openPR Logo
Press release

Volume of investment by British companies in Moscow’s economy has grown 2.3 times in the past five years

Volume of investment by British companies in Moscow’s economy

As of July 1, the volume of accumulated direct investment from the United Kingdom in Moscow reached almost USD 18 billion, said Vladimir Efimov, Deputy mayor of Moscow for economic policy and property and land relations.

There are many examples of the localization of British companies in Moscow: major companies such as Unilever, Diageo, British American Tobacco, as well as British consulting companies such as Knight Frank, Ernst & Young and Deloitte operate here. The world's leading pharmaceutical companies GlaxoSmithKline And AstraZeneca have their representative offices in the capital

Despite the challenging global economic situation, there is an influx of foreign investment in the city.

“Even amid a downturn in international trade, foreign businesses continue to invest in financial, insurance, trade, industrial and high-tech companies in Moscow. According to the Central Bank, the volume of accumulated direct investment from the UK in Moscow as of July 1 this year reached almost USD 18 billion, a 40% increase compared to April 1 of this year, when the share of British companies accounted for about USD 12.8 billion of investment. Over the past five years, the volume of investments has increased 2.3 times. Five years ago, British investments amounted to only USD 7.6 billion," said Mr. Efimov.

This year, the volume of Moscow's exports to the United Kingdom continues to grow steadily. In the first 9 months of 2020, it increased 2.3 times and amounted to USD 10.5 billion, which amounts to almost 11% of the capital's total exports. Popular exported products include inorganic chemical products, mechanical equipment and machinery, and computers.

Moscow can be considered a gateway to Russia for UK investors and, of course, the most important business partner of the Russian-British Chamber of Commerce, as its Executive Director Alf Torrents pointed out.

Mutually beneficial cooperation between Moscow and foreign companies is backed by data: the volume of accumulated foreign direct investment as of July 1, 2020 amounted to almost USD 260 billion.

"An offset contract is one of many incentives for foreign investors to localize theiir production in Moscow. It provides companies with a long-term guarantee of product sales, while the city gets new jobs and an increased tax base. Moscow has already signed four offset contracts with pharmaceutical, medical goods and food production companies. The total amount of private investment in these projects amounts to USD 164 million, while the volume of purchases amounts to USD 971 million," said Emil Petrosyan, Deputy Head of Moscow Investment and Industrial Policy Department.

Complex of Economic Policy, Property and Land Relations of the City of Moscow
Moscow, 1st Krasnogvardeisky proezd, 21, p. 1
Diana Issa, mos@nwadvisors.com

The Complex of Economic Policy and Property and Land Relations of the Moscow Government addresses issues of economic regulation designed to form and develop a favorable business environment in the capital. The agencies that are a part of the Complex develop and implement the state policy of Moscow in the area of economics, property and land relations, valuation and investments, finance, competition, pricing and taxes.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Volume of investment by British companies in Moscow’s economy has grown 2.3 times in the past five years here

News-ID: 2208523 • Views:

More Releases from Complex of Economic Policy, Property and Land Relations of the City of Moscow

Moscow plans to issue its first "green" bonds
Moscow is preparing to enter the bond market, with the first bond issue planned for this spring, said Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations. "On February 24, the Moscow Government approved a set of conditions for the issue and circulation of municipal bonds. Various conditions make it possible to issue bonds with fixed and variable coupon income with or without debt amortization and

More Releases for British

Sugar Beet Market Outlook 2031 Report By Key Players-Südzucker, British Sugar, …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to 𝐌𝐑𝐈, the global Sugar Beet Market size in terms of revenue was valued at around USD XX.X billion in 2023 and is expected to reach a value of 𝐔𝐒𝐃 𝐗𝐗.𝐗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, growing at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝐗𝐗.𝐗% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟏. The global Sugar Beet market is projected to grow at a significant growth rate due to several driving factors. The rising demand for sugar and products generated from
Biscuit Market Is Booming Worldwide | Nestlé, Cadbury, Associated British Foods …
Biscuit Market: The extensive research on Biscuit Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Biscuit Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the market, such as market rate, estimated value in the
Promoting British Business and British Startups With BestStartup.co.uk
BestStartup.co.uk has taken on the necessary and enjoyable task of promoting innovative startups and British business achievements this year. The business successes of last year were hard-won and did not garner the attention that they deserved. Businesses in the UK have faced double-pronged difficulties in recent months, both from a worldwide pandemic and due to changing tax laws. Despite the challenges of 2020, British business has risen from the ashes to
British Gardeners Vote with their Feet and Buy British
UK consumers are becoming more conscious of what they are buying after the emergence of Covid. A survey commissioned by Made in Britain reveals strong evidence that consumers are more likely to buy British to support the economy. • 90% of Britons felt it was important to buy British products generally • Two-fifths prefer to buy British irrespective of cost • Seven in 10 people believe that buying British can help tackle climate change Copely Developments,
LED Lighting for British Royalty
(April 28, 2014 – Taipei) When it comes to quality and safety, ALT puts priority over the two above all else. Therefore it comes as no surprise that even the Queen of England opted for ALT’s products. About 1,100 pieces of ALTLED® Metis dimmable chandeliers in warm white are installed in a Grade 1 Listed building in Central London next to Buckingham Palace, Lancaster House. Lancaster House was used during
British Accent Webinar Dates Announced
A week long programme of webinars announced about a new British Accent training resource called The Ultimate RP British Accent Learning Resource. Bristol, UK, April 28, 2011 -- RP British Accents students can now register to join a webinar to find out more information about the release of a brand new British accent training product. “The Ultimate British Accent Learning Resource” has been created by Alison Pitman from LearningBritishAccent.com and