On rational distribution of investments in regional development projects

The article proposes a methodology for distributing investments in regional investment projects, taking into account the minimization of the imbalance of interests of stakeholders. Two parties are considered as the main stakeholders: the recipient region of investments and the investor. The proposed approach is based on the application of a modified Analytic Hierarchy Process (AHP) and linear programming. The first stage involves the assessment of the investment project according to two groups of criteria. The first group of criteria allows to evaluate the project from the investor's point of view. The second group of criteria reflects the attractiveness of the project from the point of view of the recipient region. AHP is used to form the integral criteria for each group. The second stage involves distribution of investments between regional projects in such a way that the total imbalance of interests is minimal. Distribution is carried out using the linear programming. This two-stage methodology makes it possible to formalize the procedure for selecting projects and allocating investments at the regional level.