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Speech of the Russian Federation President Dmitry Medvedev at the meeting with business leaders of Russia and PRC

Dear Mr. Donald Tsang,


Dear friends,


I would like to express my gratitude to Mr. Donald Tsang for his hearty welcome.


Hong Kong is really impressive. We can see here the magnitude and the results of the work being done by a major world business and financial centre.


While preserving your historical and cultural identity, you managed to shape a well-designed and efficient economic policy, primarily through encouraging business initiative and promoting investment. This helped you to succeed along many economic parameters.


In our negotiation with Mr. Tsang, we noted that our cooperation is becoming a significant component in the overall picture of strategic partnership between Russia and China, and – which is critically important – has a positive influence on the economic environment in Asia and the Pacific.


The modern-day Russia pursues the policy of modernization and innovative development. A special role is given to attracting foreign investment.


I have recently outlined a series of new measures aimed at improving the business climate. A direct investment fund should be established in the early summer, which will co-finance the investment made by foreign funds and companies in Russian projects. Furthermore, we plan to streamline the procedure for overruling unjust decisions of Government institutions affecting businessmen; to establish the institution of regional commissioners for investment issues; and to expand the rights of minority shareholders and legislative incentives for foreign investments in certain strategic sectors.


We will continue to de-bureaucratize our economy, to fight resolutely against corruption and to remove excessive administrative barriers. And in all these areas we are interested in learning from Hong Kong’s experience.


Among the immediate priorities is launching joint economic and investment projects. First of all, in such sectors as high-tech mechanical engineering, energy efficient technologies and alternative energy sources.


Hong Kong’s businessmen could participate in the implementation of the 2009-2018 Cooperation Program between Eastern Siberia and the Far East of Russia and North – Eastern regions of the People’s Republic Of China. As well as in Russian regional development programs, including those related to the preparations for the APEC Summit in Russia due in Autumn, 2012.


Huge interaction opportunities open up in the area of research and development of state-of-the-art technologies, including within the framework of such a promising platform as the Skolkovo Innovation Centre. We are interested in the experience of Hong Kong’s companies in the protection of patent rights and commercialization of scientific developments, Hong Kong’s rich experience could help to establish an international financial centre in Moscow.


Russian companies, in the turn, are active and successfully entering the Hong Kong Stock Exchange, the most far growing in the world.


We intend to further increase our contacts in science, education and health care, as well as develop tourism and youth exchanges. It will help better understand both traditions and modern life of each other, and will contribute to enhancing multi-dimensional partnership.


The great economic potential and mutual interest in cooperation allows us to look into the future with optimism. We respect the business prowess of Hong Kong entrepreneurs and financial officials. Your ability to comprehensively assess the situation and commitment to achieving results have earned you respect and trust around the world. I am confident that our cooperation will produce concrete and mutually beneficial results.


Hong Kong, 17 April 2011


XXI St. Petersburg International Economic Forum will be held on June 1-3, 2017 in Saint Petersburg. This year, the Forum will convene under the theme "Achieving a New Balance on the Global Stage".

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