Moscow included in the top ten cities favorable for business

07 March 2013

Venture Business News

According to a study conducted by Institute for Emerging Market Studies of the Skolkovo business school - Ernst & Young (IEMS), Moscow is one of the most business-friendly cities. 

The experts concluded that there are new global business-friendly cities in emerging markets appeared to replace traditional financial centers of the West (New York, Paris, London, Tokyo and Hong Kong). The first ten of these cities includes Moscow and St. Petersburg in addition to Dubai, Istanbul, Johannesburg, Santiago, Buenos Aires, Sao Paulo, Shanghai and Beijing.

Among the advantages of Moscow and St. Petersburg, the researchers noted their location: they are between Europe and Asia, the cities can comfortably do business in all directions, on both continents, and in many time zones.

However, as the study's authors emphasize, companies that intend to expand in developing countries will have to do more than just choose a new location for business. They will have to work with municipal, local and national authorities to improve the business climate of the regions they will operate in.

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