Investment Attractiveness Of Region Research Articles

Foreign Direct Investments in the Regions of Ukraine in the Conditions of Globalization

The importance of foreign direct investment (FDI) for the economy of the host country is demonstrated, and the advantages and risks of attracting foreign capital for the economy of Ukraine are emphasized. An analysis of the dynamics of foreign direct investment in Ukraine is carried out, with a focus on sectoral and geographical structure. Differences between the productivity of enterprises with foreign investment and that of domestic enterprises are noted. The assessment of investment potential was carried out using a multifactor comparative analysis, and a calculation of investment attractiveness is made on the basis of the standardization of indicators for the regions of Ukraine. The correspondence between the investment potential and investment attractiveness of the regions is indicated, as well as the low level of investment attractiveness of certain regions in Ukraine. Priority measures for the intensification of foreign investment activity in Ukraine in the conditions of globalization are discussed.

ТЕОРЕТИЧНО-МЕТОДИЧНІ ПІДХОДИ ДО ОЦІНКИ ІНВЕСТИЦІЙНОЇ ПРИВАБЛИВОСТІ РЕГІОНІВ УКРАЇНИ

Currently, when the Ukrainian economy is developing in an unstable, uncertain, aggressive, dynamic external environment, there is an urgent need to increase the level of investment attractiveness of each region of the country and, as a consequence, the need to increase attention to scientific and methodological support for assessing the integral indicator of investment attractiveness region. In connection with the decentralization of public administration in Ukraine, the role of local authorities in improving the socio-economic situation of its regions is increasing. In the context of real limited financial resources in the country, the problem of increasing the level of investment attractiveness of each region is becoming urgent as a characteristic that allows active investors to form an idea of the state of potential investment objects, as well as ensuring the reliability of obtaining the expected results. It should be noted that the choice of assessment indicators is subjective and depends on the goal of the investor. Such a format for solving this problem requires an assessment of the investment attractiveness of regions based on economic and mathematical modeling. Although there are many developments in this area, today there is no single effective method for assessing the investment attractiveness of the region. The work reveals the essence of the concept of investment attractiveness of a region, defines the methodological provisions of its assessment, the implementation of which requires the use of certain data from official regional statistics. Based on the basic local statistical indicators of the Kharkov, Kiev and Odessa regions of the country, a comparative assessment of their investment attractiveness was carried out. The methodological approaches and parameters determining the investment attractiveness of the regions of Ukraine have been analyzed. The information on the level of investment attractiveness of Kharkiv, Kiev and Odessa regions in 2019 has been systematised, the integral indicator of its evaluation has been defined. In the future, it is recommended to calculate the integral indicator of investment attractiveness for all regions of the country in dynamics.

Methods of the Investment Attractiveness Assessment: The Regional Dimension

The theoretical and methodological approaches as to interpretation of the essence and methods of assessment of investment attractiveness of regions are examined, which allows to assert the absence of a generally accepted scientific approach and an objective valuation of the general investment situation in the regions. Based on the analysis of modern scientific approaches to the interpretation of the essence of the concept of «investment attractiveness of region», a conclusion has been drawn about its characteristics, which are: value of using the region as a domicile of company; a combination of location advantages that can be achieved in the process of doing business and are due to the specific characteristics of the region in which the activities take place; a set of regional location advantages that influence the achievement of investor’s targets (for example, operating expenses, sales revenue, profitability); the ability to rent a place in the region; the ability to convince investors to choose a region as a place to invest; the ability to stimulate investment by offering a combination of location advantages that can be achieved in the process of doing business. The method of analysis of the cost or number of investments accomplished (or jobs created) in a particular industry to assess the investment attractiveness of the region is substantiated, which will allow to objectively determine the spatial differentiation of the inflow of foreign capital to a particular region. It is specified that when determining the weight of certain factors of investment attractiveness, the obtained values should allow to carry out a preliminary analysis of investment attractiveness, which most coincides with the actual investment activity of the regions. A generalized grouping by the level of aggregation (region, subregion, territorial community, amalgamated hromada, cities) of the categories (factors) of potential investment attractiveness is proposed.

