Foreign direct investment (FDI) has played a key role in the efforts to achieve a sustainable economic growth and high social and economic indicators in many countries and regions of the world. The paper focuses on the analysis of the role of foreign direct investment in the economy of Volgograd region. The author uses the comparative analysis, historical and statistical methods, and correlation analysis. The analysis of the indicators of 2011–2019 shows a small share of foreign direct investment in the gross regional product in Volgograd region in comparison with the Russian Federation, and insufficient provision of regional economy with labour resources. The comparison shows a discrepancy between the real needs and sectoral distribution of foreign direct investment in the regional economy. The research on the country and type composition of FDI in Volgograd region reveals some positive trends. The share of investments in the form of capital in comparison with the share of debt capital has increased; the share of off-shore foreign direct investment has decreased. The correlation analysis reveals a moderate or weak relationship between foreign direct investment and key economic indicators of Volgograd region, i.e. gross regional product, employment rate, average monthly income of the population, depreciation of fixed assets and labour productivity. The results show the need to develop special measures to maximize benefits from the cooperation of regional businesses and foreign investors in Volgograd region.

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