Sergey Levkin: Moscow continues to strengthen its position in World Bank Doing Business ranking
One of the indicators of the rating is dedicated to dealing with construction permits.
The Head of the Moscow Department of urban planning policy Sergey Levkin announced that our country has gained 115th position in terms of “Dealing with Construction Permits”, moving 4 points up as compared to the previous year. This was achieved due to reduction of terms for a number of procedures compulsory for developers. The result is that investors save their time and money reducing costs by 10%. For example, a developer who is building a warehouse in Moscow needs to pass through 14 procedures in 229.5 days, and the total cost of them will amount to 1.5% of the warehouse value.
Marat Khusnullin, Deputy Mayor for urban policy and construction of the city of Moscow:
We are satisfied with the fact that not only construction companies in Moscow, but also the foreign experts see the significant and systematic result of the work being done by the city authorities, which are aimed at improving the investment attractiveness of construction sector and reduction of the developer’s costs. Indeed, over the past five years we have managed to cancel redundant duplicative procedures in construction industry, as well as we have achieved the transparency of the procedures for their passage. We have focused on reforms aimed at facilitating for companies the collection of data necessary for elaboration of projects, as well as about the possibilities of connection to utility networks. I believe that these reforms have growth capacity for next year rating.