Level Of Investment Attractiveness Research Articles

THE ROLE OF INNOVATION STRATEGY IN ENSURING SUSTAINABLE DEVELOPMENT OF THE ENTERPRISE

The article discusses the role of innovation strategy in ensuring sustainable development of the enterprise. At this stage of economic development, organizations are provided with a huge number of opportunities that can be used to develop entrepreneurial activity. Rapid changes in the external and internal environment contribute to the fact that enterprises have to adapt to new conditions, as well as develop strategies for innovative business development. In this regard, the ability to develop innovative strategies is becoming a key competency that allows you to competently manage an enterprise. Competition between companies is becoming more intense, only enterprises that can develop the most effective innovative strategies will be able to take and maintain leadership positions. The role of innovation is manifested in ensuring the success of business in the long term. Innovations contribute to increasing the competitive position of the organization. Innovative strategy allows companies to take their business to a new level. It defines promising areas of development of the company, assesses its innovative potential and level of investment attractiveness, allows you to establish new areas of cooperation, helping the business to remain competitive. The development of an effective innovation strategy will allow the company to take a leadership position that will allow it to stay in today's highly competitive world. Industrial development is a priority sector for any state. Industry ensures the country's independence from a number of imported goods, provides jobs, and promotes economic stability. Any developed state will take measures to develop industry. But the industrial sector is quite complex for doing business, because it requires significant resources at the start of work, a set of skills and knowledge, and a high level of technical equipment. Against the background of the importance of the industrial sector for the life of the state as a whole and the complexity of implementing entrepreneurial tasks in this area, the formation of a concept for the sustainable development of industrial enterprises is of particular relevance. The constituent components of the sustainable development of industrial enterprises should be ensured both at the macro and micro levels. Financial and economic components of the sustainable development of industrial enterprises at the macro level imply the presence of the following factors. Ensuring the investment attractiveness of the country. Attracting foreign investors is one of the ways to ensure the sustainable development of industrial enterprises, as well as the growth of the state's economy. Development of an appropriate monetary and credit policy. A number of factors influence the sustainable development of industrial enterprises: the level of inflation, the availability of credit resources, the volume of money circulation. In the absence of effective mechanisms for maintaining stability in the monetary and credit sphere, the implementation of the directions of the concept of sustainable development of industrial enterprises is also impossible. Thus, sustainable development of industrial enterprises is one of the most important areas of work of the state authorities. The concept of sustainable development of industrial enterprises includes a number of components, some of which are already being actively implemented. Also, the concept of sustainable development of industrial enterprises should include a number of measures that contribute to increasing the profitability of the company's activities and take into account the specifics of its activities. Keywords: innovation, innovation process, innovative development, innovation strategy, enterprise, strategic management, competitiveness.

Моделювання впливу прямого іноземного інвестування на економічний розвиток країн

The article examines the impact of foreign direct investment (net inflows, net outflows) on the economic development of countries with an emphasis on modeling this impact through the gross domestic product (GDP) indicator. The aim of the study is to develop econometric models that allow to quantify the contribution of foreign direct investment (FDI) to the economic development of countries, in particular Ukraine, the countries of the European Union and the world. To achieve the aim of the study, the methodology of correlation and regression analysis was used, which made it possible to identify the relationship between FDI and the economic development of countries, to assess the significance and efficiency of foreign investment. Paired linear regression equations have been built, the significance and quality of the parameters of econometric models have been checked, in particular, the values of the correlation and determination coefficients have been calculated, and the relationship between the resulting features and dependent variables has been assessed. With the help of the Student’s t-test, conclusions are made to confirm the statistical significance of the model regression coefficients, and through the F-test, the statistical reliability of the regression equations is verified. An analysis of the impact of FDI on the GDP of Ukraine, the EU and the world revealed significant differences in the relationship between these economic variables, which can be explained by different economic and structural features. The greater impact of FDI on Ukraine’s GDP compared to the EU and the world is due to the economic structure, the level of investment attractiveness, the need for external capital and vulnerability to external shocks. It is found that a significant part of Ukraine’s GDP depends on foreign investment, which stimulates economic growth by creating new enterprises, jobs and increasing productivity. The outflow of FDI from Ukraine has a direct impact on the economic stability and investment attractiveness of the country. The article emphasizes the need for a systematic approach to modeling the impact of FDI on GDP, which will contribute to more effective economic development and stability of countries. The results of the simulation can be useful for governments, enterprises and investors in the formation of strategies for attracting and managing foreign investment.

