The analysis of the social and economic development indices of the city of Nizhnevartovsk in the context of the cluster approach to creating the investment strategy

The study briefly traces the history of the city of Nizhnevartovsk and analyzes several economic and social development indices of the municipality. The research indicates the competitive advantages of this city providing its investment attractiveness, in particular rich natural resources and powerful production infrastructure. The author concludes that Nizhnevartovsk faces the low level of economic diversification and the unstable dynamics of a number of economic indicators. The cluster approach is adopted within the investment development strategy and is to identify the priorities for investment. The study reveals a significant contradiction between the cluster approach and the real implementation of investment projects. Based on the findings of the analysis, the author recommends options for management decisions aimed at adjusting the investment strategy of Nizhnevartovsk to eliminate its economic imbalances and keep a balance between policy documents and actual investment practice.