Sanctions? Moscow rises among best business cities in Europe

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Russia’s capital Moscow has beat Helsinki, Warsaw, Berlin and Stockholm and stood out in the top 5 of Europe’s most attractive cities for foreign investment.

The 2018/2019 ranking was compiled by Foreign Direct Investment Intelligence (a division of the Financial Times). 301 European cities and 150 regions were evaluated.

Although London has maintained its leading position in the classification, experts say that this could change soon because of Brexit. Dublin came in second place and was followed by Paris, Amsterdam, Munich and Moscow.

“This year, Moscow is among the five most interesting cities on the continent to make investments, and has won first place in the ranking of cities in Eastern Europe,” said the head of the Department of Economic Policy and Development of Moscow, Vladimir Yefimov. “The capital of Russia has improved its performance in the prestigious classification of attractive cities for investment in Europe.”

Yefimov explained that the Russian capital has attracted foreign investors because of the benefits and preferences it offers.

“Moscow has successfully joined the list of Europe’s top megacities in terms of simplicity and convenience to do business as a result of its comprehensive investment support program,” he said.

The capital attracts about 50% of all foreign investment to Russia annually, the official said. Among the cities of Eastern Europe, Moscow ranked first as the most attractive to do business. It was followed by Warsaw and Bucharest.

The top 10 business-friendly cities also included Frankfurt, Zurich, Cambridge and Helsinki.

The Financial Times publishes the European Cities and Regions of the Future ranking twice a year. It examines five key areas – economic potential, the world of work, business expenses, infrastructure, and the environment for doing business. Each category is scored between 0 and 10 points. The total score determines the final place of a city in the ranking.

Moscow ranked tenth and seventh in the 2014/2015 and 2016/2017 indices, respectively. This clearly shows that, despite the sanctions imposed on Russia in 2014, Moscow is successfully continuing to develop its economic viability. This discredits both the “Russia on the brink of collapse” spun by Western media and Atlanticist analysts, as well as the myth that Russia remains a semi-colonial “gas station” dependent on the West. 

 

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