СУЧАСНИЙ СТАН, ІНВЕСТИЦІЙНА ПРИВАБЛИВІСТЬ ТА ПЕРСПЕКТИВИ ПОДАЛЬШОГО РОЗВИТКУ ГОТЕЛЬНОГО БІЗНЕСУ В УКРАЇНІ

The purpose of the article is to diagnose the current state and determine the main trends in the development of the hotel and restaurant business in Ukraine, to assess the investment attractiveness of the hotel and restaurant business in the process of financing its development. Russia's full-scale invasion of Ukraine on February 24, 2022 threatened not only tourism in Ukraine, but also the international travel sector, which has just begun to recover from the losses caused by the Covid-19 pandemic. The tourism sector, which began to confidently recover in January 2022, significantly narrowed the opportunities for full-scale growth as early as March 2022. Both inbound and outbound tourism in Ukraine are under threat. The hotel and restaurant business as a component of the tourism industry of the domestic economy was considered, the main trends of its development, the level of investment attractiveness and prospects for further development in Ukraine were determined. Ways to solve problems with the aim of transforming the hotel and restaurant business into a highly profitable branch of the domestic economy are proposed. Sources of funding for the further development of the country's hotel and restaurant business have been determined. The current state of investment activity in the hotel and restaurant sector is analyzed through a study of the volume of capital investments made in it. The development of the tourist business in Ukraine during the martial law, which even ensured an increase in tax revenues to the country's budget, was studied. It was determined that the hotel and restaurant business of Ukraine needs constant investments to maintain competitive positions on the market, increase the level of satisfaction of consumer demand for services that meet world standards in terms of assortment and quality. The analysis of statistical data shows a steady trend of reduction in infrastructural tourism resources, and therefore, the volume of services of this sector of the economy. Such a general and regional trend gives reason to talk about the need to introduce organizational and economic measures to intensify activity. Investigated potential investment opportunities of hotel and restaurant business enterprises. A complex of measures of state regulation and improvement of management of the industry is also proposed in order to activate the development of the hotel and restaurant business. The state influences the intensification of investment activity by developing the appropriate institutional base, without which the functioning of the investment sphere is impossible, namely, the organization of investment-oriented funds, the creation of a network of consulting firms, state scientific organizations, conducting scientific research, and establishing the work of small and medium-sized business training centers. It was determined that in modern conditions of operation, it is necessary to form and implement an investment policy for the development of the hotel and restaurant industry, which would include such important components as: mechanisms of state regulation of this industry; resource provision and preferential financing of development; organizational and functional support of management processes; informational and methodical support of the industry.

