The volume of direct foreign investment in Moscow amounted to more than $ 260 billion, said Vladimir Yefimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.
“According to the Bank of Russia, the volume of accumulated foreign direct investment in Moscow as of January 1, 2020 amounted to $ 260.2 billion, which is almost half of all foreign investment in the country,” Efimov said.
According to him, the largest investments in the capital’s economy came from investors from Germany, France, Finland, Italy, Austria and the USA.
“Most often, foreign business invests in companies that are engaged in financial and insurance activities, in trade, in the industry and high technologies, as well as in real estate,” the deputy mayor said.
According to the press service of the economic complex of the capital, at the moment many foreign enterprises have already localized their production in Moscow, including the plant of the French Renault group, the plant of the German concern KSB, the French group of companies Orpea Group, the Swiss company Bartholet Maschinenbau AG.
The head of the department of investment and industrial policy of the capital, Alexander Prokhorov, noted that foreign investors, along with Russian ones, enjoy concessions and preferences from the city. “Projects with the attraction of foreign investment contribute to the development of the city and provide Muscovites with jobs, therefore, to support new investment projects in industrial production, the city provides incentives for taxes on profits, property, land, as well as rent for land plots,” said Prokhorov.
Reported by “RIA Real Estate” https://ria.ru/20200611/1572794575.html