Regional Investment Projects Research Articles

Information Support for Decision-Making in the Management of Regional Investment and Construction Projects: A Systematic Approach

Information Support for Decision-Making in the Management of Regional Investment and Construction Projects: A Systematic Approach

Screening-Evaluation of Regional Investment Projects for the Provision of State Financial Support Measures

The object of the study is regional investment projects (RIPS). The subject of the study is a methodological toolkit for assessing the investment attractiveness of regional projects, including criteria, indicators, methods and stages of making informed decisions about government financial support measures in relation to them. The relevance of the study is due to the state’s interest in the socio-economic development of regions under the conditions of sanctions pressure and the need to ensure effective spending of budget funds allocated to regional investment projects, which requires the formation of new methodological recommendations for evaluating projects implemented within the framework of state financial support measures. The purpose of the study is to develop methodological recommendations for screening and evaluating regional investment projects in order for public authorities to make informed decisions on providing financial support. The methods of comparative analysis, classification, regulatory regulation, statistical indicators, screening and investment assessment, and the method of hierarchy analysis were used. Methodological recommendations on screening assessment of regional investment projects are proposed, within the framework of which: 1) the characteristics of RIP are identified and their classification is considered; 2) the criteria for assessing the investment attractiveness of the project and its contractor (partner) are defined: general (the purpose of the RIP, its significance, the quality of project documentation) and special (economic, budgetary, social, environmental efficiency, performance feasibility, compliance with ESG principles of doing business, business image); 3) evaluation indicators and their thresholds, the achievement of which means the expediency of investing budget funds in the project. It is concluded that in order to make a decision on the provision of state financial support to RIP, it is necessary to achieve target values by indicators corresponding to three components: “State” (customer), “Project” and “Partner (contractor). At the same time, using the hierarchy analysis method, it was found that the investment attractiveness of the contractor has the greatest importance (weight) when choosing a project. The choice of the performer is based on screening of applicants according to the specified criteria.

Effectiveness of Public-Private Partnership Projects During the COVID-19 Pandemic

The purpose of the study is to assess the effectiveness of public-private partnership (PPP) projects during the COVID-19 pandemic, taking into account the specificities of the industry. The empirical research base included the main characteristics (contract price, federal district of the project, customer, general contractor, project start period, project start year, project deadlines, price reduction during project implementation, application security, contract security and type of activity) of 144 regional investment projects. The research methodology included mathematical modeling using the DEA (Data Envelopment Analysis) data convolution method, on the basis of which an efficiency index was assigned to each PPP project from 0 to 1. The study concluded that prior to the COVID-19 pandemic, regional investment projects received more funding; after the start of the COVID-19 pandemic, the implementation time of regional investment projects has increased, the contract value more often changes downwards during the project implementation; and the average support for a project application has increased. The efficiency of implementation of regional investment projects, calculated using the DEA method, was reduced. The results obtained will be useful to private investors and government authorities when implementing joint projects to improve their efficiency.

Cluster Model for Establishing Special Economic Zones in Ukraine under Modern Conditions (Global Experience)

Object: Clusters are a relatively new form of organization, risk and profit sharing, and competitiveness enhance ment for both the global and Ukrainian economies. The potential of the cluster development model is significant, and, most importantly, it has been justified in developed countries worldwide. In particular, global practice confirms that the functioning of the most prosperous economies is supported by advantages in modern production technologies and man agement. Therefore, successful development of any level is possible through the comprehensive application of modern strategic management concepts. Thus, the object of the study is to reveal and substantiate the effectiveness of cluster model in establishing special economic zones in Ukraine. Methods: The paper uses general scientific and special methods, that are: the dialectical method of understanding cluster model for establishing special economic zones; comparative analysis methods; methods of empirical research, methods of statistical and structural analysis; methods of historical and logical analysis; identifying individual parts of an object, methods of system approach, identifying cause-and-effect relationships. Findings: Custers are established on the base of a unique internal environment and infrastructure specific to a par ticular region. This allows leveraging the competitive advantages of enterprises in a specific area through integration. A cluster serves as a stimulus for economic development, and regionalism forms the basis for its sustainable growth. Re gionalism is of great significance in selecting priority investment areas, as it can influence the level of uncertainty risk during the assessment of regional investment projects. Its effectiveness is confirmed by cluster development of the child nutrition project presented in the paper (Ivano-Frankivsk region, Ukraine). Conclusions: Cluster approach makes it possible to use available resources more efficiently. The cluster approach is connected with the policy of capacity-building as well as increasing competition profitability of national economies. There are also some cluster formations on the territory of Ukraine. Сluster is a convenient form of organizing a free economic zone. At the same time, each government develops its own approaches to the creation of clusters and regula tion of their activities, accordingly, organizes the activities of those responsible for the implementation of the national strategy of sustainable competitive development.

