On October 7th, the Moscow City Duma adopted two key Bills, defining further conditions for development of business in the capital : "On industrial policy of the City of Moscow" and the "Investment policy of the City of Moscow and Government support for entities involved in investment activity".
The objectives of the Bill "On industrial policy of the City of Moscow” are the preservation of the existing support measures for stakeholders in industry, creation of new manufacturing production, developing new industries, ensuring production of competitive industrial products, modernization of manufacturing infrastructure, increasing the value of the assets of entities involved in the industry, increasing productivity.
As noted by the editor of the Bill, the Head of the Department of Science, Industrial Policy and Entrepreneurship, Oleg Bocharov, the work on this document was largely innovative, and the project was widely discussed in the metropolitan business community.
The Bill defines the basic concepts and delineates the powers of the executive authorities of Moscow for the development of manufacturing activities, establishes measures for stimulating financial and property incentives in the industry.
Special attention in the law is devoted to the support of industrial and engineering centers, technology and industrial parks, integration of enterprises into industrial clusters.
The legislation also defines the powers of the executive branch for the development of industrial activities, refines the concepts of "industrial park", "technopark in the sphere of high technologies", "resident", "anchor resident."
The Moscow Chamber of Commerce and Industry, from the very beginning, actively participated in the work on the Bill. It was posted on the website of the Chamber and the business community of the capital was invited to send their proposals to the MCCI.
Then all incoming reviews were discussed during two words and parliamentary hearings with the heads of relevant departments of the Moscow City Government.
As a result, almost all proposals of the MCCI relating to rent benefits , businesses property taxes , etc., have been taken into account by the Government and included in the list of amendments adopted in the final version of the Bill on industrial policy.
On the same day, the Moscow city Duma adopted the law "On investment policy of the City of Moscow and Government support for entities involved in investment activity".
As noted by the project's editor, the Minister of the Moscow Government, the Head of the Department of Economic Policy and Development of the City of Moscow, Maxim Rešentnikov, the urgency for the adoption of this legislature for the City of Moscowi is due to the lack of legislation systematizing rules, governing the procedures and conditions for the provision of measures of the State support for entities engaged in investment operations.
Its main objective is to create a favorable investment climate, increase investment activity, provide the conditions for import substitution and create new jobs.
The provisions of the law will cover both existing industrial complexes and emerging new businesses. The law introduces the notion of "Priority Investment Project of the City of Moscow”; defines the principles of investment policy, the relevant powers of the Government of Moscow, support measures and compensation for the risks to investors.
The Bill also takes into account that the Priority Investment Project is recognized as a priority if it conforms to certain requirements, i.e.: creation of new, highly skilled jobs, implementation of the project in one of the priority branches of the city's economy , creation of businesses aimed at production within the framework of import substitution, reorganization and modernization of obsolete production facilities.
Assigning the status of Investment Priority Project will be carried out individually by the Interdepartmental Commission of the Government of Moscow.
The subjects of innovation and industrial infrastructure, whose projects will be considered as priority, will receive the status of a resident anchor management company of a technological or industrial park.
State support of investment activity will be implemented through the provision of tax concessions, grants (including research and development), as well as the inclusion of products in the List of priority products and technologies used in the industries of municipal economy.
Source: Moscow City Duma