Optimization of Approaches to the Management of Investment Projects in Regions of Russia

Abstract

High level of development of regions of Russia is impossible without effective management of investment activity at the meso-level. That’s why the purpose of the research is to study and search for optimal approaches to the management of implementation of top-priority investment projects in regions of Russia. During the study, the authors used the methods of financial and economic analysis, planning and forecast, building classifications, comparing, specification, and generalization. As a result, it was found that during management of investment activities in the regions it is advisable to use one of the two models of growth of investment activity: “Top-Down” model (in regions with low current level of economic activity and investment attractiveness) or “Bottom-Up” model (in investment attractive regions with a rather high level of business activity). Besides, the support for activation of investment process in the Russian regions should be ensured by regional structures which guarantee a complex support for investment projects (preparation of investment platforms with all necessary communications, marketing support, etc.). At that, the used tools of support for investment initiatives should be target-focused, according to territorial (sectorial) priorities. This approach will eventually facilitate the increase of investment attractiveness of the regions and formation of favorable investment climate, and will allow improving perspectives of their economic development due to emergence of new markets and participation in new spheres of economic activities.

DOI: 10.5901/mjss.2015.v6n3s6p87