During the visit, in particular, they discussed the...
Moscow is the capital city of Russia and also the most populous one (approximately 9% of Russian population lives in Moscow). It is situated on the banks of Moskva River and close to the confluence of rivers Volga and Oka.
Moscow is the business, cultural and educational nerve center of Russia. Several multi-national companies have chosen to have their offices in Moscow. Moscow also houses approximately 257 universities along with a number of schools and colleges. More than a million undergraduate and graduate students study at various colleges and universities of Moscow. Thus, there is no dearth of skilled workforce. Moscow supplies not only services and goods to rest of the country but also technologies and human resources.
In terms of availability of financial resources and infrastructure, Moscow is better than all other Russian cities and several foreign cities. Close to 80% of the total financial resources of Russia make their way through the financial system of the capital city. The Moscow Interbank Currency Exchange (Micex) is one of the world’s top ten stock exchanges.
The city is the biggest transportation center in not only Russia but also Eastern Europe. Moscow is very well connected to rest of Russia by an extensive rail, road, air and waterways network. The city has 5 main commercial airports and a number of train terminals. Moskva River is used for ferrying The city boasts of Metro, monorail and trams.
Moscow is home to several industrial sectors such as construction, food, manufacturing, engineering, light and defense. Moscow has made tremendous progress in industrial enterprises in recent times. In the year 2008, the industrial production jumped by 11.5%. The productivity of small and large enterprises increased by 13.7% and investment in basic capital rose by 6%. The retail turnover, wholesale turnover and construction volume saw a rise of 5.1%, 9.1% and 2.4% respectively. The city of Moscow alone contributes up to 20% of the GDP of Russia. The income of people has increased and so has the spending power.
The city is also focusing on developing its foreign economic relations with other cities such as Vienna, London, Athens, Paris, Madrid, Rome, Prague, Brussels, Budapest and others. Relations pertaining to joint economic ventures, scientific and technological contacts and other educational associations are being encouraged.
Moscow alone is responsible for bringing in about 60% of the total foreign investment in Russia and holds one-quarter of the Russian foreign trade. Sectors such as communications, tourism, energy, transport, consulting, building and education are ideal for foreign investors. Foreign economic activity is responsible for approximately one-third of the city’s budget. Moscow has the third largest budget amongst all cities of the world. It was more than $ 40 billion in 2007 and jumped by 20% in 2008.
The government of Moscow is dedicated to providing a conducive environment for foreign investors and to provide business support to them. Several business centers, technology parks and Special Economic Zones are coming up in the city.
Moscow is truly an international city with some of the best facilities in the world for conducting a business.
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