Модели оценки и классификации региональных инвестиционных проектов, реализуемых в рамках концессионных соглашений

Imposed wide-ranging sanctions require stricter control over the use of budget funds in order to increase the return on investment and minimise the risks of inappropriate spending. Thus, regional development based on the implementation of investment projects with public participation through concession agreements becomes particularly important. The article considers the construction of classification models for the assessment of such projects to identify high-risk concession agreements. State customers can use these models to make informed decisions when choosing a contractor and to improve the efficiency of public property management. For an objective assessment of the integrity of contractors based on financial and other factors, the study used screening models and built-in tools of the SPARK information and analytical system, as well as the methods of descriptive analysis of big data, machine learning and the nearest neighbours approach for clustering regional investment projects according to the risk of improper execution of concession agreements. The presented approach was tested on 1248 regional investment projects implemented through concession agreements. As a result, the research identified two clusters: projects with low risk (83.8 %) and high risk (16.2 %) of improper performance of obligations by the concessionaire. To assess the models’ accuracy and sensitivity to outliers, the confusion matrix and Spearman’s coefficient were utilised, which showed a sufficiently high accuracy of the resulting classification. The constructed models can be used for selecting regional investment projects, as well as for monitoring implemented projects in order to identify potential risks of their non-completion and timely take necessary response measures.

Конструктив преференциальных налоговых режимов как детерминанта привлечения инвестиций в инновационное развитие России

The subject of the study is preferential tax regimes as a factor in fulfilling the task of attracting investments in the innovative development of Russia. The purpose of the work is to justify its deepening and expansion in conditions of macroeconomic instability, external challenges and sanctions pressure and changes in tax policy directions, forms and methods of implementation, accompanied by a significant correction of such a method of attracting investments and solving problems of achieving technological sovereignty as the use of mechanisms and instruments of a preferential nature. The object of the study is fiscal instruments aimed at stimulating investment in industrial development through the use of effective innovations related to the creation and functioning of various preferential tax regimes. The research methodology is based on the theory of economic development, the place and role of tax instruments in achieving the technological sovereignty of the country. At the same time, tax preferences are considered as a broader concept than tax benefits. It is concluded that, despite the indirect impact of tax instruments, their combination and complexity of application with other economic measures of influence on the business process make it possible to achieve the tasks set. At the same time, attention is drawn to the fragmentation of decisions taken, which leads to the impossibility of effective application of such organizational forms of preferences as special economic zones/special economic zones (SEZ), regional investment projects (RIPS), special investment contracts (SPIC), agreements on the protection and promotion of investments. The targeted nature of the preferences provided as part of the recognition of the multilevel structuring of tax regulation is designed to take into account regional specifics and the needs of the development of key industries in order for the country to achieve technological sovereignty.

Формирование методического подхода к прогнозированию устойчивого развития региона

Subject/topic. The article is devoted to the scientific problem of sustainable development of the region. Issues of sustainable development have become acutely discussed in the international community at all levels of government, in connection with environmental pollution, ecosystem depletion, and climate warming. The problems of reducing the quality of life and the economic inexpediency of regional investment projects are added to environmental problems. The subject of the study is a methodological approach to forecasting the sustainable development of the region. Goals/objectives. The purpose of the study is to develop an author's methodological approach to forecasting the sustainable development of the region, taking into account its specific features and taking into account the accumulated experience in this area. Methodology. The research methodology was a systematic approach, which used: a retrospective analysis of significant indicators of regional development, approximation, statistical methods of information processing, correlation and regression analysis. The empirical basis of the study was Rosstat data on the socio-economic development of the regions. Results. The author's methodological approach to forecasting the sustainable development of the region includes methods and techniques for building an economic model and assessing its quality. A universal algorithm for the formation of an economic model for forecasting the sustainable development of the region has been developed. The selection of independent and dependent variables - factors influencing the sustainable development of the region - has been carried out. The presented economic model of forecasting the sustainable development of the region, developed on the basis of correlation and regression analysis, reflects the peculiarities of the development of a particular subject of the Russian Federation. The model is quite reliable from the point of view of statistical estimates, which makes it possible to conclude that it describes the sustainable development of the region with high probability. Conclusions/significance. The novelty of the study lies in the development of the author's methodological approach, which includes an algorithm for the formation of such an economic model, which will identify social, environmental and economic factors affecting the sustainable development of the model region and assess the degree of their influence. As a result, it was possible to identify priority areas of activity of public authorities to achieve sustainable development of the Moscow region. Application. The proposed algorithm for forming an economic forecasting model is universal and can be applied to predict the sustainable development of other regions, taking into account the assessment of the quality of the economic model. The results obtained can be useful for substantiating management decisions of public authorities on the sustainable development of regional systems, forecasting the sustainable development of the region, taking into account its specific features affecting the development of the ecosystem.

