OREANDA-NEWS The development of import-substituting industries, domestic tourism, as well as the creation of infrastructure for small and medium-sized businesses, including through Moscow's investments, have become one of the main factors in the growth of the number of registered legal entities in the capital, said Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.

According to Efimov at SPIEF-2023, the number of legal entities operating in the capital increased by 6.5% over the year, their total number as of May 1 exceeded 596 thousand.

At the same time, the number of created legal entities exceeds the number of liquidated ones for the second year. So, for the first 4 months of the year, almost 32 thousand companies and organizations were registered in the capital, and 10.2 thousand stopped working. "Such dynamics is evidence that favorable conditions have been created in Moscow for doing business and increasing the investment attractiveness of the city," Yefimov said.

In particular, more than half of the non-residential areas built last year under the renovation program are already being used for commercial purposes, including for the opening of retail and service enterprises.