The President set the task of completing the development and adoption of a legal framework for the establishment of an international financial centre in Moscow by 2008–2009.
According to the head of state, the impact of the financial crisis on world markets has led us to question the leadership of traditional financial centres and their ability to resolve the situation. At the same time, he stressed that over the past six years the Russian economy has maintained macroeconomic stability and demonstrates a high rate of GDP growth, the Russian stock market has grown, and its banking system has become stronger. Listing Russia’s competitive advantages, the President included Russia’s convenient geographical position and the consistent diversification of its economic structures, as well as its close, multifaceted relationships with most leading countries, both developed countries and those with economies in transition.
Dmitry Medvedev said that the establishment of such a centre in Russia will help modernise the country’s financial infrastructure, transform the Russian market into an international financial platform in the region that could potentially compete in global markets, and increase the level of integration with the CIS and other countries.
The head of state also requested that the government cabinet and Central Bank do everything necessary for the influx of additional funds into the financial market.