Структура і потенціал логістичного сектору України

The article examines the dynamics of international trade, the investment attractiveness of markets, the development of logistics infrastructure, the principles of choosing a methodology for evaluating the development of logistics systems by region. The index of the development of the logistics market proposed by the International Financial Group "Agility", which has been successfully used for more than five years, was analyzed. The Agility Emerging Markets Logistics Index reflects the degree of attractiveness of the logistics market for investments, and the level of investment attractiveness is assessed by a set of indicators: the development of transport communications, magnitude and dynamics of development, market compatibility. The ranking of countries according to the Agility Emerging Markets Logistics Index 2023 was analyzed, including with details. It was determined that, in these difficult conditions in the domestic market, processes of transformation of logistics firms into logistics operators working with the provision of a complex of logistics services are taking place, as well as the entry of some powerful logistics operators into the market, which will contribute to the strengthening of competition and the expansion of the portfolio of offers. A significant trend is the transformation of logistics firms into logistics operators. It was concluded that there is practically no competition between retailers in Ukraine, trade networks transfer logistics functions to suppliers of goods, manufacturers compete fiercely in matters of their own presence in trade networks, which increases competition between enterprises - manufacturers and distributors, increasing the level of logistics service.The use of the services of 3PL providers by domestic enterprises with the delegation of the functions of managing supply chains and inventory to operators will be expedient under the conditions of stable markets as a significant competitive advantage, which will consist in reducing costs by outsourcing logistics as a non-core function, excluding distributors. The activity of 3PL providers is determined, conceptually, by the search for a supplier and a consumer with the transfer of supply chain management directly to the 3PL operator, who at the same time is forced to compete with a pure distributor as commercial intermediaries in the commodity market. Conversely, a distributor with developed stable sales technologies through the development of logistics functions will have advantages and the opportunity to compete in the provision of 3PL services.

ECONOMIC MECHANISM OF STATE REGULATION OF THE INVESTMENT ACTIVITY IN AGRICULTURE

The main task of the state investment strategy in the development of agriculture is to form an effective policy of state promotion of investment in the agricultural sector, which will increase the level of investment attractiveness of the farm sector. Given the study's relevance, the article aims to justify the feasibility of introducing an economic mechanism of state regulation of investment activities in agriculture by combining the levers of state regulation with financial instruments of banking institutions. The study's goals were solved using the following general scientific methods: synthesis and analysis, economic statistics, systematization, theoretical generalization, and abstraction. The information base was the work of domestic and foreign scientists, analysts, practitioners, and statistics of the State Statistics Service of Ukraine. In the article, the authors propose a model of financing investment activities based on the principles of attracting private (bank) capital. The structural and logical interpretation of the state budget savings from the introduction of the recommended financial support model for agricultural producers' investment activities is given. Based on a sample of indicators for 2010-2020, a multi-factor regression model of the dependence of Ukraine's GDP in agriculture on the factors of development of investment activity in agriculture ("the volume of investment in agriculture" and "expenditures to support state regulators of the agricultural sector"). To check the quality of the constructed model, the multiple correlation coefficient (R-squared), the test for heteroskedasticity of model residues (t-statistics), and the probability of error P(t) were determined. The student's t-test was calculated to assess the statistical significance of the correlation coefficient, and Fisher's F-test was used to test the effectiveness of the regression model. The change of GDP of Ukraine in agriculture for 2021-2024 under the conditions of state regulation of parameters of investment development in agriculture is forecasted. The proposed economic mechanism and tools for implementing the main strategic guidelines for further development of investment activities in agriculture of Ukraine is a prerequisite for determining the aid to promote this process at the local level by local governments and civil society organizations.

Innovative Determinants of the Investment Attractiveness of a Country: The Case of Ukraine

Abstract The study is devoted to the peculiarities of the investment attractiveness of a country in conditions of uncertainty. The article generalises the scientific approaches to the definition of investment attractiveness. The authors summarise the results of the international ranking of countries by the level of investment attractiveness and define the important role of innovation in ensuring a favourable investment climate. The article considers the peculiarities of the formation of investment attractiveness in Ukraine and summarises the priorities for the implementation of an innovation strategy, which will contribute to the possibility of post-crisis recovery. A promising area of further research is the evaluation of the effectiveness of Ukraine’s international partnership for the implementation of joint innovation projects in the direction of Industry 4.0.

Выявление направлений инвестиций в регионах Северо-Запада на основе данных цифровой платформы "Инвестиционные проекты"

The purpose of the research is to identify the structure of investment projects in the regions included in the Northwestern Federal District on the basis of the data of the digital platform "Investment Projects". The scientific novelty consists in determining the sectoral structure of investments in the Northwestern Federal District, based on the forms of systematization of information used on this portal. The result of the study is the identification of industry specifics of each region and the selection of three groups of regions based on the level of investment attractiveness.

