At the regular meeting of the Working Group for Improving the Investment Climate of Moscow, prorated until 2025, held on March 20, at the MCCI, some intermediate results for the implementation of the Investment strategy were reached.
As Mr. Dmitry Presnov, the first Deputy Head of the Department for Economic Policy and Development of Moscow said, in 2017, the total amount of investments in fixed assets reached almost two trillion rubles, with over 70 percent being non-budgetary funds. More than 70 percent of the targeted investment program is designated for the development of transportation infrastructure. In the next three years, the goal is to increase the volume of investments in fixed assets by 5-6 percent, which will allow not only to reinvigorate production assets, but to create new ones as well. According to Mr. Presnov, to accomplish this the development of three basic strategies are required: the formation of a favorable business environment, enhancement of infrastructure and optimization of supporting mechanisms.
Close attention is paid to the development of various online services for entrepreneurs. "Business should not be kept waiting", the representative of The Department of Economic Policy and Development of the City of Moscow emphasized. Regarding the infrastructure, the city attaches particular importance to the development of special economic zones, as well as the construction of transport and transfer hubs around the opening stations of the subway. Private investors have already been selected for the construction of 25 TPUs (transportation and transfer hubs). It is planned that capital investments in the next two years will amount to 150-200 billion rubles.
With regard to support measures, the city authorities purposely depart from providing singular benefits, substituting them with the assignment of classifications / status (Industrial complex, Industrial park, Anchor Resident of Techno Park, etc.). For example, obtaining the status of a resident of a Techno Park provides a reduction in the tax burden by almost 50 percent.
The Director of the City Investment Management Agency, Mr. Leonid Kostroma, spoke about enhancing the channels of communication with investors. He noted that the Investment Portal of the Moscow Government is visited by up to six thousand people each day, and about 20 percent of them are foreigners. Online services are being developed, with the main objective of facilitating the maximum participation in the auctions/tenders. "We would like to hear proposals from the business sector on how to expand this venue", Mr. Kostroma stressed. The city government is attempting to create the most favorable conditions for the purchase of land in the The special economic zone or the Free Economic Zone. SEZ: the redemption value of the land is only one percent of the cadastral value.
Mr. Yury Sharandin, the Senior Vice President of the Moscow Chamber of Commerce and Industry, suggested that the city authorities should pay attention to such a financial instrument as city bonds. In recent years, the total volume of their issue amounted to 140 million rubles. This amount, in comparison with the total investment of 2 trillion rubles, does not seem too significant, but, as Mr. Sharandin stated, "if we view the city as a corporation, then the induction of money by small businesses and individuals in the form of acquiring the city’s debt obligations should increase the "Emotional liquidity" of the city of Moscow. Many more people will regard the city with more consideration”, - the Senior Vice - President of the Moscow CCI believes, - “if the citizens’ incomes are directly connected to how the city looks, how it is preserved, protected and managed. It is not so much about finances, as with the rapport of Moscow’s inhabitants with the city’s authorities. We understand the complexity of the logistics, administration of this process, but we are sure that the discussion of this topic will revive the dialogue between the government and business. The MCCI, as a representative of small business interests, is interested in expanding this dialogue as much as possible".
During the meeting, a number of considerations were voiced as to which economic sectors can contribute to the development of the capital. The member of the Board of the Moscow Chamber of Commerce and Industry, the Head of the Russian Franchise Association, Ms. Agnessa Osipova, noted that the city should pay more attention to the development of franchising; in particular, it is possible to place a catalog of franchises on the Investment Portal, similar to the Business Navigator for SMEs.
Summing up the meeting, the Vice-President of the Chamber of Commerce and Industry, the Chairman of the Expert Council of the Headquarters for the Protection of Business, Mr. Suren Vardanyan, said that during the event a number of meaningful proposals were outlined. "All of them should be included in the minutes of the meeting and sent to both the Department of Economic Policy and Development of the City and the City Investment Management Agency. The Chamber is ready to prepare this document, so we are waiting for your suggestions in writing" - Mr. Vardanyan summed up.
The event was held with the support of the Government of Moscow and the Department for Economic Policy and Development of the City.