Investment restrictions in the Vologda oblast’s forest industry complex and ways to eliminate them

The forest industry complex is one of the key intersectorial complexes of the Vologda Oblast. Due to the availability of forest resources, the region is included in the Strategy for the Development of the Forest Complex of the Russian Federation until 2030. At the same time, the region’s forest industry complex is experiencing a number of structural constraints, which are exacerbated by anti-Russian sanctions. In connection with all of the above, its development becomes one of the main objectives of the structural policy of the oblast. Its solution requires appropriate investment in production, but now there is an investment hunger in this area. The aim of the study is to develop and substantiate ways to eliminate investment constraints in the forest industry complex of the Vologda Oblast. To achieve the aim, the following tasks are required: analysis of the current state of investment in the forest industry complex, identifying their key problems and proposing measures to address them. The study was conducted, using methods of analysis, synthesis, comparison and generalization. The paper characterizes the state of the forest industry complex from the position of production capacity utilization, the state of fixed assets, the volume of shipped goods. The analysis of such indicators as the volume and structure of investment in fixed capital of the forest industry complex of the Vologda Oblast was carried out. The conclusion about the nature of the investment dynamics in fixed capital is made. The main measures to increase the investment attractiveness of the region’s forest industry complex are proposed. Scientific novelty of the study is to identify key modern patterns of investment processes development in the forest industry complex of the Vologda Oblast. The information base of the study was the data of the Federal State Statistics Service, the Central Bank of the Russian Federation, and strategic documents of the Russian Federation and the Vologda Oblast.