FINANCIAL MARKET OF UKRAINE: STRUCTURE AND DEVELOPMENT TRENDS

The purpose of this work is to study the current state and trends in the financial market of Ukraine. Methodology. The following methods of scientific research were used: analysis and synthesis; theoretical generalization; abstraction and comparison; systematic approach. Results. The article reports that the financial market of Ukraine is in the process of formation, which is due to the uneven spatial dynamics of financial capital in the course of market reforms; heterogeneity of economic and financial space of the country; fundamental asymmetry between regions in terms of financial capacity; localization of financial institutional infrastructure; level of investment attractiveness, etc. It was found that the main problem of the financial market of modern Ukraine is the inability to provide an effective redistribution of financial resources needed to meet the challenges of modernizing the domestic economy and create an innovative impetus to the reproductive processes. Practical implications. To improve Ukraine's financial sector and boost economic growth, it is necessary to create an effective mechanism for improving banks' lending policies. To develop bank lending and create financial stability in this period it is necessary to make banking services of higher quality to improve their competitiveness; to set maximum interest rates on loans within the framework of state acts and monitor their implementation; to encourage commercial banks to lend to innovative projects; to increase the size of main assets of state banks, increase their number and strengthen their role in the financial and credit market of Ukraine, etc. Value/originality. It has been researched that the structure of the financial market is dominated by the number of companies engaged in the provision of loans, loans, financial leasing, the provision of guarantees; carrying out factoring, currency exchange and money transfer operations. For the development of bank lending it is necessary to improve banking services to improve their competitiveness; set maximum interest rates on loans within state acts and monitor their implementation; stimulate lending by commercial banks to innovative projects; increase capital resources of state banks, increase their number and strengthen their role in the financial and credit market of Ukraine, etc. These measures will contribute to the recovery of the national economy and increase the level of financial efficiency of the domestic banking system.

ПОЛІТИЗАЦІЯ ІСТОРІЇ І ЇЇ РОЛЬ В МІЖНАРОДНИХ ВІДНОСИНАХ: ТЕОРЕТИЧНИЙ ТА ЕМПІРИЧНИЙ АНАЛІЗ НА ПРИКЛАДІ ПОЛЬСЬКО-НІМЕЦЬКИХ ВІДНОСИН

Development of bilateral relations between States is a complex and multifaceted process. There are many factors to affect the quality, and sometimes-quantitative characteristics of the relationship. For example: economic feasibility (bilateral patterns of trade, economic interest in partners, and level of investment attractiveness), political expediency (to what extent the partner country is of interest to political elites or the public), image of the country within society, cultural cooperation level. To the above list, which is by no means exhaustive, historical memory should be added. Historical memory of yourself and partner's country, or how this term is articulated within a given society.

ЗАКОРДОННИЙ ДОСВІД ЗАСТОСУВАННЯ ІНВЕСТИЦІЙНИХ СТИМУЛІВ РОЗВИТКУ ХАРЧОВОЇ ГАЛУЗІ

The article proves that many scientists have studied the problems of providing investment incentives for the development of the industry, who, in particular, studied the state and prospects of foreign and domestic investment. The authors highlight key aspects of the investment process, in particular, that an important factor in building effective investment support not only in the economy, but also in any industry, are foreign investment and investment incentives. Given the above, the purpose of this study is to assess the development of investment in Ukraine based on the analysis of foreign experience of investment incentives and taking into account modern methods and technologies. Tax breaks are a popular form of investment support in the world. Today, Ukraine's closest neighbors, namely European countries, offer a wide range of investment incentives, making these countries increasingly attractive countries, including for foreign direct investment. There is a tendency to intensify competition between countries for new investment projects. Tax incentives for investment are commonly used by many countries, but most importantly, they are becoming an effective tool in countries that are Ukraine's closest neighbors and competitors for new investors. The absence or inadequate attention to such an instrument of support may jeopardize the establishment of a decent rating of Ukraine among foreign investors, even without taking into account other negative aspects in economic and political terms. Thus, today we can state two main problems in attracting foreign investment into the Ukrainian economy: the low level of investment attractiveness against the background of neighboring emerging market economies. To quickly improve this situation, attention should be paid to the most vulnerable indicators of international rankings. Until this issue is resolved, the food and other sectors will have difficulty attracting foreign investment; It is unprofitable for domestic resident investors to invest directly in domestic enterprises due to the unfavorable investment climate, which should be addressed at the state level through deregulation and changes in tax legislation. The scientific novelty of this work is the analysis of foreign experience in investment management by identifying investment incentives for development, which, in contrast to the existing, allows to determine the priority factors of investment development for Ukraine.

