Ensuring the investment attractiveness of Russian regions under the influence of international sanctions

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Scientists and analysts have been studying the investment attractiveness of Russian regions for a long time. In order to be able to predict the development of regional economy and assess its prospective growth or possible stagnation, it is necessary to assess the investment activity in the country and the investment attractiveness of its subjects. The problem raised is quite relevant at the present time, since most often the main criterion for an investor when determining an investment object is the return on investment, which should be comparable to the level of possible risk from investing capital. Investment attractiveness of Russian regions in 2020-2021 grew, demonstrating a positive trend of change, despite the consequences of the protracted pandemic and the international sanctions imposed in 2014 by the EU and the USA. However, the unprecedented international sanctions imposed by Western countries in 2022 require the development of new strategic decisions, both at the federal and regional levels of government, to ensure the transformation of socio-economic course of development and ensure the investment attractiveness of business entities. The current problem of import substitution in many sectors of Russian economy is also relevant in the investment sphere, first of all, it requires a reorientation of investment flows towards domestic economic entities. In this article, we will consider the issues of the formation of investment attractiveness and the investment climate in the regions of the Russian Federation under the current international sanctions. The destruction of a large economic system always has a negative impact on its investment attractiveness. In this regard, it is advisable to consider the factors of external and internal orientation that affect the investment attractiveness of the region, as well as assess the favorable and negative impact of these factors.