The Ministry of Economic Development is a federal agency under the executive branch responsible for drafting national policy and legal regulation for:
• analysis and forecast of social and economic development
• development of business activities (including medium and small businesses), foreign economic activities (excluding foreign trade), property relations, as well as bankruptcy and financial recovery of organisations
• valuation, land relations (excluding agricultural lands), State Real Estate Cadastre, cadastral accounting and cadastral activities, cadastral valuation of land plots, state monitoring of land plots (excluding agricultural lands), state registration of real estate, geodesy and cartography
• state statistical activity, investment activity and state investment
• development of inter-state, federal targeted programmes (long-term targeted programmes), departmental targeted programmes, development and implementation of programmes aimed at the social and economic growth of the Russian Federation
• establishment and operation of special economic zones in the Russian Federation
• administration of state tangible assets, placing of orders for delivering goods, and work and services for state and municipal needs.
The Ministry of Economic Development of the Russian Federation is an authorised body of executive authority responsible for regulating valuation activities.