Moscow mayor Sergey Sobyanin has promised to cut down on red tape for US investors ready to back businesses in the Russian capital.
A special business-support headquarters has been set up under the city's business department, with the aim of providing all the necessary help for those interested in investing in the city’s projects.
“Moscow plays a key role in Russia-US trade, accounting for about 20 per cent of the entire trade turnover,” Sergey Sobyanin said at a meeting with members of the American Chamber of Commerce. “In 2011, it was about $7 billion. And there is vast potential for mutual investment growth.”
Sobyanin particularly called on US businesses to invest more in Russian medicine, education, transport and big Moscow projects.
"Development of new territories is a big chance for architects, designers and all those interested in taking part in large-scale projects to offer their services," the mayor said.
He also stressed that now it is much easier now to make investments in Moscow than it was a couple of years ago.
“There are fewer barriers to business from controlling authorities,” Sobyanin said. “And we are to bring down the existing barriers for investors.”
Business has welcomed the long-awaited move, saying the US has been expecting the turn for over a decade.
“Moscow has neglected the program to attract foreign investments for 10 years,” Andrew B. Somers, AmCham president and CEO, told RT. “It’s a good thing that a new mayor finally restarted it.”
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