Government Support as a Factor in Attracting Investments in Agriculture of Yakutia

The article provides an overview of individual methods and tools of government support for agriculture used by one of the North Arctic regions of Russia – Yakutia. The experience of the region shows that achieving the development goals of the agricultural industry and government support programs implemented at all levels, both federal and regional, are of particular importance. The study examines the theoretical foundations of government support for agriculture, the experience of foreign countries, and the current measures of government support for the agro-industrial complex of Yakutia and their impact on investments. The purpose of the article is to identify existing problems in the industry and make suggestions for improvement of government support mechanisms that increase its investment attractiveness and increase the level of food self-sufficiency and independence of the region. The conclusion of the study: the government support is one of the main factors that can currently ensure the development and investment attractiveness of the agricultural sector of the Republic of Sakha (Yakutia). The effectiveness of existing measures was proved by the results. Despite the complex natural and climatic conditions, as well as significant transformations in the organizational and legal structures of agricultural producers, the region has managed to slightly, yet notably, increase the volume of agricultural production. It has also stabilized the population of certain traditional agricultural animal species in Yakutia and initiated large-scale investment projects that, while still in the early stages, are essential for enhancing the quality indicators of agriculture. The study revealed the most successful mechanisms of government support used at the regional level, as well as a focus on the need for an integrated approach to the solution of the issue of further state influence on the success of agricultural development. The authors’ suggestions, if necessary, can be used in scientific research and the development of strategic documents aimed at creating conditions for the sustainable development of the agricultural industry of Yakutia. Authors’ contribution. A.K. Efremov – analysis of the current state and dynamics of development of agriculture in the Republic of Sakha (Yakutia), study of current measures of government support at the regional level, including subsidies, preferential lending and infrastructure assistance, identification of key problems and barriers hindering the attraction of investments; N.V. Rodnina – theoretical substantiation of the need for state regulation in the agricultural sector, assessment of the effectiveness of the implemented government support programs, preparation of an analytical review of investment projects implemented with state support, development of recommendations for increasing the investment attractiveness of agriculture in Yakutia through the development of cooperation, PPP and human resources.