Concession as a Tool for the Implementation of Regional Investment Projects

The implementation of promising investment projects is the most important task of the regions, since innovative ideas are being implemented, production and other promising areas for the regions are developing, new jobs are being created, regional product and budget occupancy are increasing. In Irkutsk region, a significant share of investment projects falls on the industrial sector. Projects in the field of agriculture, creating a comfortable urban environment, logistics and healthcare are also of great importance. A system of financial and non-financial institutions has been formed in the Irkutsk Region to support businesses in the implementation of investment projects. A promising tool for the implementation of investment projects is a concession. The purpose of this study is to study the modern possibilities of implementing concession agreements for the implementation of regional investment projects. The article discusses the concepts and approaches to the conclusion of concession agreements; legal aspects of the conclusion of concession agreements. Particular attention is paid to the problems of concluding concession agreements for the implementation of investment projects without attracting private capital. The research methodology is based on a theoretical analysis of the main aspects of investment design and its financing tools. The information base of the study was data on the development and implementation of investment projects in the Irkutsk region. The scientific novelty lies in the identification of a new mechanism for the implementation of concession operations, which involves the creation of quasi-public structures on the rights of private ones. The practice of concession operations with regional development corporations is being studied. The article examines the experience of concluding concession agreements in the regions of Russia. Special attention is paid to the creation of the Central cluster in the Irkutsk region on the terms of a concession. This is a major investment project that includes a waste sorting and recycling complex.

THE SYSTEM OF INDICATORS FOR EVALUATING REGIONAL INVESTMENT PROJECTS FINANCED FROM BUDGETARY FUNDS

The purpose of the study. The article deals with the issues of a comprehensive assessment of regional investment projects implemented at the expense of budgetary funds. In accordance with this, the purpose of the article is to form a system of indicators that takes into account the main and additional criteria for the economic and socio-environmental effectiveness of the implementation of regional investment projects through the prism of assessing the investment attractiveness of the project and its performers. To achieve this goal , the following tasks have been set and solved: 1) the main and additional criteria for evaluating a regional investment project have been identified; 2) a system of indicators for assessing the investment attractiveness of the project and its potential performers has been developed; 3) a summary index of the feasibility of state financing of the project has been proposed; 4) calculations of indicators and a summary index have been carried out on a specific example. Conclusions. In order for the state customer to make an informed decision on the budget financing of a regional investment project, a multiplicative index of the expediency of state financing has been developed, which includes indices of the investment attractiveness of the project itself and its performer. Each index is determined on the basis of basic and additional indicators that characterize, on the one hand, the utility, economic, budgetary, social and environmental effectiveness of the project itself, and on the other hand, economic efficiency, resource potential, compliance with ESG principles of doing business and the business image of the project executor. The results obtained can be used by state and municipal authorities to make an informed decision on the appropriateness of budgetary financing of regional investment projects and their potential performers selected on the basis of the author's system of indicators and the proposed integral index.

Инструментарий контрактного подхода к инвестиционному обеспечению региона

The article presents structural and logical models of infrastructure regional benchmarking and contract modeling of regional investment projects as the main tools for improving the investment provision of the region by creating a high-quality institutional environment for investors.