Correlation and regression analysis of the investment attractiveness of the petroleum refining industry

The article presents the results of the analysis of the investment attractiveness of the petroleum refining industry using correlation and regression methods. It has been suggested to evaluate the level of investment attractiveness of the petroleum refining industry through capital productivity. A system of indicators affecting the investment attractiveness of the petroleum refining has been formed in the context of resource and production, financial, economic and social groups of factors. This methodology of correlation and regression analysis for modeling factors affecting investment attractiveness has been presented. The methodology includes the construction of a pair correlation, the selection of factors, the construction of a generalised correlation matrix using the “Correlation” tool in the “Data Analysis” package Microsoft Excel, the regression analysis based on the finally selected factors, the construction of the regression equation, the justification of the obtained dependence using the “Regression” tool in the “Data Analysis” package MS Excel.According to the results of calculations for the type of economic activity “Production of coke and petroleum products” in the Russian Federation in dynamics for 2012 –2019, a strong correlation has been revealed between the output-capital ratio and such factors as the oil refining depth, profit from sales and labor productivity.The results of the study can be used to identify significant factors affecting the investment attractiveness of the petroleum refining industry in order to further optimise them.

MODEL OF EVALUATION OF INVESTMENT ATTRACTIVENESS OF THE ENTERPRISE

In the modern financial and economic conditions of business entities, ensuring the investment attractiveness of the enterprise is the key to its profitability and long-term development. The article considers the essence of investment attractiveness of enterprises. Based on the analysis of literature sources, the concept of investment attractiveness of the enterprise is clarified, which can contribute to a more accurate and clear definition of the processes associated with this activity. Under the "investment attractiveness" as an economic category should be understood as the level of efficiency of the available financial and economic resources of the enterprise, the indicators of which allow potential investors to draw conclusions about the need and feasibility of investing in the enterprise. It is found that the main components of the formation of investment potential of the enterprise are indicators of profitability, liquidity and solvency, business activity, financial stability. In the process of analyzing the literature and conducting a theoretical study identified various methodological approaches to assessing the investment attractiveness of the enterprise, among which are such classic tools as the method of sum of coefficients, the method of complex assessment, the method of sum of places. Their critical analysis is carried out, the advantages and disadvantages are determined. It is proved that the most clear and substantiated assessment of the level of investment attractiveness of the enterprise is considered in the methods based on the definition of the integrated indicator of investment attractiveness of the enterprise. This is the simplest method of analyzing the level of investment attractiveness, which requires the least time, and also allows you to quickly track negative trends in the enterprise, based on the calculation of financial ratios. It is substantiated that the assessment of the level of investment attractiveness of the enterprise should be carried out through rapid assessment, which is based on the calculation of an integrated indicator and provides analysis of the effectiveness of the main coefficients of financial condition based on comparison of marginal (critical and normal) and actual values. The proposed model of rapid assessment allows you to get an objective picture of the financial condition and efficiency of the existing investment attractiveness of the enterprise.

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.

