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Economy and entrepreneurship

10.07.2015, 12:26

Moscow leads investment climate ratings among Russian regions

Moscow leads investment climate ratings among Russian regions

The business climate in Moscow has improved considerably, as follows from the national investment climate ratings of Russia’s regions.

In 2014, Moscow ranked just 19th in the Regulatory Environment category (the Efficiency of Procedures for Issuing Construction Permits factor) of a pilot survey of 21 Russian regions. The city ended up in group E for regions with the worst indicators. In 2015, Moscow has improved its positions in the same category, moving up to group B for regions with comfortable conditions for business. The 2015 survey rated 76 regions. At present, the average time for obtaining construction permits for a standard site (a residential building taller than four stories that has to be connected to five types of resources) has been cut from 228.7 days to 117.6 days, said Sergei Lyovkin, Head of the Moscow Department for Urban Development.

The results of the survey of the Russian regions were unveiled by the Agency for Strategic Initiatives (ASI) during the St Petersburg International Economic Forum (SPIEF). Seventy-six regions were evaluated according to 50 indicators. The survey relied on polls of entrepreneurs and official statistics.