Investment activity in Russian regions under sanctions and restrictions

The subject of the study is organizational, managerial, socio-economic relations that arise in Russian regions and municipalities during the implementation of investment projects under the conditions of sanctions. The purpose of the study is to analyze and develop recommendations for regional and municipal authorities on attracting investments in the conditions of severe sanctions pressure from “Western” countries on the Russian Federation. The article uses empirical research methods to identify, analyze new trends and best practices in attracting investment to Russian regions and municipalities. The authors examine in detail such aspects of the research topic as the increasing importance of attracting investment to municipalities and regions due to a significant reduction in foreign direct investment due to the imposed sanctions. Particular attention is paid to identifying sources of investment capital in Russia and in “friendly” countries. As well as creating conditions for the implementation of investment projects in Russian regions and municipalities under unprecedented sanctions restrictions. To activate investment processes, it is necessary to ensure: the development and implementation of development strategies for municipalities and regions; identification and use of “unique” natural, industrial and human resources; development of investment infrastructure; creating conditions for the relocation of modern production complexes from large cities; the preferred choice of investors from “friendly” countries and representatives of domestic businesses returning capital from Western offshores; formation of special economic zones in the regions. The novelty of the study lies in the fact that, based on an analysis of the best domestic practices, specific recommendations have been developed for regional and municipal authorities on searching and attracting investment resources to Russian regions and municipalities under the conditions of “strict” sanctions restrictions. The use of research results makes it possible to intensify the processes in regions and municipalities: attracting modern high-tech economic facilities; increasing production and financial potential; improving the quality of life of the population, etc.

Special features of territorial tax incentives to accelerate economic growth

Subject. The article addresses special aspects of territorial tax incentives to accelerate economic growth Objectives. The aim is to identify the specifics of territorial tax incentives for economic growth and develop proposals to use them. Results. The study reveals features of territorial tax incentives for economic growth. The benefits are provided from own sources of budgets of subjects of the Federation and municipalities, i.e. property taxes (corporate property tax, land and transport taxes) and income tax. The privileges are available in preferential territories (SEZ, TASED, TAD) and are granted to industrial parks, technology parks, and those implementing regional investment projects (RIP) and special investment contracts (SPIC). The paper presents recommendations for using the identified specifics. They include a differentiated approach to the development of territorial tax incentives within non-subsidized and subsidized regions; assessment of the possibility of increasing the number of non-subsidized and low-subsidized budgets based on the principles of fiscal federalism; improving the administration and control, including the use of digital technologies, to ensure an accurate assessment of tax expenditures (lost income) of the property tax budget when making decisions on the application of territorial tax incentives. Conclusions. The recommendations are addressed to regional authorities and local self-governments for consideration and approval of projects of residents of preferential territories, business entities, RIP and SPIC that contribute to the acceleration of economic growth, specialists developing and improving tax incentives for economic growth.

Synergy of Investment Projects: A Cognitive Approach

An important part of the analysis of economic growth of regions is the study of the investment distribution within industries and Russian Federation regions. Carefully considered construction of extra value sequences can create positive impulses because of the synergetic effects of investment projects. The purpose of the study is to analyze the synergetic effects of regional investment projects and impulse modeling their effects on Russian economic system. Finding such effects requires complex mathematical models implementation, and usually it cannot describe all existing investment relationships. Cognitive modeling methods can become the solution of stated problem. Cognitive modeling is a combination of mathematical approaches and expert assessments. The following study includes multidimensional factor statistical analysis, which was applied to construct a cognitive map for impulse modeling. Based on investment projects in Russia, there were identified 4 main generalized economic factors. These factors were sets of closely interrelated industries. Complied factors were energy and chemical industry, mining and processing of minerals and mechanical engineering, quality of life, metalworking and woodworking. four main scenarios of investment impulses in the constructed factors were also evaluated. The growth of investment flows in the “quality of life” factor was chosen as the optimality criterion. It was revealed that the development of metal- and wood-processing provides the biggest positive effect. The conducted research shows the importance of investment synergy studying and describes a methodological approach to perform calculations.

P11.04: Evolution and Impact of Regional Investment Projects on Public Offer of Organ Procurement and Transplantation in Argentina: An Analysis From 2008 to 2021