Перспективні напрями моделювання процесів оцінки й аналізу інвестиційної складової соціально-економічного розвитку регіону

The publication is devoted to highlighting the results of the study of the existing practice of evaluating and analyzing the indicators that determine and characterize investment processes at the regional level. The carried out analysis of available methods of assessment of the investment climate of region showed that quite often in the process of research a number of factors are not taken into account, which, under other equal conditions, can become pivotal in the process of deciding whether to invest or abandon such an intention. It is proved that the size and efficiency of use of the investment climate of individual territorial systems and entire regions will depend both on the level of investment attractiveness and investment activity, as well as on investment potential and the level of investment security provided. In other words, precisely investment potential and investment security act as prerequisites and a basis for the formation and practical implementation of investment policy at both the national and the local levels. As a result of the carried out analysis of the extant approaches to solving the problem of evaluation and analysis of the main parameters and characteristics of investment activity at the regional level, the main shortcomings and weaknesses of the currently available developments are identified. This made possible to outline promising areas of analysis using the advantages and capabilities of economic and mathematical methods and models. A practical implementation of the perspective directions of analysis with the use of an appropriate economic and mathematical instrumentarium allows to form models for assessing and analyzing the investment component of the socio-economic development of region, as well as projecting scenarios for regional socio-ecological and economic development in the short and medium term.

Integrating Green Tourism and Bioenergy for Sustainable Rural Development: the Example of the Hemp Cluster in Sumy Region in Ukraine

Institutional support for the transition to sustainability, agricultural traditions, as well as land use regimes create favorable conditions for the development of bioenergy, in particular in the field of biomass related activities, in rural territories of Ukraine. The purpose of the study is to analyze the factors and substantiate the relationship between green tourism and bioenergy in the context of expanding areas of sustainable rural development, on the example of agro-tourism hemp cluster in Sumy region in Ukraine. The research methodology: the theoretical-game approaches to balance the interests of stakeholders in rural development are applied in the paper, namely in the context of renewable energy, waste management and recreational and tourism activities. SWOT analysis was also applied with rationale of strategic directions of agro-tourism clusters development in the conditions of transitive economy. The rationale of proposals for improving the institutional support of sustainable rural development at the regional level allows to form a basis for increasing the level of investment attractiveness of projects such as agro-tourism hemp cluster. Besides, recommendations for the integration of green tourism and bioenergy are focused on the advanced development of rural areas with the involvement of other sectors of the economy, in particular, waste management.

Развитие сферы культуры в документах стратегического планирования регионов Дальневосточного федерального округа

At the legislative level, it is established that the culture of Russia, as well as natural resources, is the property of the country and an important resource for the socio-economic development of all its territories and improving the quality of life of the population. Improving the management process and strategic planning of development of the sphere of culture is due to the need for more efficient use of public finances and the level of investment attractiveness of the industry. Strategic planning tools play an important role in optimizing the process of managing of the sphere of culture. The analysis of state programs and strategies sections of the socio-economic development of the eleven regions of FEFD on the development of the sphere of culture, revealed the structural and methodological problems of the development of regional strategic planning documents in the sphere of culture. The main problems include: inconsistency of the structure and content of strategies and programs with methodical instructions (recommendations) and the procedure for their development; lack of a unified methodological approach to understanding the essence and basic components of strategies and programs; lack of a unified approach to the number, composition and presentation of target indicators; insufficient level of interconnection of regional strategic planning documents. A serious problem in the development of strategies and programs is the lack of uniform requirements for indicators for assessing the implementation of strategic goals and objectives, measures of government programs, as well as an interconnected system for assessing strategic planning documents developed at different levels of management. Differences in the structural elements and inconsistencies with the stated criteria are noted in the reviewed documents of all FEFD regions. The main reason for the discrepancy – is the lack of a unified methodology for the development of both regional strategies and government programs.

