Vice Mayor Yefimov: 3,000 jobs have increased in the capital thanks to the cable industry
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Moscow Deputy Mayor for Economic Policy and Property and Land Relations Vladimir Yefimov said that 18 city manufacturers of cable and wire products provide jobs for about 3,000 people.
“On October 25, Russian cable industry workers celebrate their professional holiday. The products of the capital’s manufacturers are in great demand in many industries: they are used in the construction of metro lines, the reconstruction of roads, the repair and launch of cable power lines throughout the country,” Yefimov said.
The total revenue of such enterprises last year alone amounted to 31.6 billion rubles, showing an increase of 33.8% compared to 2020.
Industrialists receive systematic support from the city. For example, companies can be given the status of an industrial complex. It provides an opportunity to receive tax incentives on profits, property and land or land lease for enterprises.
According to Vladislav Ovchinsky, head of the Investment and Industrial Policy Department, over the past year the city has assigned the status of an industrial complex to 2 manufacturers of cable and wire products. Thanks to tax incentives, they will be able to save more than 24 million rubles annually and direct funds for development and new developments. Industrialists are also working on import substitution, creating domestic analogues of foreign goods.
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