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Withdrawal of foreign investors not having significant effect for Moscow Region

Their number dropped to 180 after introduction of certain sanction measures, with about fifteen of them making rebranding

MOSCOW, June 12. /TASS/. Sanctions imposed on Russia did not have a significant impact on the economy of the Moscow Region, deputy prime minister of the Moscow Region Ekaterina Zinovyeva told TASS in an interview.

"We had 186 foreign brands present with us before sanctions. It is important that these were the manufacturing companies, that is, we have plants situated with us. Their number dropped to 180 after introduction of certain sanction measures, with about fifteen of them making rebranding. These are usually companies with a very good development level, a small number of jobs but high-technonology ones and with high salaries," she said.

"Their input to our economy is about 10-15%. Therefore, in terms of tax revenues and the manufacturing volume, we have not felt, so to say, serious volatility or decline," Zinovyeva added.

Anti-Russian sanctions

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