Regional Investment Attractiveness’s Model Analysis at the Heart of Russian Investment Policy

The article analyzes the investment attractiveness of regions of the Volga Federal District in the Russian Federation using the principal component method. Indicators are selected characterizing investment attractiveness of Russian regions of the Volga Federal District. Functional dependence of the selected indicators are defined, based on which the estimation of level of investment appeal of regions of the Volga Federal District and their clustering. Recommendations for improving the investment policy of Russian regions are given.

Роль інвестицій у формуванні економічного зростання регіонів України

Investments play a huge role in the economy of any country. A necessary factor for attracting investment to the regions is the presence of a favorable investment climate in the country. The problems of increasing the investment attractiveness of regions and enhancing the investment activity of enterprises remain the most urgent. The role of investments in the overall financial system of Ukraine can hardly be overestimated. They play an important role not only in the development of economic activities of enterprises, but also have an impact on overcoming regional socio-economic problems, infrastructure development, and improvement of regional competitiveness indicators. In conditions of tough competition, it is investment resources that contribute to new construction, technical re-equipment, the development of innovative technologies, the expansion and reconstruction of production. The article analyzes the attraction of foreign investment at the regional level, identifies the most investment-attracted industries. The directions of investments in the analyzed regions are investigated. The foreign experience of several countries is analyzed. The negative reasons for the outflow of investments from the country have been identified. A number of recommendations are proposed to improve the investment attractiveness of regions.

Problems of attracting foreign direct investment into the regional economy

The article discusses topical issues of attracting foreign direct investment in the economy of the Republic of Tatarstan. The assessment of the factors affecting the investment attractiveness of Russian regions made it possible to determine the prospects for the implementation of projects with the participation of foreign investors. In conclusion, the authors highlight the successful practices of attracting foreign investment in the region’s economy.

Інвестиційна діяльність на прикордонних територіях України та напрямки її активізації

The article examines the directions of activation of investment activity in the border territories of Ukraine. The problems and obstacles to investment activity in the border regions are identified and directions of its activation are outlined. It is specified that in the process of international cooperation, including the cross-border activities, border territories play an important role and have a specific status. Regions at the present stage of economic development begin to play a significant economic, social and technological role in the formation of the territorial infrastructure of each particular country. The concepts of investment, investment climate, border region are considered. The factors of influence on the level of investment attractiveness of border regions are determined. A characterization of capital investments in the border regions of Ukraine is carried out. It is noted that the border regions have great potential for the development of investment activity, and their geographical location creates additional advantages. Priority directions of activation of investment processes in border regions and priority directions of developoing the investment potential, which would contribute to the increase of investments in border regions, are presented. It is concluded that investment is the dominant factor in the socio-economic growth of the border regions and the State in general. That is why conditions should be created at the State level that will increase investment attractiveness and, as a result, intensify investment activity. This will ensure active participation of the border regions of Ukraine in the processes of integration into the EU.

Інвестиційна привабливість видів економічної діяльності в регіонах України

The article is aimed at studying the investment attractiveness of types of economic activity in the regions of Ukraine, determining the impact of factor values (of types of economic activity) on the volume of products sold. As a result of the study, a methodical approach to the analysis and determination of investment attractiveness of types of economic activity in the regions of Ukraine is developed; the influence of factor values (of types of economic activity) on the volume of products sold is determined, the main ones are distinguished by means of correlation analysis and the significance of the selected factors of influence is checked using regression analysis. For the analysis, data was formed on the basis of official data of the State Statistics Service of Ukraine and the Ministry of Economy of Ukraine. To obtain more accurate summary results, the data was normalized in order to convert the values of signs in the input vector to a certain specified range. After the normalization, summary data for correlation and regression analysis were computed. On the basis of the carried out analysis, the economic-mathematical models of influence of investment instruments of the State budget on types of economic activity and a model of influence of investment instruments of foreign direct investment on types of economic activity in the regions of Ukraine were built. The investment attractiveness of certain regions for public investment and for foreign investments is substantiated. Prospects for further research in this direction are the analysis of the impact of other factors on the investment attractiveness of a particular region and Ukraine in general.

