Moscow has been ranked fifth in an investment appeal rating in Europe, moving beyond Helsinki, Warsaw, Berlin and Stockholm. The Russian capital moved up two places from its previous position. The rankings were published by The Financial Times international daily newspaper.
Moscow has become the leader among Eastern European cities in investment appeal for the second time. Warsaw is second and Bucharest is third.
“The Russian capital has improved its standing in the authoritative ratings of European cities in investment appeal. This year Moscow is one of Europe’s top five cities in this indicator for the first time, and ranks first among Eastern European cities,” said Moscow Government Minister and Head of the Department for Economic Policy and Development Vladimir Yefimov.
He emphasized that investors find it profitable to work in Moscow owing to benefits and preferences. “In implementing a comprehensive investment support programme, Moscow has become one of Europe’s leading metropolises in terms of simplicity and convenience of doing business. The many benefits and preferences granted by the city make it more profitable for investors to operate here. Largely due to this, every year the city attracts about half of all investment made in Russia,” Mr Yefimov said.
The Financial Times compiles its rating twice a year, using its database on direct foreign investment. The rankings are the results of 97 indicators that are divided into groups like economic potential, employment, cost of doing business, infrastructure and a business-friendly environment.