At a meeting in the Kremlin, Dmitry Medvedev pointed out that if work is well-coordinated then it will be possible to establish a full-value financial centre in Russia within the next few years.
The head of state declared that an international financial centre located in Russia has the potential to become an international financial platform in the region that could potentially compete successfully in global markets.
The establishment of such a centre in Russia will help modernise the country’s financial infrastructure and attract additional resources – both foreign and domestic ones – to the Russian economy.
The head of state identified a number of priorities in work towards establishing a financial centre.
First of all, it is necessary to finalise the essential legal framework in 2008–2009.
The second priority activity is ensuring information transparency in markets, protecting them from the insider leaks and manipulation of prices.
The third task consists in the development of the business environment. This includes creating a convenient transport and information infrastructure, simplifying visa rules and customs regimes and – in certain situations – the registration of property rights.