ASSESSMENT OF THE INVESTMENT ATTRACTIVENESS OF THE PRIORITY SECTORS OF THE UKRAINIAN ECONOMY

An important precondition for the economic development of Ukraine is the inflow of investment capital in the context of market transformations. For its part, it is possible to satiate the economy of the country with investments only in conditions of stable development of this country, because the main condition for the investor is to avoid the capital loss. For this purpose, scientists are creating rating systems for investment attractiveness of countries, regions and industries, which allow you to choose the best object of investment. Obviously, it is desirable to take into account the research results of the investment attractiveness of a country, region or industry for a successful investment project. The purpose of article is to analyze the existing methods for determining the investment attractiveness of the economy, develop a rating system of investment attractiveness of a number of the Ukrainian economy sectors and provide recommendations for increasing the investment attractiveness of the sectors of the national economy. It is used the methods and approaches such as analysis, synthesis, dialectical, systemic and comparative methods which allowed to implement the research. In a study it is described a methodology for determining the investment attractiveness of a country, region and industry. The investment attractiveness of the branches of the Ukrainian economy was investigated. The problems were identified and the rating systems of investment attractiveness of the Ukrainian economy branches was compiled. Recommendations for increasing the investment attractiveness of the national economy were given. The research of the investment attractiveness of the economy sectors will identify existing problems in attracting investments and help with their solution. The development of rating systems of investment attractiveness of the Ukrainian economy sectors will help to attract more investments, and investors could choose the best option for investing. Implementation of the developed recommendations will help improve the rating of investment attractiveness of Ukraine's economy.

Interregional differentiation of investment attractiveness in Russia: new evaluation tool

The insufficient validity of the positioning of regions in different Russian investment ratings, in particular, the observed convergence of regional assessments, is due to a number of methodological problems. The purpose of the study is to develop a tool to determine the impact of various components of investment attractiveness on the growth of investment activity in the regions and to ensure a balance of interests of the actors of the investment process (regional government bodies, private investors, the population). We developed an original system of indicators for comprehensive assessment of the investment attractiveness of regions including productional, financial, socio-economic, natural, innovative, infrastructure, and personnel components and proposed the balanced assessment method. Based on the matrix of integral indicators we show significant interregional differentiation of investment attractiveness for the North-Western Federal District and determine the key factors of investment attractiveness formation for those regions, including natural resources - for 5 regions, innovations, infrastructure and personnel for 3, production-financial factors for 2, and socio – economic factors for 1 region. The developed methodology allows to justify the priority directions of increasing investment attractiveness aimed at activating investment processes in Russia’s regions.

The role of investment in economic development

This article examines the role of investment in the development of the economy and the consequences of its impact, and develops ways to direct investment in the event of unforeseen crises.This article examines the role of investment in the development of the economy and the consequences of its impact, and develops ways to direct investment in the event of unforeseen crises. In the context of modernization of the national economy, ensuring the implementation of the goals of investment policy in the country at the macro and micro levels, not only to expand and modernize production, but also to increase the investment attractiveness of regions, enterprises, social sectors, rich mineral resources. resources, further increase the processing of agricultural products, improve the quality of manufactured products.

The impact of regional investment attractiveness and management accounting tools on investment activities of enterprises

The purpose of the study is to determine the ways which intensify the investment activity of enterprises in the Russian Far East. They performed the comparative analysis of the rating methods used in the Russian Federation to assess the investment attractiveness of the regions. It was revealed that a common characteristic of the analyzed methods is to consider the infrastructural factor and their institutional environment, and, in particular, the presence and quality of the business support infrastructure. These factors directly affect the investment attractiveness of a single enterprise and project, as they form the investor's attitude. To increase the investment attractiveness of the Russian Far East regions, it is necessary to use the experience of the Asia-Pacific countries. The work formulated recommendations on the application of Chinese experience in relation to Russian territories with preferential economic regimes. To solve the problem of efficiency, increase and intensity the investment activities of enterprises, the concept of management. accounting tool application is proposed.

