Economic rebranding and regional development strategy: Kuzbass model

The article analyzes major risks and competitive advantages related to the implementation of the Strategy for the Social and Economic Development of Kemerovo Oblast until 2025. The main internal risks include decreasing competitive capacity and, above all, the social standard of living; low innovation in the economy; large external debt; and a decrease in regional response to governance. Among the external risks are as follows: volatility of prices for primary raw materials in world markets, dependence on foreign technologies and state policy in resource extraction and use. We also assess the competitive advantages of the region. Kuzbass’s main advantage is a high hydrocarbon resource potential. The region has preserved and renovated the coal and metallurgical cluster, has not lost its potential in segments of mechanical engineering, chemical, construction supplies, and food industries. Prior to designing a new strategy for the development of Kemerovo Oblast until 2035, we discuss economic rebranding as a tool for manifesting a new paradigm and regional development concept...