News / Europe

Medvedev Woos High-Tech US Firms

Multimedia

Audio
  • Senior correspondent Andre de Nesnera discusses U.S. - Russia relations

Russian President Dmitry Medvedev's meeting on Thursday with President Barack Obama in Washington is part of Russia's effort to improve economic ties with the United States.  Mr. Medvedev is hoping to attract U.S. business support for Russia's fledgling high-tech industry.

On the second day of his American visit, President Medvedev spent the morning meeting with some of Silicon Valley's top executives from Cisco, Twitter, Google, and Apple.  Mr. Medvedev's visit signals his strong interest in promoting U.S.-style technology and innovation in Russia. 

In a major speech at Stanford University, Mr. Medvedev talked about his plans to build a Russian version of Silicon Valley in Skolkova, outside of Moscow.  His goal is to attract talent and investment capital from Silicon Valley.  Speaking through a translator, Medvedev extended an open invitation to potential investors and said his government would do what it could to support them.

Senior correspondent Andre de Nesnera discusses U.S. - Russia relations:

"The task of the government is to create start-up conditions, but that's a very complicated point," Medvedev said. "Nobody can create it.  Money can't create it.  Because money is a good thing, nothing happens without money.  But in Russia, we have money and in a number of cases, big money.  But we don't have Silicon Valley.  That's why this money should be spent correctly.  They should be given to the right hands and there should be correct rules."

The Kremlin has invested hundreds of millions of dollars in the Skolkovo project and is offering unprecedented tax breaks to investors.  However, there is some skepticism over Skolkovo's chances of success.  During his visit, Russian nationals warned Mr. Medvedev that creating start-ups in Russia would be "extremely difficult."  In addition, Moscow's reputation for entrenched bureaucracy and corruption could scare away potential investors.  Mr. Medvedev sought to allay those concerns and said Skolkovo would be protected as a new town with its own regulations and tax code.

"That's why I introduced into parliament a special law about Skolkovo," he explained.  "Maybe that will be an extraordinary decision, but there will be special tax regime-implemented preferences, special procedures of registration, special procedures of control, even special jurisdictional procedures.  If they are performed, I'm sure the project will be a success.  But in the end, everything depends upon people.  If you are ready to help in this project, it has all the chances to be implemented."

Before his visit ended, President Medvedev won commitments of support from some of Silicon Valley's leaders.  Cisco Systems pledged to invest $1 billion into Russia, in the next decade.  Twitter announced plans to expand in Russia.  And, California Governor Arnold Schwarzenegger agreed to send entrepreneurs to Moscow to learn about investment opportunities.  Mr. Medvedev meets with President Obama in Washington, before heading to the G8 and G20 summits in Canada.

You May Like

Turkey's Controversial Reform Bill Giving Investors Jitters

Homeland security reform bill will give police new powers in search, seizure, detention and arrests, while restricting the rights of suspects, their attorneys More

Audio Slideshow In Kenyan Prison, Good Grades Are Path to Freedom

Some inmates who get high marks could see their sentences commuted to non-custodial status More

Ali Regained Title in Historic Fight 40 Years Ago

'The Champ' knocked Foreman out to regain crown he had lost 7 years earlier when US government accused him of draft-dodging and boxing officials revoked his license More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Victorious Secularists Face Challenge to Form Government in Tunisiai
X
Henry Ridgwell
October 30, 2014 11:39 PM
Official results from Tunisia show the Islamist Ennahda party has failed to win the second free election since the so-called "Arab Spring" uprising in 2011. Ennahda, which handed power to a government of technocrats pending the elections, lost out to the secular party Nidaa Tounes. Henry Ridgwell reports from London that the relatively peaceful poll offers some hope in a volatile region.
Video

Video Victorious Secularists Face Challenge to Form Government in Tunisia

Official results from Tunisia show the Islamist Ennahda party has failed to win the second free election since the so-called "Arab Spring" uprising in 2011. Ennahda, which handed power to a government of technocrats pending the elections, lost out to the secular party Nidaa Tounes. Henry Ridgwell reports from London that the relatively peaceful poll offers some hope in a volatile region.
Video

Video Africa Tells its Story Through Fashion

In Africa, Fashion Week is a riot of colors, shapes, patterns and fabrics - against the backdrop of its ongoing struggle between nature and its fast-growing urban edge. How do these ideas translate into needle and thread? VOA’s Anita Powell visited this year’s Mercedes Benz Fashion Week Africa in Johannesburg to find out.
Video

Video Smugglers Offer Cheap Passage From Turkey to Syria

Smugglers in Turkey offer a relatively cheap passage across the border into Syria. Ankara has stepped up efforts to stem the flow of foreign fighters who want to join Islamic State militants fighting for control of the Syrian border city of Kobani. But porous borders and border guards who can be bribed make illegal border crossings quite easy. Zlatica Hoke has more.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.

All About America

AppleAndroid