Swedish companies to invest $500 million in Moscow Region's projects

On the 27th of May, a meeting took place between Denis Butsayev, a Deputy Chairman of the Moscow Region's Government and Minister of Investments and Innovations of the Moscow Region, and Peter Erickson, the Ambassador Plenipotentiary to Sweden in the Russian Federation.

Swedish companies to invest $500 million in Moscow Region's projects

On the 27^th of May, a meeting took place between Denis Butsayev, a Deputy Chairman of the Moscow Region's Government and Minister of Investments and Innovations of the Moscow Region, and Peter Erickson, the Ambassador Plenipotentiary to Sweden in the Russian Federation.

"Our embassy suggests that companies expand their opportunities and carry out business not only in Moscow and Saint Petersburg. This is why every year we arrange several trips to Russian regions together with the Swedish Trade & Invest Council. We are holding such event in the Moscow Region for the first time", Ambassador Plenipotentiary to Sweden in the Russian Federation Peter Erickson noted.

Approximately 15 companies featuring Swedish capital are registered in the Moscow Region dealing with the manufacturing of cosmetic products and food packing materials, construction of trade and leisure centers, wholesale and a series of other activities, with the largest of these being IKEA, Scania, Volvo, TetraPak, Oriflame and Alfa Laval.

As part of the event, Head of the Moscow Region Development Corporation Timur Andrev described the Moscow Region's potential and told about Swedish companies that successfully develop their businesses in the Region.

Expansion plans were articulated at the meeting in connection with the existing facilities. For example, Scania Rus is completing the construction of a new service station for Scania branded vehicles in the Odintsovo District and a service station for trucks is being constructed now in the Noginsk District. IKEA is currently implementing a project on expanding its furniture plant and distribution center in the Solnechnogorsk District.

"We are waiting for new Sweden companies that have never been in the Moscow Region before to come. These will include trading companies and companies belonging to the processing industry. A total of five projects is expected to be implemented within 2–3 years", Denis Butsaev said.