Business in Moscow
Moscow's Economic Outlook
Moscow is the leading region of Russia in terms of economic size, population size and income because of the ability to fulfill social obligations and generally high budget growth rates.
It is the largest subject of Russia in terms of gross regional product (GRP): the capital accounts for 1/5 of the total GRP of the country.More than half of the operating credit institutions of Russia are concentrated in Moscow: the share of banks registered in the capital accounts for about 77% of all banking assets of the country.
Most of the head offices of leading domestic companies are located here, representative offices of international corporations, large financial organizations, as well as large-scale public sector and federal agencies are based here.
In international comparison, the capital of Russia is one of the largest urban economies in the world: it ranks fourth among megacities in terms of GDP (in terms of purchasing-power parity).
Moscow is one of the three European cities in terms of consumer spending and is one of the twenty largest consumer markets in the world.
The main drivers of the Moscow economy are: construction, transport, industrial sector and innovative industries.
The development of transport infrastructure and construction is inextricably linked with the activities of factories and plants. The enterprises of the capital amount to billions of rubles of investments and hundreds of new developments and research per year.
Now there are more than 3,000 industrial enterprises concentrated in Moscow, over 700 of them are large and medium-sized. In total, more than 700 thousand people are employed in the Moscow industry.
About 500 new industrial enterprises have started operating in the capital only in the last 5 years, more than 30% of them operate in high-tech industries.
Particular attention is paid to enterprises that have received special status: they receive the most significant benefits that allow them to direct the money saved on paying taxes and rent to scientific research and expansion or modernization of production.
The Special Economic Zone (SEZ) "Technopolis Moscow" was created in 2005.
And 91 high-tech enterprises have the status of a resident.
Special status:
42 technology parks are objects of innovative infrastructure of the city of Moscow, key points of growth of technological entrepreneurship, created on the basis of industrial enterprises, scientific organizations or as part of the implementation of investment projects.
64 industrial complexes – this status can be obtained by enterprises of the scientific sphere and manufacturing industries.
13 investment priority projects (IPP) are new projects for the creation of technology parks, industrial parks, industrial complexes, objects in the field of education, culture and art (7 of them are technology parksunder construction).
Another priority of Moscow is the development of innovations and the creation of an ecosystem in the city that would ensure the cooperation of various companies among themselves and with the city authorities. For this purpose, the Moscow Innovation Cluster was created. The key task of which is to promote the creation of new innovative projects.
Cluster programs help to attract investments and to find partners.
There are 1,400 innovative projects in the cluster database.
206 federal and regional support measures are available to cluster participants and partners.
Source: https://en.investmoscow.ru