Investment policy — is one of organic components of the economic policy. Implementation of effective investment policy in many respects depends on a strategy correctness and tactics of general economic reforms at the macro- as well as at the micro-level.
Many Russian regions with high investment potential cannot use it effectively because of a low adaptability in respect to investments.
Adaptation (adaptability) of region in respect to investments means adaptation of a region as an economical system to real economic conditions, particularly to investment climate. There can be distinguished passive adaptation of a region in respect to investments, when region responds to changes in the external economic environment and active adaptation, when region has investment impact on the external economic environment (by means of investment activity results).
Obviously, goals and purposes of the regional investment policy as well as forms and methods of its implementation in different regions can be different because of the abovementioned reasons. Along with this, there are common generalized goals and purposes of the investment policy fair for all regions of the Russian Federation.
- creation and strengthening of the investment culture and civilized investment market;
- respective leveling of conditions of the social and economic development of regions;
- maximal use of competitive advantages of regions, including environmental advantages and advantages related to resources;
- priority development of production with a strategically significant importance for economy of region and country.
In the Russian conditions, the investment policy today should ensure involving of new territories and resources in economic turnover, lessening of contradiction between city and village. It should be also told about problems concerning its formulation. There are suggestions as if attraction and effective use of investments is one of main goals of the investment policy. However, importance in the investment policy formulation is more attached to a political meaning than to a social and economical meaning. That is why regional authorities do not have serious impact on investment processes and actually do not control them.
As a rule, in many regions of Russia there is a number of obstacles in respect to attraction of investments:
- low effectiveness of use of available economic potential of regions and state property;
- high administrative barriers;
- big part of black economy and non-transparency of financial flows of a subject of the Federation;
- difficulties in the way of financial flows;
- lack of mechanism for attraction of investments.
Therefore, main goal of the regional investment policy is a creation of conditions for effective investment made in its economy based on: goodwill in relations with foreign investors, equilibrium between public and private interests, disclosure for all investors, clarity and simplicity of investment process, equal rights of investors, objectivity and common economical sense in the taken decisions, constancy in taken decisions and timely and clear fulfillment of its obligations, supporting and encouragement of investments. The regional investment policy is defined by external (political situation in the country, general economic situation, financial market state, reliability of contractors) and internal (chosen investment strategy, procurement of investment resources, personnel qualification, current management system) factors conditioning solution of a complex of tasks on stabilization of political situation in region, decline in inflation, increase of corporate investment attraction. At that, this policy should take into account competitiveness of each concrete region, that is its role in the economic space of Russia, ability to ensure deserved living standard for population and to realize economic potential of region.
In respect of methods increasing competitiveness of region on the financial market and as a consequence the investment attractiveness can be considered as a creation of consolidation system and financial resources allocation system, for example, on the basis of creation of regional investment structures on a basis of separate municipal units.
These structures could concentrate available assets and financial capital and direct them to development of territory within the scope of complex investment projects. The basis of this method forms an idea concerning necessity to reform current economic management systems.
Creation of regional investment structures will provide conditions when monetary funds of region will be kept within the territory of region and invested in development of this territorial unit.
Generally, one of important goals of the region policy on investment resources attraction is bringing of complex of economic units of region to «market look» by means of creation of the respective infrastructure: trust companies, leasing mechanisms, financial, insurance companies, etc.
According to the abovementioned, today many regions with high economic potential do not use it effectively. Accordingly, even among the basic tasks on increase of investment attraction of region there can be singled out a task on recognition of assets of a territorial unit (natural, financial, productive, social and other potentials) and current resources monitoring. At that, there should be paid a special attention to state and municipal property of subjects of the Federation and to priority of its effective use.
Sources of information
- http://www.kapital-rus.ru — the Internet-the magazine «Capital» magazine on investment opportunities of Russia».
- http://www.raexpert.ru rating Agency «Expert RA».
- http://www.government.ru/ — the website of the Government of the Russian Federation.
- http://www.globfin.ru — news of the world economy, Finance and investment.
- http://www.cfin.ru/ library management.RECOMMENDATIONS ON FORMULATION OF THE REGIONAL INVESTMENT POLICYInvestment policy - is one of organic components of the economic policy. Implementation of effective investment policy in many respects depends on a strategy correctness and tactics of general economic reforms at the macro- as well as at the micro-level.Written by: Pozdnyakov Konstantin K.Published by: БАСАРАНОВИЧ ЕКАТЕРИНАDate Published: 01/27/2017Edition: ЕВРАЗИЙСКИЙ СОЮЗ УЧЕНЫХ_31.10.15_10(19)Available in: Ebook