“Investment climate in Moscow allows foreign companies to invest successfully. In recent years the quality of management has significantly improved in Moscow”, Sommers said at the Moscow Investment Roadshow in New York on Monday.

He stated that the relationship between the state and the business community has become more transparent, with less red tape. “Moscow is a great place for American companies to do business”, said Sommers.

Sergey Cheremin, Head of Department for Foreign Economic Activity and International Relations, said that to take down administrative barriers in the Russian capital many services have become online, and government contracts are posted on a website. “You should not have to deal with bureaucrats, they should not be in your way”, he said.

Cheremin said that Moscow spends a lot on social, engineering and transport infrastructure development. Some 70% of this money goes towards transit systems. The Head of Department also mentioned Moscow’s favorable tax regime as one of the business advantages of the city.

Project Group №5