The annual contribution of the Moscow construction industry to the city’s economy is about RUB 360 billion – Andrey Bochkarev

This is almost a fifth of the city’s gross regional product

The annual contribution of the construction complex to Moscow’s economy is about RUB 360 billion, Andrey Bochkarev, Deputy Mayor of Moscow on Urban Planning and Construction, said at the 10th Moscow Urban Forum (MUF). Mosinzhproekt Engineering Holding has been an operator of the capital’s key urban development programmes and the Exclusive Partner of the MUF since 2014.

According to Andrey Bochkarev, the construction sector, which creates the infrastructure, is key to achieving the city transformation goals.

“The contribution of the construction complex to Moscow’s GRP is about 19%, and its annual contribution to the city budget system is about RUB 360 billion. Construction has a multiplier effect and attracts foreign investments in related areas thanks to the infrastructure being created in the city,” the head of the capital’s Construction Complex explained. He went on to say that, besides, more than 1 million residents are either directly involved in this sector or work in related sectors, such as production of building materials, machines, mechanisms, construction financing and construction operations.

The Moscow Urban Forum is a large-scale congress in the field of urban development, economics and architecture, which has been held in the capital annually since 2011 and brings together prominent statespersons, urbanists, architects and designers, experts and entrepreneurs to exchange experience and gain new professional knowledge.