Стратегия повышения инвестиционной привлекательности ресурсодефицитного региона

В статье автор обосновал цель установления «инвестиционного статуса региона». Представил совокупность действий по формированию стратегии повышения инвестиционной привлекательности ресурсодефицитного региона. Раскрыл составляющие оценки инвестиционного статуса региона. Обосновал направления стратегий повышения инвестиционной привлекательности ресурсодефицитных регионов: стратегия стимулирования инвестиционной активности, стратегия инновационного развития региона, стратегия продвижения инвестиционной среды региона. Раскрыты возможные мероприятия, реализуемые в рамках предложенных стратегий. n the article, the author substantiated the goal of establishing the «investment status of the region». He presented a set of actions to form a strategy for increasing the investment attractiveness of a resource-deficient region. He revealed the components of the assessment of the investment status of the region. He substantiated the directions of strategies for increasing the investment attractiveness of resource-deficient regions: a strategy for stimulating investment activity, a strategy for innovative development of the region, a strategy for promoting the investment environment of the region. Possible activities implemented within the proposed strategies are disclosed.

THE HIERARCHY OF MANAGEMENT OBJECTIVES AS A TOOL FOR INCREASING THE INVESTMENT ATTRACTIVENESS OF REGIONS

The article analyzes the construction of a hierarchy of twelve groups of goals implemented in regional systems of state investment management and, focused on the implementation of the strategic goal — to increase the level of investment attractiveness of regions.
 The results of the analysis showed that: in nine groups of goals out of the twelve studied, methodological approaches were applied and the required rules for building a hierarchy of goals were observed; fragments of the target orientation model of the public investment management system in the region can be considered only two groups of goals, which contain three levels of hierarchy-goals-programs, goals-plans and current specific activities; in all groups of goals, there are no criteria for achieving goals-programs and goals-plans, and the results of current specific activities; there are three groups of regions, in the first of which management systems are focused on achieving three goals-programs, in the second group they implement two goals-programs, and in the third group they implement one goal-program.
 A more detailed analysis of successfully implemented goals-plans in some environments, such as industrial and educational, in some regions will allow you to extend this experience to other territories.

Entrepreneurial activities of local governments in their investment attractiveness context – evidence from Poland

ABSTRACT This paper explores the phenomena of entrepreneurial activities of local governments such as the availability of local zoning plans, entrepreneurship support programmes or promotion of investments’ benefits in specific locations. The investigation is based on a research sample of 329 local regions from Poland selected in stratified random sampling. However, only 114 local governments (formal authorities of local regions) who responded to the mystery stakeholder communication are subject to a more detailed analysis. The findings show the differences in the potential investment attractiveness of local regions with different levels of entrepreneurial activities of local government. Moreover, local governments with higher potential investment attractiveness engage more in entrepreneurial activities.

Interconnection between the level of people’s digital quality of life and investment attractiveness of Russian regions

Digital transformation influenced not only economic branches and markets, but also people’s quality of life in different regions of the country. The purpose of the research is to evaluate people’s digital quality of life and to define its interconnection with investment capabilities of Russian regions. The authors measure digital component of people’s quality of life with a regional index including six subindices (digital skills of people, availability of digital goods for people, digital quality of working life, social sphere and services, state electronic services and safety of people informational activities). These subindices based on data from the regions of the Russian Federation were used to define the level of people’s life digitalization and to estimate the digital inequality with the application of R/P ratios and variation ratios during 2015 – 2018. This period corresponds to available data on information society and digital economy in Russian statistics. For all years of the considered period the first position is taken by safety of people informational activities and the last place belongs to digital quality of working life, social sphere and services. Digital inequality, based on four subindices, increased during 2015 – 2018. Results of research obtained with the use of econometric methods show complete or partial confirmation of connection: it is positive for investment potential indicators and the Russian regional index of digital component of people’s quality of life and its subindices. Government expenditures on the digital economy program in Russia have the worst result among other national projects. During the process of digitalization it is desirable to unite government investments, household expenditures and firm investments in order to improve regional programs performance and cope with possible disproportions.

