Attraction of foreign direct investment into the economy of CIS countries in the conditions of regional integration

Abstract

The goal of this article consists in the analysis of investment relations between CIS countries at the current stage, and as well as in development of proposals aimed at attraction of direct foreign investment into economy of the union in the conditions of regional integration. The article examines the peculiarities of investment process in CIS. The author outlines the common factors that delimit the expansion of economic integration within the union. The research is based on the scientific articles, databases of international organizations, analytical materials of CIS partner countries. Methodology includes such approaches as scientific abstraction, logical generalization, economic-statistical and factor analysis, clustering method, and circumstantiation. The essence of direct investment is revealed. The author suggests the original classification of foreign direct investment from the perspective of their role in the modern global economy. The role of direct investment in the development of CIS partner countries is described. The conclusion is made on the key development trends of investment relations in CIS countries. The article substantiates the need to develop agencies for attracting foreign direct investment, establish shared centers in the area of public-private partnership, as well as create joint sovereign funds and enterprises in high-tech sectors of the national economy. It is proposed to form a single specialized center for coordinating monetary policy of CIS member-states.