Strategy of investments attraction into the regions


Regions of Russia owing to the extent of the territory, unevenness of infrastructure development and resources providing are difficult to compete in investors attraction. The Standard of executive authorities activities for favorable investment climate ensuring was developed for the direction of executive authorities actions into the course of the best practices. As of the end of August, 2014 in 48 regions of Russia all minimum necessary conditions for investments attraction provided by the Standard were created. In 11 subjects more than 10 points of the Standard were introduced. Nevertheless in 5 regions 5 and less points were introduced. The situation was the best in Ural and Volga Federal Districts: the first finished completely the introduction, and in Volga federal district Samara region, Bashkortostan and Perm Territory were "lagging behind" conditionally.

Formation of investment strategy according to the results of introduction in 2013 — the first half of 2014 was among the sections of the Standard causing the greatest difficulty. We will consider the main steps necessary for the strategy preparation.

When investors attraction strategy forming it is necessary to estimate the existing capacity of the region, its advantage, strengths and shortcomings. First of all, it is the assessment of the branches presented in the region. Successful branches and enterprises will help to reveal geographical advantages of the region and the opportunities it can offer a new business. Existing delivery chains are necessary to include into the assessment of successful experience — it will help to define perspective productions which will be able to become raw material suppliers or products of already existing companies consumers. A similar analysis creates the basis for the cluster approach introduction. Cluster approach allows to lower expenses when building the value added in the production chain. Thus, the profit received on the limited territory is maximized.

Assessment of goods and services offer for end consumers has to become the following step. Perhaps, some types of goods or services are still inaccessible, but demanded among local population.

On the basis of the first two analysis stages the list of the priority investment directions is formed. Besides, the conducted analysis allows to define obviously unpromising projects for which either there will be no resources, or there will be no sufficient demand for products. When determining the priority directions it is also necessary to consider the developed or desirable image of the region.

Representatives of business community, branch departments, municipal authority bodies and other interested parties are necessary to be involved in definition of the priority direction. Business representatives, besides participation in priorities definition, can provide contacts with potential investors being their suppliers or consumers. Involvement of third-party consultants with the fulfilled techniques will help to optimize the strategy creation process.

Efficiency of investments attraction activities demands simplification of new products creation procedures. It will be promoted by drawing up the list of existing platforms for productions placement, formation of specialized economic activity preference zones, creation of specialized service on investments attraction and support of investment projects and other measures. In general, the investor has to be sure that the region has advantages which will provide profitability, and administration of the region is focused on productive interaction. The most effective communication channels with potential investors are personal contacts with the company heads, investment portals, special events running, advertising and publications in mass media.

We should mark that investment strategy existence assumes the statement of quantitatively measurable purposes, connected either with dynamics of investments volume, or with new enterprises number, or with other parameters which are authentically reflecting the situation change.

Results of the strategy implementation have to be controlled with the established frequency, and the strategy of results monitoring have to be corrected if needed.

The most successful investment strategy, according to experts of the Strategic initiatives Agency which created the Standard, are the documents accepted in Kamchatka Territory, Vologda and Voronezh Regions. Strategy of Kamchatka Territory differs with the detailed analysis of the region capacity, the current investment activity; it includes comparison with foreign countries, assessment of investment activity risks, and also assessment of investment climate from the point of view of investors. Strategy of Vologda region lays the emphasis on cluster approach at the priority directions choice. Feature of Voronezh region strategy consists in orientation to investment infrastructure creation and increase of the region appeal in general.