Foreign investors have invested almost 270 billion dollars in the Moscow economy

December 25, 2021
Economy and entrepreneurship

From January to June 2021, the accumulated volume of foreign direct investment in Moscow economy increased by seven percent and amounted to 268.5 billion dollars.

“Foreign investors are showing a steady interest in Moscow industry. Today, Moscow accounts for half of all accumulated foreign investments in Russia. According to the Central Bank latest data, as of 1 July 2021, their volume reached 268.5 billion dollars. Thus, investors from Germany invested 8.7 billion dollars in the city's economy, France - 4.9 billion dollars, Finland - 4.3 billion dollars, the United States - 3.7 billion dollars, Italy - 3.6 billion dollars,” Vladimir Efimov, Deputy Moscow Mayor for Economic Policy and Property and Land Relations, said.

Asian countries are also investing in Moscow economy. This region is a major strategically important partner of Moscow. Over the six months of this year, Singapore invested 2.2 billion dollars in Moscow, Japan - almost 2 billion dollars, Kazakhstan - 1.6 billion dollars, the Republic of Korea - 970 million dollars, China - 907 million dollars.

As a rule, foreigners invest in financial and insurance companies, in commerce, in industry and high technology, as well as in real estate.

In addition, many foreign enterprises are localized in Moscow. The factories Coca-Cola HBC Russia and PepsiCo, German enterprises Siemens, Phoenix Contact RUS, Hyperglobus, British manufacturers Unilever, Diageo, British American Tobacco operate. American pharmaceutical companies Abbot Laboratories, Johnson & Johnson, Lilly Pharma, Pfizer have their offices in Moscow.

Alexander Prokhorov, head of the Investment and Industrial Policy Department, noted that the first in Russia plant of the German concern KSB for the production of pumps and pumping equipment operates in Moscow. The Concern supplies products to Mosenergo and Mosvodokanal, plays an important role in the technical equipping of engineering equipment at such facilities as the Moscow Oil Refinery, Moskvarium, Moscow-City. The plant opened in 2019 and is mainly equipped with Russian machines. The production has created 110 jobs.

“The Moscow Renault plant has the highest level of production localization among foreign car manufacturers operating in Russia. The enterprise was opened in 1998, today it is a full-cycle production of vehicles, where welding, painting and assembly shops operate. The plant has launched the production of such mass models as Logan and Duster, as well as the popular crossovers Kaptur and Arkana,” head of the department cited another example.

Photo by Vladimir Novikov, Press Service of the Mayor and Moscow Government

Enterprises with foreign business participation

Japanese heavy engineering corporation IHI Corporation and PJSC Plant named after I.A. Likhachev created Alpha Automotive Technologies. The company produces in Moscow the components for motor vehicles. The volume of investments in the project within the framework of a special investment contract signed with Moscow government is more than two billion rubles.

The Chinese CRCC company is developing investment projects for the construction of Moscow metro. In 2017, it signed an agreement with Mosinzhproekt JSC to participate in the construction of three sections of the Big Circle Metro Line with the Aminyevskoye Shosse, Michurinsky Prospekt and Vernadsky Prospekt stations. CRCC is also building a section of the new Kommunarskaya metro line with the Ulitsa Generala Tyuleneva, Tyutchevskaya, Mamyri stations and a running line to Kommunarka station.

In addition, Chinese manufacturer of electrical equipment CHINT Electric, ZTE company, which specializes in wired and wireless communications and manufactures telecommunications equipment and mobile phones, as well as car dealers Changan, Foton, and Haval operate in Moscow.

Investment in medicine

Artem Barashev, director of Moscow investment management agency, said that foreign business is implementing projects in the healthcare sector - in the Moscow International Medical Cluster, located on the site of the Skolkovo innovation centre.

“The Israeli consultative and diagnostic centre Hadassah Medical is opened here, therapeutic building and rehabilitation building are designed. A smart hospital of the future Bundan of Seoul National University (South Korea) and the French medicine centre Universite de Strasbourg will also be located at cluster site,” Artem Barashev said.

Photo by Maxim Mishin, Press Service of the Mayor and Moscow Government

Representatives of Moscow regularly meet with foreign business - they present the investment potential of Moscow, discuss the enterprises localizing opportunities. Foreign business, like domestic, can be favoured by Moscow government. The favourable terms for investors allow attracting more and more foreign money to Moscow economy.

Source: mos.ru

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