Abstract

The paper reviews the existing approaches to assessing investment projects at the regional level. Studies by both domestic and foreign authors are presented. The necessity of using an integrated approach in assessing regional investments is noted. The paper presents a scheme of indicators by which the assessment of regional investments is carried out. So, such indicators as: social efficiency, commercial efficiency and budget efficiency are highlighted. The purpose of the article is to identify the entire range of existing problems that arise when assessing regional investments with a view to their subsequent elimination. The whole complex of problems is presented in the form of a table where the problem is described, its brief description and directions for improvement. Thus, among the main problems, the following are highlighted: problems associated with the quantitative measurement of evaluating the effectiveness of investment projects; problems associated with assessing the risks of project implementation; problems associated with the choice of methods for calculating the effectiveness of an investment project; problems associated with the accuracy of financial and mathematical calculations; uncertainty issues; problems associated with the choice of indicators when building models for assessing the effectiveness of investments for the region. To solve certain problems, the author recommends such areas of improvement as: development of criteria for assessing the social significance of an investment project; application of modern economic and mathematical methods and models that would allow determining the influence of parametric indicators of regional investment projects on indicators of social efficiency; accounting in the model of the main macroeconomic indicators of the region's activity, both economic and social; in order to achieve accuracy in determining the effectiveness of an investment project in conditions of uncertainty, it is necessary to forecast changes in all factors that determine the implementation of an investment project at the regional level; To eliminate the existing contradictions about the optimal selection of factors when assessing the effectiveness of investments at the regional level, it is necessary to conduct a study to assess the significance of factors by means of economic and mathematical modeling. The work initiates further research towards the development of a new concept for assessing regional investments.

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