Investments in Moscow’s economy exceed RUB 1.9 trillion in H1 2022
From January to June 2022, investments in Moscow’s fixed assets exceeded RUB 1.9 trillion, showing a 4.4% increase from a year earlier.
“According to Rosstat, investments in Moscow’s fixed assets in H1 2022 exceeded RUB 1.9 trillion. It is 4.4% more than a year earlier. In six months, investments of large and medium businesses reached RUB 1.7 trillion. The statistics show that companies in Moscow have mostly invested in machinery and equipment, spending 32.4% of total budget on it,” said Vladimir Yefimov, Deputy Moscow Mayor for Economic Policy and Property and Land Relations.
32% of investment was channeled to construction of non-residential buildings and upgrading, with 17.7% allocated to creation of intellectual property. Investments in construction of residential buildings amounted to 16.5%.
“Despite the economic restrictions, business in Moscow remains active. In H1 2022, most of the expenses, 52.1%, were funded out of enterprises’ pockets. The remaining 47.9% was covered by external funds, including loans and subsidies. Investment activity is aided by the supporting measures in place in the city. They are regularly upgraded and revised,” said Vladislav Ovchinsky, Head of the Moscow Department of Investment and Industrial Policy.
This year, Moscow has adopted extra measures to support businesses amid sanctions. For example, the city provides preferential loans to industrial enterprises and investors that create non-residential facilities in Moscow. The Moscow Fund for Industry and Entrepreneurship Support was given RUB 20 billion to implement these programs.
Entrepreneurs can choose optimal preferences in the supporting measures navigator on the Moscow investment portal.
Learn more about the economic policy, land and property relations in Moscow at economy.mos.ru.