Russian President Dmitry Medvedev said on Thursday the country needs to develop its own computer games industry.

"We cannot always count on foreign games; there is always space for them on the Russian market," Dmitry Medvedev said at a session of the Commission on Modernization and Technological Development of Russia's Economy.

He added that one of the committee's future sessions would be devoted to discussing the development of the computer technology industry.

The Russian president visited on Thursday a factory of computers and computer games producer Craftway Corporation.

He was shown the computer game "Il-2 Fighter," which is set in World War II and features Russian combat aircraft.

"This is a good way to see the development of events at that time," Medvedev said, adding that nowadays teenagers are more interested in playing computer games than reading books. Russian 'Silicon Valley' to enjoy unprecedented privileges The high-tech business park the Kremlin is setting up near Moscow as the Russian 'Silicon Valley' will enjoy unprecedented privileges and will be exempt from major taxes, President Dmitry Medvedev said on Thursday.

Medvedev was speaking at a meeting of the commission for the economy's modernization and technological development.

Medvedev said residents of the 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 until their annual sales reach 1 billion rubles ($34 million) and eventually until their accrued profits amount to 300 million rubles ($10 million).

The president also gave instructions to prepare and submit a bill to the lower house of parliament in May on the special status of the innovation center in Skolkovo near Moscow.

Medvedev said the bill would be a basic document to reflect "the special economic and legal status of the Skolkovo center.'

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.