Tools for a systematic approach to implementing cluster initiatives in real sector industries

The main problem of the innovative development of the regions of Kazakhstan is the lack of innovative activity of enterprises, which is reflected in the volume, periodicity and impact of their innovations. At the same time, the majority of enterprises belonging to the real sector of the economy have sufficient resources for the development of innovative activities. However, the prospects for their interaction with enterprises in other sectors and sectors of the economy for technology transfer are insignificant. In this connection, the studies defining the main ways and methods of forming cluster initiatives in the regional economy are relevant. The analysis of the investment activity of industrial enterprises in the region predetermined the multidimensional nature of the research methodology, the need to use methods of system, statistical, comparative and logical analysis, grouping. The practical significance of the study is to develop specific recommendations to increase the investment attractiveness of Pavlodar region through the implementation of several cluster initiatives in the real sector. The results of the study allowed to develop some recommendations on the formation of a system for the implementation of cluster initiatives in the region, differing in their adaptation to the specifics of the industry, which made it possible to identify priority areas for the development of clusters in the real sector of the regional economy.

РОЗРОБКА ТА РЕАЛІЗАЦІЯ МАРКЕТИНГОВИХ СТРАТЕГІЙ ЯК ЕЛЕМЕНТУ УПРАВЛІННЯ РОЗВИТКОМ РЕГІОНУ

The article investigates the theoretical aspects of development and usage of marketing strategies, which is the instrument of identifying the internal advantages of regions and presenting their attractiveness in order to encourage investments and accelerate their economic development as a whole. It is proved that usage of marketing tools in the regional management system can significantly affect its competitiveness. One of the main questions to be answered in the paper relates to the prospects for the application of marketing principles. The second question specifically deals with the influence of the marketing campaign on the regions image. The main papers about territorial marketing written by domestic and foreign scientists are analyzed. It was found that a significant part of domestic works relates mainly to the role of marketing in increasing the investment attractiveness of regions, focuses on the issue of marketing potential and contains insufficient practical recommendations. Foreign researchers focus on the differences between territories and goods and services as an object of marketing, branding and image of regions. Issues that need additional research are determined. The authors describe the content of marketing strategy, its main components. The expediency of application of marketing strategies in a complex with branding strategies is substantiated. In conditions of informational and creative economy the existence of the region brand becomes the necessary factor of the effective realization of territorial potential. The strategy algorithm is made, within which five steps of project realization are defined as essential to successful and sustainable regional development. The authors present the proposals for the creation of centers that will be responsible for development and implementation of marketing strategies on the base of departments for the implementation of socio-economic development projects. Additionally, possible funding sources for such structures are analyzed. The result of the scientific research develops scientific knowledge in the field of regional marketing, promotes the development and use of territorial intellectual and institutional resources for the growth of its marketing potential.

Проблемы повышения инвестиционной активности в регионах Узбекистана

The article discusses topical issues of achieving economic growth based on increasing investment activity in the regions of the country. Improving the investment attractiveness of regions is important. Analyzed the activity of domestic and foreign investors.

REGULATION OF ECONOMIC ACTIVITY IN THE REGIONS AS A TOOL FOR INCREASING REGIONAL COMPETITIVENESS AND INVESTMENT ATTRACTIVENESS OF MUNICIPALITIES

Author analyzes scientific experience and literature in the field of assessing regional economy and regional development. In this research, the author tries to explore relation between state intervention and investment attractiveness of regions. The author proposes a new Regional Investment Index, which is an instrument for measuring business environment improvement and increase in investment attractiveness. This new Regional Investment Index is an instrument that can be used not only for analysis of economic indicators, but also for improvement of state policy at the regional level. The author develops Regional investment index in order to manage regional development and direction of investment processes. Regional investment index allows for a potential comparison of municipalities by combining different approaches and dimensions and thus becoming unique. The Russian index differs of the Regional investment index because the group of determinants is structured into two indexes. On the other hand, the Asian indexes are ones which are combined and refined in Regional investment index. The new Regional investment index is sophisticated, more flexible, comprehensive and gives more opportunities for comparison at the level of local authorities and territories.