Moscow is trying to attract foreign investors to help develop its huge new territories. The Russian capital has increased in size by 50% after joining with the territory of the neighbouring region; the expanded city is now second in size behind Grand Beijing. To repeat the success stories of Chinese and European mega-city development, major foreign businesses have been invited to join in the fun. To kick-off the project, Moscow authorities held their first road show for resident diplomats.

Investors are being encouraged by various preferential inducements. The government is also promising to solve the problem with the law on concessions, to establish an agency for the support of projects and to set up a bank of development of Greater Moscow. It is planned to build 100 million square meters of property and create millions of jobs in New Moscow.

Currently, foreign investments in Moscow's economy are well below what they could be. Foreign companies have responded with very little enthusiasm to the Russian capital’s plans to become one of the world’s foremost business centres, comparable to London or Singapore. In order to allay the fears of potential investors, Moscow authorities will have to take serious measures to eliminate red tape, improve business transparency and establish proper legal and tax systems.

Pavel Gagarin

Chairman of the Board of Gradient Alpha Investment

Paint manufacturer Teknos is fighting to gain customer loyalty in the Russian market. The Finnish concern is building a paint factory in St. Petersburg.

Vladimir Putin sent his greetings to participants of the 33^rd session of the Council of Heads of Security Agencies and Special Services of Commonwealth of Independent States Member-States, which is taking place in Moscow ahead of Russian Security Agency Worker’s Day.