Introduction: Argentine shows accessibility difficulties within vulnerable populations due to socioeconomic and geographical reasons. To ameliorate this problem, in 1993 it was created the Solidarity Fund for Transplants (FST) at the INCUCAI. The aim of this Fund was to create and/or strength the public transplant activity, implement financial assistance for facilitating the access to waitlists, the organ, tissues and cells transplant, development and strength cell and/or tissue banks, pre-transplant evaluation centers and histocompatibility laboratories. Herein, we evaluated the magnitude and evolution of the strengthening of the network established from the FST, through the funding of Provincial Investment Projects (PPI). Methods: This is a retrospective descriptive study from 2008 to 2021. The variables analyzed (types of projects and amounts transferred or executed) were classified by year, province and region. Data was taken from the Resource Management Unit, Coordination of the FST and the Unit of Special Programs (USP) and the INCUCAI administration. In order to compare the investments, they were dollarized according to the price of the dollar at the time of transferring the funds. Results: Results: the FST managed and financed 102 projects. The analysis showed that, except for 2018 and 2019, every year investments projects were managed, being the highest in 2021, followed by 2012 and 2013.The largest number of projects coincides with the start-up and activity of the USP, which has generated investment guides for projects and has provided technical assistance to facilitate and promote the presentation of projects. The largest amount transferred in US dollars was to 2010 (2,731,665 in 5 projects), followed by 2013 (2,731,248 in 11 projects) and 2014 (2,179,979 in 6 projects).However, the highest investment on average per project (546,333 US dollars in 5 projects) was in 2010. Regarding the type of project, there was greater investment in the generation of services, infrastructure and jurisdictional strengthening in the beginning, while for the last years reinforcements were observed in equipment, procurement and transplantation. The Central region concentrates the largest number of PPIs, followed by Northeast and NOA. The latter received the largest transfer per project on average. Conclusions: The PPIs strengthened the network and supplies of the establishments of the state public sector. There was an improvement in the installed capacity for organ procurement and transplantation in all regions of the country but unevenly distributed. Seven jurisdictions did not submit PPIs to be financed, suggesting that it will be necessary a more directed actions for those provinces. Finally, UCPE activities shows a positive impact on the generation of PPIs, which will tend to reduce waitlists for transplants and an improvement in the accessibility of the most vulnerable populations.

ИНВЕСТИЦИОННЫЕ ПРОЕКТЫ И ОСОБЕННОСТИ УПРАВЛЕНИЯ ИМИ В ЛЕСНОМ КОМПЛЕКСЕ РОССИИ

The article deals with the implementation of investment projects in the forestry complex of Russia. The classification groups of investment projects and indicators of investment activity in the industry segments of the forestry complex are presented. Despite the fact that significant growth rates of investments in the branches of the forestry complex have developed in recent years, there is a significant unrealized development potential, and they continue to remain low investment attractiveness for business. When implementing investment projects in forestry, the state often acts as the initiator of projects; investment projects in the timber industry complex are mainly implemented both by private business and with the support of the state. Investment projects in the forestry complex include state investment projects in the form of investments in forest infrastructure and in updating the technical base of forestry; public-private partnership in the form of priority investment projects, special investment contracts and regional investment projects; private business investment projects implemented in the form of capital investments, innovative investments and an increase in current assets. It has been determined that when implementing forest climate projects, the most effective mechanism for attracting investment is public-private partnership.

ИНВЕСТИЦИОННЫЙ ПОТЕНЦИАЛ И ЕГО СОСТАВЛЯЮЩИЕ

The main problem of investment policy, such as the search for sources of financing, is considered. Currently, there are quite a few potential options for attracting investment in regional investment projects, but it should be noted that not all of them can change the situation in the region. One of the main indicators determining the investment attractiveness of the territory is the investment potential of the region. The investment potential can be considered as a cumulative possibility of non-permanent industry resources that will increase the capital-labor ratio and the ability of economic entities operating with reserves of these resources to provide sustainable economic income over time. The regional investment potential includes the combined ability of own and attracted economic resources to the region to ensure, in the presence of a favorable investment climate, investment activities for the purposes and scales determined by the economic policy of the region. The concept of investment potential is considered in combination with investment risk and climate. In other words, all three components are considered together, and not each separately. With proper analysis, the investor receives information about how profitable this or that investment will be, that is, he creates a promising forecast of his income. In addition, a reasonable investor will not take unnecessary risks by acquiring assets without a preliminary assessment. Under the concept of "investing" we consider a strategic financial process, we focus the attention of society on setting tasks and goals that can determine the versatility of investment processes. The socio-economic importance of investments for determining a unified approach and economic content is shown. Measures are proposed to ensure an increase in the effectiveness of the implementation of the investment policy of the Republic of Tatarstan.

