The volume of Moscow's manufacturing industry growth more than 1.5 times in 11 years

November 25
Economy and entrepreneurship

The volume of manufacturing industry production in the capital has increased more than one and a half times since 2010.

Over three thousand industrial enterprises operate in Moscow. The manufacturing industry has been showing the most confident growth over the past three years. In 2018, production increased by 11 percent compared to the same period of the previous year, in 2019, the growth was 7.1 percent, and in 2020, production increased by 16.4 percent.

The volume of goods shipped by the capital's enterprises has almost tripled in 11 years — from two trillion rubles to almost six trillion rubles, Vladimir Efimov, Deputy Moscow Mayor for Economic Policy and Property and Land Relations, said.

The positive dynamics was provided by a significant growth in certain groups of goods.

"A noticeable increase was recorded in the production of electrical equipment — 3.7 times, finished metal products — 3.8 times, radio electronics and instrumentation — 4.1 times. The production of rubber and plastic products has also increased fourfold," Alexander Prokhorov, Head of the Moscow Investment and Industrial Policy Department, said.

A significant contribution to the manufacturing industry of Moscow was made by one of the four largest manufacturers of cable and wire products in Russia - the Moskabelmet group of companies. About 10 percent of the total production is exported, primarily to the CIS countries.

The largest enterprise producing finished metal products has become the GalVent Ventilation Factory — manufacturer of air ducts and ventilation systems. The company's share in the Russian market in its segment is more than 40 percent, and the importers of its products are Belarus and Kazakhstan.

The radio electronics segment in Moscow is represented by various companies, including those producing microelectronics and equipment. Among them, the Micron plant is a leading manufacturer of microelectronics in Russia, producing more than 40 percent of domestic microcircuits. It accounts for more than half of Russian electronics exports.

The comprehensive support of the city — from subsidies and preferential loans to tax preferences promote the development of the manufacturing industry. Today, 129 companies receive assistance, including more than 60 enterprises with the status of an industrial complex.

For example, in 2020, this status was awarded to the Bakor Scientific and Technical Center (STC), a leading developer and manufacturer of special refractories, industrial filtration equipment and dust and gas cleaning systems. The new status allowed the company to save about 10.1 million rubles. Some of these funds were immediately directed to the production of a pilot plant for thermal destruction unit (TDU) with an innovative gas purification system.

The Moscow Fund for Industry and Entrepreneurship Support also provided the company with a loan under the Export program in the amount of 200 million rubles to replenish working capital and purchase equipment (grinding, milling, engraving machines, high-temperature burning kilns, loaders, equipment for a research center and much more).

As a result, the company expanded its presence in foreign markets and in 2021 increased the volume of exports by 35 percent compared to the previous year. Today STC Bakor supplies its products to 16 countries, including Australia, Austria, Belarus, Germany, India, Macedonia, Mexico, Peru, USA, Chile, South Korea, Japan and others.

Source: mos.ru

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