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Moscow to be global financial center, city's Mayor says
RBC, 26.05.2008, Moscow 10:49:49.Moscow will be among the world's five largest financial centers by 2025, the Russian capital's Mayor Yury Luzhkov said during today's international conference on Moscow's prospects as an international financial center. For this purpose, a program for the city's development must be devised, Luzhkov said. He also suggested establishing an agency for the development of an all-Russian international financial center. Moscow meets all the requirements for playing a key role in the international financial system, as over 75 percent of Russian commercial banks are located in the city, Luzhkov noted. He added that, in order to achieve this target, several steps would be taken, such as increasing spending on road infrastructure, developing Moscow's airports, and completing the construction of an international business center Moscow City.
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