Interfax: Head of AmCham in Russia praises Moscow investment climate

File Photo of Outdoor Electronic Sign with Russian Exchange Data

NEW YORK. Oct 28 (Interfax) – The head of the American Chamber of Commerce (AmCham) in Russia, Andrew Somers, has praised the investment climate in Moscow and claimed that the environment for doing business in the city has improved significantly over the last few years.

Somers, who was speaking on Monday at a forum in New York entitled “Invest in Moscow: Doing Business in Russia’s Capital,” also claimed that relations between government and business in Russia are becoming more transparent and that bureaucratic barriers are getting removed.

The Moscow administration’s foreign relations chief, Sergei Cheremin, told the forum that many of the official services are now available online as a way to simplify formalities. “There is no need for you to have anything to with bureaucrats, there’s no reason why they should stand in your way,” he said.

Cheremin said the city administration spends large sums on building out the social, engineering and transportation infrastructures, with about 70% of the total expenditure going into transportation projects.

He praised Russian tax law and said tax breaks are offered to businesses in some situations.

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