Import substitution investment projects and methods of its efficiency assessment

The article presents the author’s interpretation of the definition of “import substitution investment projects” and methods for evaluating their effectiveness. Modern economic and political conditions activate the implementation of the state program of import substitution. The need for the development and implementation of investment projects for the production of goods previously imported into the country is extremely high. Such projects are extremely important for Russia, which has been under the economic sanctions of the United States and Europe for eight years. The effectiveness of the creation of import-substituting production will affect both the development of individual enterprises that have faced the consequences of sanctions in the form of severance of relations with component suppliers, and the economy of the country as a whole. At the same time, the existing methods for evaluating the effectiveness of investment projects need to be substantially improved taking into account the unstable situation in the world.