Best places to do business

Moscow is the most difficult place to do business out of 50 top world centres of commerce, according to a MasterCard survey. The index measures how major cities contribute to connecting and developing global business.

Moscow comes after Warsaw and other emerging market cities like Sao Paulo, Johannesburg and Beijing.

Kommersant quotes MasterCard experts who say – to move up the table, the Russian capital needs more business, research and science centres, and a better transport infrastructure.

London tops the list, outperforming New York thanks to its flexible business environment and outstanding levels of financial connections and trade.

Experts say the only way for Moscow is up.

“You have to understand this is an emerging market and a very young economy. Such issues as transportation, taxation, legal framework and banking have either turned up recently or are beginning to mature. So I think starting from the 50th place with these notable cities is not so bad, as we have room to grow,” believes Derick Pearlin, MDM bank managing director.