The volume of Italian companies' investments in the economy of Moscow has grown by 300 million dollars a year to 3.5 billion rubles, said Deputy Mayor of Moscow Vladimir Yefimov.

During a teleconference between Moscow and Milan dedicated to investment opportunities in the capital, the Deputy Mayor said that Italy had long been a reliable business partner of the Russian capital.

"Investments of Italian companies in the Moscow economy, according to the Bank of Russia on 1 April this year, exceeded 3.5 billion dollars. Over the year, their volume has increased by 0.3 billion dollars," Yefimov noted.

Foreign companies, according to his data, even in spite of the pandemic, show high interest to Moscow. Now in the megacity, apart from Italy, businessmen from Germany, France, Finland and Austria are investing. Major investors also include the USA, Japan, Singapore, Korea, China and Kazakhstan. The accumulated foreign investments in Moscow on the first April of this year exceeded 250 billion dollars.

Among Italian companies which conduct commercial and investment activity in Moscow is the FCA concern (Fiat Chrysler Automobiles). It is represented by FCA RUS, the general distributor of Chrysler, Jeep, Fiat, Fiat Professional and Alfa Romeo cars in Russia.

Food manufacturer Cremonini Group has launched a new logistics and distribution platform through its subsidiary MARR Russia. The new food distribution complex is located next to the hamburger plant.

According to Alexander Prokhorov, head of Moscow's Investment and Industrial Policy Department, exports from Moscow to Italy grew by 61% to $7.4 billion from January to August.

"In the structure of trade turnover, exports are twice as much as imports: this shows the demand for Moscow products in the Italian market," he added.

Made in Russia // Made in Russia

Author: Ksenia Gustova