Interest of investors is growing

23.09.2019

On September 16, Moscow Deputy Mayor for Economic Policy and Property and Land Relations, Vladimir Efimov, spoke about the growth of the investment attractiveness of the capital.

Moscow is implementing a package of measures to increase investment attractiveness. It is rather difficult to single out one solution. We strive to create a full-fledged ecosystem that could as much as possible cover every area of ​​business for entrepreneurs, and, therefore, the services that our city residents use. Starting this work, we first of all emphasized the reduction of administrative barriers. We tried to convert all the public services provided by the city into electronic form. At the same time, we significantly reduced the time for the provision of these services and made clear and transparent the regulations that describe the interaction of business and the city. This, of course, affected the assessment of investors in a positive way. In addition, we have built close relations with federal state authorities and are trying to resolve issues that arise among investors not only in relation to our organizations, but also to federal ones.

So far, difficulties remain with the conversion of some services to electronic form, because not all services we can provide fully remotely, resting on the technological capabilities of a number of federal authorities. But I am sure that this is a matter of time, and within six months or a year we will solve it.

Real estate investment is one of the most significant. And the important question that has always been raised is the connection to gas supply networks. As part of the work to improve the investment climate, we have reduced the time for connecting to electric grids by a factor of five; we have carried out similar work regarding heat and water supply. They made understandable and transparent the interaction of investors with resources. We also paid special attention to the shadow sector – these are investments that we do not see, it is an economy that does not work for the common good, but for specific companies or individuals.

We carried out large-scale work on the legalization of the retail trade market, non-stationary trade.

If we take it as a percentage of the gross regional product, then the informal sector was 20 percent, and we reduced this indicator at least twice. And there is still room for improvement. With the introduction of a new generation of cash registers, new tax regimes, for example, for the self-employed, we see that this sector is gradually emerging from the shadows.

As for urban planning policy, we focus on creating jobs that are a source of finance for the city’s economy. This is a source of attracting new technologies, which is reflected in the financial situation of both the city budget and company budgets. I note that each measure taken has contributed to the development of the investment climate. In the future we plan to expand the tools that we use now.