Analysis of the practice of creating a favorable investment environment in a region (on the example of KHMAO-Yugra)

In modern conditions, investments are recognized as the primary factor of economic growth of the Russian Federation, through which it is possible to ensure the intensification of manufacture of highly competitive products, conditions for high-quality economic growth, social stability and environmental safety. New guidelines for the development of the modern economy come to the fore when forming the concept of economic policy of the Russian Federation. The need for reorientation is explained by the fact that the raw-materials model of the economy is based on the functioning of large raw-materials enterprises. This circumstance is due to the focus of economic growth, which makes it possible to focus resources on priority state problems and develop conditions for improving market institutions. At the same time, the modern resource-oriented economy strongly depends on the structure and conditions of the world market of raw materials for import purchases. The author's approach is to consider the issues of managing the investment attractiveness of the northern region in the context of the most relevant and modern factors. This makes it possible to identify priority industries for investment and implement investment projects that ensure maximum return on invested funds at a risk level acceptable to the investor. According to the author, the investment attractiveness of the region is a multidimensional, multifactorial economic category, which is reflected by a set of irreducible indicating parameters. The system for managing the investment attractiveness of the region should also be a multi-level one, and it should have a differentiation of the tasks of management bodies. Based on the above, we can formulate a research hypothesis: the administrative environment of the subject of the Russian Federation should be continuously improved in order to attract real investments to the region. At the same time, state policy measures in the field of increasing the investment attractiveness of regions should be focused on the introduction of organizational mechanisms that increase the effectiveness of existing programs. The present study is based on the Khanty-Mansiysk Autonomous District - Yugra and can be used as practical recommendations for the formation of investment policy in the northern oil and gas producing regions of Russia.