Sustainable development of rural areas in the economic system of the region

The Rural development as a strategic direction economic regional policy, assumes the effective functioning of the branches of the agro-industrial complex, designed to provide the processing industry with raw materials, and, ultimately, with high-quality food for the population. Stimulating investments in the development of promising areas of the agro-industrial complex will satisfy the demand for agricultural products at affordable prices, increase the level of investment attractiveness of agricultural sectors; the level of employment of the rural population and the development of small forms of farming. The economic system of the region is a complex of interrelated and interdependent elements that are exposed to external and internal factors and are largely determined by the resource potential of the region. At the same time, the issues of self-sufficient development of regions do not lose their relevance

ЭКОНОМЕТРИЧЕСКАЯ МОДЕЛЬ РАЗВИТИЯ РЕГИОНОВ НА ОСНОВЕ МЕДИЦИНСКИХ НАКОПИТЕЛЬНЫХ СЧЕТОВ

An econometric model of the development of the regions of the Russian Federation based on medical savings accounts (MSA) has been developed. The presence of the phenomenon of multicollinearity in the model based on the correlation matrix is verified and its statistical significance is evaluated according to the Fisher criterion. The practical implementation of the developed econometric model is made on the example of the Southern Federal District and separately the Rostov region. It is shown that as a result of the practical application of the developed econometric model, the complex indicator of the level of investment attractiveness of the Rostov region increases from 1.872 to 2.084, i.e. by 11.3%, which moves it in the rating of investment attractiveness according to the evaluation methodology of the rating agency Expert-RA from ninth to sixth place. As a result of the practical application of the developed econometric model and the de-termination of the level of investment attractiveness based on the MSA, the Krasnodar region received the highest rating for the Southern Federal District, the level of its investment attractiveness according to the method of econometric modeling based on the MSA was 2.37, the Republic of Kalmykia received the lowest rating for this indicator, the investment attractiveness of this region, calculated according to the developed methodology, was 0.183. It is concluded that the highest ratings from the point of view of investment attrac-tiveness in modeling are obtained by regions that invest in the development of the MSA system, since factors that depend on the MSA have a positive impact on the assessment of the level of development of regions.

Organizational and technical factors of urban territories redevelopment

The dynamism of changes in the external environment of residential real estate objects with the simultaneous limitation of urban areas are the main prerequisite for creating new construction projects that have a high level of investment attractiveness. Such combined factors open up and increase the importance of using such a tool as redevelopment. Residential formations (complexes, districts, blocks, individual objects) are an obvious result of the artificial organization of the territory urban environment available for development. The quality of the organization of an artificial (residential) environment is determined primarily by the level of technical and moral condition of capital construction objects of residential purposes: houses, buildings, complexes, districts (micro-districts). The considered structural objects of the urban environment are exposed in the course of their functioning (operation) to certain natural and climatic, technical and technological, and social and cultural influences that lead to a certain loss of the original (established) quality of construction products. This loss of quality is expressed in the partial or complete loss of the ability of a construction object (complex of objects) to provide a comfortable and safe life for groups of the population or individuals living in the territory under consideration. Many industrial enterprises, especially old ones, are therefore unable to withstand competition and the economic component of their existence, and are not able to provide an appropriate environmental environment. In this regard, the most rational and mutually beneficial solution is considered to be the transfer of such enterprises outside the city borders, or to specially designated industrial areas, with the subsequent redevelopment of the liberated territory for the needs of the city itself, housing construction, or social and cultural or business facilities. City municipalities are also interested in this process in order to revitalize large areas that are often empty or under-used. The economic component of this process for the city, with proper redevelopment will be tax increases that will be transferred to the city from the well-functioning of the new building complex, providing the population of the city and its district the most popular services. It is particularly necessary to highlight industrial urban areas that have historical significance and contain objects of high architectural value on their territories, which give special expressiveness to the appearance of cities. In addition to social, economic, and environmental issues, the issue of redevelopment of all these territories also has a certain historical significance, including from the point of view of preserving not only the architectural features, but also the special microclimate of each particular urban district. The paper presents the results of a study of the problem of improving the efficiency of the organization of works on the redevelopment of urban territories in the conditions of existing development.

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.