In the economic sphere, Medvedev has launched a modernisation programme which aims at modernising Russia's economy and society, decreasing the country's dependency on oil and gas revenues and creating a diversified economy based on high technology and innovation.[71] The programme is based on the top 5 priorities for the country's technological development: efficient energy use; nuclear technology; information technology; medical technology and pharmaceuticals; and space technology in combination with telecommunications.[72]
In November 2010, on his annual speech to the Federal Assembly Medvedev stressed for greater privatisation of unneeded state assets both at the federal and regional level, and that Russia's regions must sell-off non-core assets to help fund post-crisis spending, following in the footsteps of the state's planned $32 billion 3-year asset sales. Medvedev said the money from privatisation should be used to help modernise the economy and the regions should be rewarded for finding their own sources of cash.[73][74]
Medvedev has named technological innovation one of the key priorities of his presidency. In May 2009, Medvedev established the Presidential Commission on Innovation, which he will personally chair every month. The commission comprises almost the entire Russian government and some of the best minds from academia and business.[75] Medvedev has also said that giant state corporations will inevitably be privatised, and although the state had increased its role in the economy in recent years, this should remain a temporary move.[76]
On 7 August 2009, Dmitry Medvedev instructed the prosecutor general, Yury Chayka, and the chief of the Audit Directorate of the Presidential Administration of Russia, Konstantin Chuychenko, to probe state corporations, a new highly privileged form of organisation earlier promoted by President Putin, to question their appropriateness.[77][78]
In June 2010, he visited the Twitter headquarters in Silicon Valley declaring a mission to bring more high-tech innovation and investment to the country