According to the Moscow government, in the last five years, the United Arab Emirates (UAE) has multiplied by 4.4 the investment in the capital. As of January 1, 2022, the total investment of the Arab country was $362 million.
This was reported on the Moscow government website. As the Deputy Mayor for Economic Policy and Property and Land Relations Vladimir Yefimov said, only last year, the volume of UAE investments in the Moscow economy, according to the Central Bank, increased by more than 1.5 times, and in October 2021 at the beginning of 2022 - by 14.4%.
The politician stressed that the capital represents 251.4 billion dollars of investments, which is almost half of all foreign investments in Russia.
Arab investors prefer to finance projects in the technology sector, and Moscow's main exports are industrial equipment, soft drinks, chocolate products and whole-grain ready-to-eat products.
The commercial turnover between Moscow and the United Arab Emirates in 2021 increased 2.1 times compared to the previous year and amounted to $1.1 billion, of which $993 million came from exports of Russian capital, $ 111 million, from imports.
Yefimov said that Arab investors who want to locate their production in Moscow receive "the same support measures as domestic ones."
These measures include special statuses for companies with a reduced tax burden, preferential loans, as well as tax incentives and a moratorium on the indexation of rental rates for residents of the Technopolis Moscow special economic zone.
Author:
Ahmed Sadulayev
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
