MOSCOW, September 7 (RIA Novosti) - The Moscow City government wants to simplify administrative procedures and provide tax privileges to foreign investors, the head of the Moscow external economic and international relations department, Georgy Muradov said on Tuesday.
"We need to encourage foreign investors by cutting the number of administrative procedures and providing tax privileges. Besides, we should consider creating a single window system for foreign investors," Muradov said at the meeting, which discussed the city's external economic relations.
"Direct investment, accumulated in 2009, totaled $27 billion," Muradov said, adding that capital outflow from Moscow amounted to $58 billion, including $16 billion of direct investment.
Muradov said direct investment in industry and science was of great importance for the city, however, "in 2009, only $400 million was invested in this sector, or one percent of total investment".
