Moscow to become global financial hub

[Crvena zvezda]

Moscow global financial hub
13:56 | 08/ 06/ 2008



ST. PETERSBURG, June 8 (RIA Novosti) - Plans for turning Russia's capital into a global financial hub will be drawn up in the next few weeks and presented to the leadership, a presidential aide said on Sunday.

President Dmitry Medvedev, speaking at the International Economic forum in St. Petersburg on Saturday, said that turning Moscow into a world financial center and the Russian ruble into a leading regional reserve currency are central to building a competitive financial system in the country.

Presidential economic adviser Arkady Dvorkovich, speaking to TV channel Vesti-24 on the sidelines of the forum, said the plans "are already being prepared, and in the next few weeks will be put on the desks of the prime minister and the president."

The draft document "will address all aspects of this work, including legislation, financial regulation, and tax regulation," and will offer proposals on solving infrastructure problems and measures to "attract the global financial community to the process of forming such a sector in Moscow," Dvorkovich said.

The St. Petersburg International Economic Forum, running from June 6-8 this year, is an annual event held with the support of by the Russian president, bringing together politicians and business leaders. Russian news agency RIA Novosti is the general information sponsor of the forum.