The Russian capital, Moscow, has for the first time topped the National Regional Investment Climate Ranking traditionally presented at SPIEF, after finally beating Tatarstan and Tyumen by the sum of ranking criteria in 2019.
Russia’s Agency for Strategic Initiatives (ASI) compiles the ranking by interviewing about 400,000 business leaders across the country to assess how much the business environment has changed. Moscow was recognized as a model region for doing business in Russia this year according to an integral assessment by four criteria – the regulatory environment, business institutions, SME support, infrastructure and resources.
In recent years, Moscow has been in the top 10 – third place in 2017 and second in 2018 – but it has never topped the ranking until this year. Moscow Mayor Sergei Sobyanin said it was difficult to reach the top, noting that the ASI ranking is credible and based on a comprehensive assessment of business support.
“This ranking is easily tested by life – it is clear how it compares with real investment,” the mayor said. “To confirm these words, I can say that in the first quarter, investment in fixed assets increased by 25% compared with last year’s figures. This is a giant leap!”
According to Sergei Sobyanin, previously insignificant factors have now come to the fore.
“If you used to believe that a comfortable environment and social infrastructure has low priority for business, now we are sure it is the most important factor. On the other hand, there will be no progress if there are no resources for their development. This is the wheel that needs to be set in motion and rolled ahead together with the business. ”
The 2019 top ten regions by investment appeal are:
- Tyumen Region
- Kaluga Region
- St. Petersburg
- Tula Region
- Moscow Region
- Belgorod Region
- Leningrad Region
- Ulyanovsk Region