Moscow Participates in Annual Investment Meeting (AIM) 2024

Sergey Cheremin, Minister of the Government of Moscow, Head of the Department for External Economic and International Relations of Moscow (DEEIR), officially inaugurated Moscow’s exhibition stand at the 13th Annual Investment Meeting “AIM Congress 2024” in Abu Dhabi. This year, the stand featured co-exhibitors including SberCity, Sitronics, VisionLabs, and Constructor.

During the presentation session, the head of DEEIR provided a detailed overview of Moscow’s investment climate and the capital’s development pace amid new economic and political realities.

“Moscow’s investment potential currently stands at an exceptionally high level. Numerous investment projects are driving urban infrastructure development and creating new employment opportunities. The city offers favorable business conditions not only for Russian companies but also for foreign investors. To date, Moscow has attracted over $250 billion in foreign direct investment. For the past five years, the capital has led Russia’s National Investment Climate Rating. Sustainable development remains a cornerstone of our economic policy,” emphasized Sergey Cheremin.

In his address, the DEEIR head highlighted Moscow’s socially-oriented economic approach. The primary objective involves optimizing urban resources with minimal environmental impact while continuously improving residents’ quality of life. Moscow ranks among the few global megacities employing comprehensive management tools to achieve sustainable development goals. The city government has issued green bonds to bolster financing for environmental initiatives.

Moscow offers international investors several competitive advantages, including serving as a gateway to Russian and CIS markets. Investors additionally gain access to highly skilled professionals, given the city’s concentrated educational and scientific potential.

Cheremin showcased Moscow’s extensive transport infrastructure, advanced healthcare and education systems, urban environment quality, and cutting-edge ICT development – all factors enhancing the capital’s appeal to foreign investors. Rising investment activity stems from comprehensive support measures, with over 900 companies upgrading to large business status in 2023 (25% growth year-on-year).

The city maintains support mechanisms for SMEs through tax incentives like reduced income tax for startups and property tax benefits for technology adopters, alongside preferential loan programs.

Participating in the ministerial roundtable “Preparing for Economic Slowdown: Hidden Investment Opportunities,” Cheremin noted Moscow’s achievement in reducing oil/gas revenue share to 5% since 2010 through high-tech sector and SME investments. In 2023, the city attracted over $80 billion investments (70% private), maintains near-zero public debt, and annually invests $50+ billion across economic sectors.