U.S. President Barack Obama said on Saturday he expected his Russian counterpart Dmitry Medvedev will be able to visit the Silicon Valley during his forthcoming visit to the United States.
In an interview with Vesti on Saturday program on Russia TV channel, Obama said high technologies would help create new jobs and raise living standards both in Russia and the United States.
Medvedev is expected to pay a visit to the United States in late June.
Russia considers the development of the high-tech and innovation sector its top priority and has pledged billions of U.S. dollars to finance the sector, which it hopes will end the country's dependence on raw material exports.
Medvedev recently ordered to set up a high-tech business park near Moscow as the Russian 'Silicon Valley' to ensure the country's innovation breakthroughs.
Medvedev also said residents of the Russian technological park will enjoy tax holidays during a period of ten years and will be exempt from the payment of profit tax, VAT, property and land taxes.
MOSCOW, May 8 (RIA Novosti)
