The Moscow City Government’s measures to support businesses and investors are dictated by the interests of entrepreneurs and specific aspects of the Russian capital as a unique constituent entity of the Russian Federation.
- The goal of support is to unlock the entrepreneurial and scientific potential of the Moscow city residents to the fullest extent and to ensure high living standards for them.
- Moscow is a key region concentrating small and medium-sized businesses (with over 12% of the general number of small and mediums-sized companies of Russia operating in Moscow). The main emphasis of the city’s regional policy is on the development of this segment, Today, any entrepreneur can receive a broad range of preferences: from consultations and free training programmes to direct financial support.
- Science and innovations.Moscow is No. 1 scientific and innovation centre of Russia. The city’s government has created a comprehensive infrastructure to support innovative companies, including financial support measures, preferential access to the necessary infrastructure in technoparks and technopolises, simplified access to venture financing, subsidies for receiving international certificates, and access to the extended package of benefits as part of the Zelenograd Special Economic Zone.
- Competitive manufacturing.To effectively upgrade the city’s manufacturing (about 10% of Russia’s manufacturing companies are in Moscow), there is a set of measures for intensifying the existing productions and re-develop the inefficiently used industrial zones. In particular, the authorities subsidise part of the credit facility to acquire hi-tech equipment, benefits are also granted with regard to taxes and lease rates for car markers.
- Financial infrastructure.With a view to developing Moscow as a global financial centre, the city’s government, acting within its powers, has developed a set of measures to support credit institutions through special funds: the Fund for Developing the Lending of Small Businesses in Moscow, the Fund for Promoting the Development of Microfinance Activities, and the Fund for Promoting the Development of Venture Investments.
- Quality of urban environment.The authorities encourage private investments in the spheres which have been traditionally financed by the government such as transport, healthcare and education. To achieve this, the city actively cooperates with businesses through PPP projects, also letting out land and premises at preferential rates. These measures complement the investment programme of the Moscow Government, primarily designed to boost the transport complex of Moscow.
- The support system constantly develops whereas the timeframe and cost of various administrative procedures go down. Besides, the support mechanisms themselves are also being enhanced regularly. Currently, further measures are being approved such as granting subsidies to employers to enhance the qualifications of their employees, along with preferential land lease rates to efficient industrial enterprises.