Sep 19, 2009

Armenians keen on success

MM relates Spore’s experience in response to questions

By Leslie Koh

YEREVAN (Armenia): SHORTLY after Sir Stamford Raffles founded
Singapore in
1819, Armenian merchants made their way to its shores, seeing business
opportunities at South-east Asia’s newest port.
They went on eventually to make significant contributions to the young
city, setting up businesses, including the iconic Raffles Hotel, and
adding to
its economic, social and physical landscape.
Fast-forward to the present, the people of Armenia are once again
seeing opportunities in Singapore, but of a different sort: They want
to learn how it achieved its economic success, and how to apply it in
their country.
Their interest was reflected in the range of questions directed at
Minister Mentor Lee Kuan Yew on Friday.
The first Singapore leader to visit Armenia, MM Lee arrived in the
capital
Yerevan this week on the second leg of a three-country visit. He
started off in Britain on Sept 13, flew here on Sept 17, and leaves
for Russia on Saturday.
The Armenian media have credited the Minister Mentor for Singapore’s
economic miracle. At Friday’s meetings with the country’s leaders and
businessmen, the question of how Singapore had achieved its strong
economic growth came up repeatedly.
‘What are the key economic, political and social fundamentals, as well
as cultural driving forces, that Armenia needs to achieve similar
success to that which East Asia has experienced?’ asked one
businessman. ‘What is the role of the government in achieving
progress? Should it just be setting policies, or taking an active
role?’ asked another.
They likely saw similarities between the two countries. Armenia, a
landlocked country in Caucasus, has a small population of about three
million.
MM Lee posed a question in reply. ‘Where is your wider hinterland? Is
it your neighbours? Is it the CIS states of the former Soviet Union?
Or is it… Europe, America and other developed countries?’
‘I would believe that your best growth prospects would come from
leapfrogging the region… make your connections with Western Europe,
America and I would say East Asia, because that is the growth region
for the 21st century.’
Read the full story in Saturday’s edition of The Straits Times
leskoh@sph.com.sg

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