Russia's new president Dmitry Medvedev was sworn in on Wednesday, succeeding Vladimir Putin two months after he swept the country's presidential elections.

In his inaugural address at the Kremlin, Medvedev said his most important tasks would be "the development of civil and economic freedoms."

"I have just taken the presidential oath. It is given to the people of Russia, and in the very first lines is the command to respect and guard the rights and freedoms of man."

Medvedev said he will improve living standards and infrastructure, boost innovation as well as stimulate private investment and the development of industry and agriculture.

The former law professor and first deputy prime minister has pledged to continue Putin's set policies.

Putin, who has just completed his two terms as president, will take the role of prime minister on Thursday.