Russian president Dmitry Medvedev delivered a speech at St. Petersburg International Economic Forum and said that the new Russia is 20 years old completely this year. After the Soviet Union and its planned economy collapsed, the state has achieved great progress.

He pointed out that in the Soviet period, the proportion of the private economy was nearly zero, but at present is more than 60%. The national debt of the Soviet Union was once 1.5 times of the annual GDP, but now it has been reduced to less than 10%. Besides, the state has implemented many reforms in short time which can not be matched by many other countries at scale. Russia has experienced the transition from the state pricing model to standard market pricing model, from tough supervisor on the currency markets to one of the most liberal countries in the currency model around the world, from closure to the foreign capital to the accumulation of total foreign investment up to $300 billion.

Medvedev also claimed that the state will provide the opportunity to those investors and entrepreneurs who have business on a substantial scale in Russia to obtain long-time visas. Of course, those participants in the projects of Skolkovo Innovation Center and Moscow International Financial Center are included.