Exports by Moscow companies have grown nearly 1.5 times as compared to last year

Exports by Moscow companies have grown nearly 1.5 times as compared to last year
Nearly 700 Moscow enterprises have been involved in processing and 40 percent of manufacturers have been providing exports.

At the end of the first quarter of 2017, exports by Moscow companies have grown 1.5 times on 2016, said Director of the City Agency for Investment Management Leonid Kostroma at the Moscow Urban Forum.

“Out of the 1,300 large and medium-sized real sector enterprises, which have been monitored by Moscow’s Department for Environmental Management and Protection, about 700 are processing ones. Statistics also has it that 40 percent of manufacturers are exporters,” he explained. According to the Russian Pension Fund, in 2015 the number of real sector personnel totaled 1.3 million, which is 17 percent of the overall number of those employed.

Moscow has profitable conditions for industrial development. To boost new industrial startups and the development of the already existing ones, the city has created a mechanism of conferring the status of an industrial complex, a technical park and a special economic zone. To support the enterprises, taxes have been reduced and investors have been provided guarantees. In addition to this, offset contracts have been signed to attract investment.

The 7th Moscow Urban Forum is being held at the pavilion No. 75 of the National Exhibition of Economic Achievements (VDNKh) until 12 July. On the first day of the event, the number of visitors exceeded 6,000. The forum has united several formats – business agenda and discussions, presentations, interviews, conferences, MUF Fest city festival and MUF Expo development exhibition.