The number of active legal entities in Moscow increased by 6.5% over the year

The total number of legal entities operating in the capital for the year increased by 6.5% and exceeded 596 thousand on May 1, 2023. This was reported by Deputy Mayor of Moscow on Economic Policy and Property and Land Relations Vladimir Yefimov within the framework of the XXVI St. Petersburg International Economic Forum. 

«The number of registered legal entities in Moscow is steadily growing, and for the second year in a row the number of legal entities created exceeds the number of liquidated. So, in January - April of this year almost 32 thousand companies and organizations were registered in the capital, which is a quarter more than during the same period in 2022. In turn, 10.2 thousand legal entities stopped working - 55.3% less than a year earlier. These dynamics are an indication that Moscow has created a favorable environment for business and improved the investment attractiveness of the city», — said the Deputy Mayor. 

The main factors behind the growth in the number of legal entities are import substitution, the development of domestic tourism, and the creation of new jobs for small and medium-sized businesses, including through city investment in the development of quality infrastructure. For example, more than half of the non-residential premises, or an average of three objects for each such house, are already used in houses commissioned for renovation for commercial purposes in 2022. Some of these areas are occupied by small businesses that open trade and service points there, the Deputy Mayor added.