ke changes in regulation of the subsidies and tax benefits provision process due to the reduction of economic downturns. According to the report Investment Climate Statement - Russia of Us Department of State [1], «Russia has a body of conflicting, overlapping, and frequently changing laws, decrees and regulations, which complicates the environment for dispute resolution, moreover the laws are not always enforced in practice. The government should coordinate and oversee efforts to improve the business and investment climate, including the protection of foreign and domestic investors ».
. Establishing high-technology parks
efficient «industrial sites», industrial and technological parks, providing favorable administrative, infrastructural conditions for the implementation of investment projects - one of the most effective mechanisms to attract major investors, and, at the same time , one of the most expensive.
3. Formation of financial mechanisms to attract and support investments, tax stimulation measures
is worth to point out that the financial mechanisms are widely used in the majority of subjects of the Russian Federation. For instance, mechanisms of mortgage fund, subsidies from the regional budget to investors and others. Financial mechanisms supporting investments work in 48 regions, measures to tax incentives are taken in 39 regions, and at least one of these activities is used in 57 regions. Since 2012 these activities have been implemented, and that requires additional development in all the regions. Local administrations should provide for a real positive effects of using financial mechanisms to attract investors.
. Establishing favorable tariff conditions for investments
are only 4 out of all the regions where measures aimed at creating favorable tariff conditions have been performed. But this is only a small part of the huge country. Local governments should strengthen control in this area and make suggestions based on their own experience.
. Peopleware of the investment process
Employers usually complain about a low quality of applicants 'skills and labor shortages outside of urban centers. This is due in part to weak linkages between the education system and the labor market. In addition, the economy suffers from a general shortage of highly skilled labor. Employers in regions outside Moscow and St. Petersburg contend with a dearth of available workers. Businesses in these areas face increasing labor costs as competition over a limited pool of workers intensifies. On the other hand, a large number of inefficient enterprises with high vacancy levels offer workers unattractive, uncompetitive salaries and benefits (The report of Us Department of State Investment Climate Statement - Russia, June 2012 [1]). Some activities were provided for improving the qualifications of relevant staff in 11 regions, and these activities should be expanded. The results will be following: an increase of financial competence and effective implementation of investment projects. Existing language barriers, lack of professional knowledge in the innovation process generate unfavorable investment climate in the country. I think the creation of powerful educational institutions will lead to foun...
