Press centre News

On March 16-17, at the Digital October, the Moscow International Financial Center strategic session was held.

The main objective of the event was to determine the priorities for the development of the Moscow International Financial Center (MIFC). The event teamed up leading economic experts, heads of the major Russian and foreign financial companies, as well as government officials who worked out a detailed roadmap of the project.

The strategic session workgroups, involving representatives of business, federal and Moscow state authorities, social organizations, as well as experts, drafted proposals for the development of the city, including institutional environment, technological innovations, and infrastructure upgrading as part of the MIFC project.

Albert Eganyan, Managing Partner at VEGAS LEX, was a moderator of the workgroup on the development of the legal regulation framework for the project. The development plan addressed the judicial system matters, included proposals on the legislation amendments, and offered day-to-day management solutions. The workgroup results identified the main directions of the development: introduction of a regulator role, strengthening of out-of-court and administrative procedures, promotion of mediation (with the government agencies participation as well), establishment of the international commercial (arbitration) MIFC court, shifting the jurisdiction  of "white collar" crimes fromthe Ministry of the Interior.

Igor Shuvalov, The First Vice Prime Minister, and Alexander Voloshin,  Head of the Working Group on the MIFC in Russia under President's Council on Financial Market Development of the Russian Federation, summarized the results of the event. The speakers thanked the participants for their productive and interesting ideas which soon might be implemented in real life. Alexander Voloshin commented on this: "The project objectives should be ambitious. If there is political will, if there is a clear plan, supported by the government and society, as well as the professional environment, these goals become achievable, even if they are extremely ambitious."