Moscow Government Calls on American Businesses in Boston and New York

On Wednesday, March 20, in New York the Moscow Government and KPMG will host concluding presentation of their Destination Moscow Roadshow 2013 – a series of events in the UK, Germany, Singapore, Japan and the U.S. – designed to engage the international business community and promote constructive dialogue with investors around future opportunities in the city that is at the heart of Russia’s growing economy. 

The New York City event will take place on March 20 at the Intercontinental New York Barclay from 8:30 a.m. – 1:00 p.m.

At the events, a delegation from the Moscow Government will present its credentials to U.S. authorities and representatives from American businesses interested developing a presence in Moscow.  The city of Moscow already attracts more than 25% of the foreign direct investment into Russia and has become a key location for 70% of Fortune 500 companies.

Keynote speakers among the delegation from the Moscow Government will include Sergey Cheremin, Minister of the Moscow Government and the Head of the Department for External Economic and International Relations, as well as representatives from the Russian Direct Investment Fund, the Bank of Moscow, USRBC (the U.S.-Russia Business Council) and U.S. investors in Russia.

Discussions will be moderated by Marc van der Plas, Member of Executive, KPMG Russia & CIS.  They will highlight the City Government’s commitment to working towards the introduction of international standards and targets to further improve the business climate, enhance productivity and move towards the production of high-value added goods.

Sergey Cheremin, Minister of the Moscow Government and the Head of Department for External Economic and International Relations of the Moscow Government says: “We are working closely with the federal government to develop Moscow as a leading International Financial Center.   Moscow is well positioned for growth, and while some barriers exist, our large, educated working population, low income tax and status as the largest and most developed financial capital in the region make our city an attractive destination for international businesses.”

Key points about the U.S. trade relationship with Russia include:

  • The U.S. is one of Russia’s leading trading partners.  For the first 9 months of 2012, trade between Russia and the United States was more than $29.4 billion, of which U.S. exports to Russia amounted to almost $7.5 billion. 
  • Fifty percent of Russian imports from the U.S. are engineering products – the majority of which includes industrial machinery and equipment, chemicals and transportation equipment. 
  • About half of American capital in Russia is in the fuel and energy sector. U.S. corporations such as Conoco-Phillips, Chevron, and Exxon-Mobil continue to show interest in large-scale investments in this area (Sakhalin-1; The Caspian Pipeline Consortium (CPC); Polar Lights; etc.).

 

To find out more about Moscow as a destination for business and investment, visit www.investinmoscow.ru 

For more information please contact Michael Lilly at Porter Novelli on behalf of the Moscow City Government at Michael.lilly@porternovelli.com

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