ПОВЫШЕНИЕ ЭФФЕКТИВНОСТИ ИНВЕСТИЦИОННОЙ ДЕЯТЕЛЬНОСТИ СУБЪЕКТОВ МАЛОГО БИЗНЕСА (НА ПРИМЕРЕ УЧАСТИЯ КОМПАНИЙ В РЕГИОНАЛЬНЫХ ПРОЕКТАХ)

The article deals with the issues of improving the efficiency of investment activities of small business sector entities through the participation of companies in investment projects of regional and municipal significance. An analysis of the advantages of small private businesses in the implementation of investment processes showed that small enterprises are able to help solve the most important social and economic problems of territorial entities due to natural mobility, innovative orientation, flexible tactics of behavior in the market, quick response to the needs of the consumer and partner sectors. But despite a number of obvious advantages of the small business sector, the article stated the fact that there is no desire for small businesses to participate in projects of regional and municipal significance and the predominance of strategic associations "big business – the state" in the Russian regions. In the course of the study, the reasons for the non-participation of small and medium-sized companies in projects of regional importance were attributed to: the disunity of interests of business and government structures, the unfavorable investment climate in the region of presence, the fictitious measures of state support for small businesses, the instability of the legislative system, the high tax and administrative burden on small and medium-sized enterprises, low level of mutual trust between government and business, instability of the political and economic situation in the country. A consistently negative factor for the development of investment activity in the SME sector within the framework of regional investment projects is the lack of guarantees and excessive regulatory requirements from the state. An analysis of the currently relevant results of sociological studies of federal services has shown that the most popular regional investment projects involve attracting investments in areas with the highest degree of distrust of entrepreneurs. A comprehensive assessment of the impact of natural barriers inherent in the economic activity of the small business sector and environmental factors led to the conclusion that it is expedient for small companies to participate in investment regional projects, subject to a complete transformation of the current relationship between business and government structures

МАКРОЭКОНОМИЧЕСКИЕ ИНСТРУМЕНТЫ РАЗВИТИЯ ИНВЕСТИЦИОННОЙ ПАРАДИГМЫ РЕГИОНАЛЬНОГО ЭКОНОМИЧЕСКОГО ПРОСТРАНСТВА

This study is aimed at studying a set of key components of the investment paradigm of the regional economic space, consisting of organizational management structures, regulatory framework, technologies, human resources, methods, mechanisms and tools used to attract capital and implement regional investment projects and programs. Significant disproportions in the socio-economic development of spatially localized systems (regions) that have developed over the long years of functioning of the domestic economy have led to a different level of potential for their development (including anti-crisis potential). The level of impact, synchronization and effectiveness of the implementation of the competitive advantages of the region (at the macro- and meso-levels) in the context of the investment paradigm of its spatial development ultimately determine the development of effective organizational, managerial and anti-crisis tools for the formation of a system of integration interaction of economic entities operating on its territory. Within the framework of the article, regional development institutions are studied in the context of the investment paradigm for the development of the regional economic space, general problems of the development of regional development institutions of the North Caucasus Federal District, their main tasks and activities are identified, and anti-crisis mechanisms and elements of managing the socio-economic space of the region are proposed.

Assessing the investment potential of the Chelyabinsk Oblast

Subject. This article explores the investment potential of an emerging region in the face of changes. Objectives. The article aims to determine the prospects for improving the investment climate of the Chelyabinsk Oblast. Methods. For the study, we used qualitative and quantitative research techniques. Results. Considering the investment potential as the maximum possible volume of attracted investments to the Oblast under their effective placement and as a set of factors affecting the ability to attract and use investment resources, the article presents the results of the analysis of regional investment projects for 2015–2019, changes in the total volume of attracted investments, and SWOT analysis of the Oblast. Conclusions and Relevance. The investment potential of the Chelyabinsk Oblast is estimated as high, but subject to the influence of a set of external factors. This results obtained can be used to further study the investment potential of both the Chelyabinsk Oblast and other regions.

Preferential regimes to ensure investment and innovation activity

To ensure investment and innovation, it is necessary to develop theoretical and practical aspects relating to the use of preferential investment and innovation regimes in Russia. Preferential investment and innovation regimes are both special areas of a company’s activity and special agreements which provide for guarantees and in accordance with which the fulfillment of investment obligations is regulated. Based on a comparative analysis, this article highlights the features of preferential regimes: the updated mechanism of special investment contracts (SPICs), regional investment projects (RIPs), and agreements on the protection and promotion of investments (APPIs), and analyzes their impact on investment and innovation. The results of providing preferential tax regimes and the use of SPICs and RIPs are set out below. New developments in the regulation of SPICs, agreements on the protection and promotion of investments, and the creation of special regulatory regimes (regulatory sandboxes) all help to increase investment and innovation.