Abstract
To further increase the contribution of extractive industries to the gross regional product of the Northern and Arctic regions, it is necessary to increase their efficiency through technological modernization and automation of production processes. It is shown that the structural investment and innovative industrial policy in the North should be aimed at supporting the introduction of technological innovations by enterprises, primarily in the field of more complete and integrated use of natural resources. To assess the economic feasibility of technological modernization of industrial enterprises, it is proposed to use the methodology of investment and innovation analysis, which includes three stages of management decision-making. At the first stage, preliminary goals are set to achieve the necessary level of innovative and technological development of enterprises. At the second stage, a decision is made either to further improve the existing production technology or to switch to a new technology. At the third stage, various possible options for technological renewal of production are considered and the best option is determined with its subsequent implementation in the form of an investment project.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: IOP Conference Series: Earth and Environmental Science
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
