams Martini Racing, its logo emblazoned on their racing cars. But few know the burly, blue-eyed boss is, in fact, Singaporean. “I have always wanted to be part of a country that is politically stable, focused on knowledge building and developing its economy in a non-invasive way,” says the 47-year-old, who became a Singaporean in 2001. “When you say you are Singaporean, you get a neutral reaction because the country is not politically aggressive. But you get a strong reaction when you say you are Israeli or Russian.”
“It is crucial to be neutral. It is a value that allows people to use Singapore as a base to do global business, even in times of calamity,” says Beloussov, who came to Singapore in 1994 when the electronics company he co-founded was dealing with trading partners there.
Like him, many Russians are setting up shop in Singapore and finding success – settling down with their families, starting businesses, even obtaining citizenship and making the city state home. Today, there are more than 4,500 Russians living in Singapore, according to the Russian embassy. In 2004, there were just 400.
Singapore and Russia will mark 50 years of diplomatic relations this year and both countries have much to celebrate. Ties have flourished in the economic sphere and Beloussov’s entrepreneurial spirit is exactly what Singapore hopes to cultivate.