The improvement of Russia s investment climate: problems and perspectives
Foreign investment has a significant role in the country's economic development, so Russian Government takes certain measures for encouragement of foreign investments. A lot of factors facilitate the investment climate, however, the implementation of those factors should be interconnected, otherwise the results would not be evident. One should pay attention to the aspect that the investment growth is inseparably linked with innovations in the country. At this level of the economy development an effective state policy can lead to a colossal shift of production value of innovation products in Russia. The significant feature of this innovation cycle is investment raising in different industries, including participation of foreign investors. The main idea is not so much investment raising by using natural resources and rather cheap work force of the country (this would mean that Russia will be involved in endless low-productive competition for foreign investors with many countries of «The third world»), as an opportunity of effective commercial implementation of innovation projects, and first of all in those spheres, where Russian scientific and technical researches yield to the world level. The main aim is to restore innovational potential by transfer of foreign technologies in order not only to create certain samples of science intensive, technical complicated products, but also to develop modern investment projects on the basis of foreign technological achievements, and then to produce and supply innovation products in inner and world markets with a positive effect for the country.measures that are taken on a federal level are not sufficient. Successful realization of investment projects depends primarily on effectiveness of local authorities. The strategies of the socio-economic development of the Russian Federation presuppose regional economic development by accelerating the development of both traditional and high-tech industries. Thus, 51 subjects of the Russian Federation determine the creation and development of high-tech industries as a priority of the regional policy, moreover, 14 subjects continue to place a major focus of economic development on extractive industries, in addition to this, the development of agriculture is a priority in 35 subjects of the Russian Federation.should be noted that the majority of regions implemented active investment policy in 2010-2011, improving the regional investment climate, promoting the brand of the region and contributing to the realization of investment projects in the region. However, activities started require further implementation, and it is time to identify the main directions for improving the investment climate:
. Establishing a favorable environment for investments and removing administrative barriers
majority of Russian regions were active in improving the legal regulation of the investment legislation, implemented measures to increase the transparency of the investment process in the region. As a result, 45 regions have taken measures that contributed in improving the regulatory environment. It was urgent to adopt regional law «About public-private partnership», as well as to ma...
