Moscow Investment Program Totals About 1 Billion Dollars A Year

Vice mayor of the Russian capital Valery Shantsev said today at a meeting with a group of German journalists that the volume of Moscow yearly investment program is about 1 billion dollars. Beside the major investment program, Moscow puts into life "different investment projects on construction and reconstruction" every year, noted Shantsev. He reported that the general plan of Moscow's development until 2020 comprises "thousands of investment projects - from small ones, estimated at 1 to 2 million dollars, to the largest ones". In particular, one of the large-scale projects carried out in the capital now is the construction of the business center "Moscow-city". According to Shantsev, this project is estimated at about 10 billion dollars. On the whole, Moscow attracts a great amount of foreign investments yearly. Last year this amount totaled 4 billion dollars. "The Moscow government thinks investment activity and creation of favorable investment atmosphere to be one of its major tasks, for there can be no development of the city without it", Shantsev stressed. He noted that the city pursues an active policy in this direction. Investment forums, exhibitions, international meetings and other events oriented for favorable investment climate creation take place time and again.