Sergey Sobyanin: Moscow economy has overcome crisis and returning to growth

01.11.2016

Moscow’s economy has overcome the crisis and is now experiencing a revival, says the Mayor of Moscow Sergey Sobyanin in his annual report to the municipal parliament.

Sergey Sobyanin stressed the fact that in the first half of 2016 the investment activity in the capital continues is stepping up. According to the head of the city government, industrial production, electricity consumption and other key indicators of business activity are among the fastest growing. He also said that the inflation rate has markedly decreased in Moscow.

The recent World Bank’s “Doing Business” ranking has shown the boost of figures of Moscow in terms of “Dealing with Construction Permits” – Moscow improved its position by four points. Russia – in the name of its capital, where the measurements were taken – rose from 119th to 115th place.

It is to be recalled that for many businessmen the major world rankings plays a key role in selection of project and country for investment. Doing Business ranking is one of them. Each year, independent international experts of the World Bank assess the situation with administrative barriers in 189 countries around the world. The ranking is based on anonymous surveying of builders and developers and reflects the ease of doing business, including with regard to construction.

In Moscow, the number of procedures has dropped by more than 2.5 times – from 36 to 14. The index of procedures cost has decreased by 25%.

Five procedures were abolished in Moscow resulting in reduction of the total time required for procedures by 14.5 days, as well as their cost which was reduced by 10%. Thus, according to the report, the company which 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.

The Moscow City Government continues to focus on upgrading management in urban planning field, development of online services and e-services in construction, abandonment of requirements to submit documents which are available to the state bodies, as well as providing developers access to information on conditions and limitations of the area use, which can be found in the state information systems.

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