Methodological approach to assessing the investment attractiveness of the region's local territory

Investments in socio-economic development may be called the main basis for the Russian economy. It contributes to business development, and it is a source of regional budget revenues, but it is necessary to assess investments at the local level to understand the territory's investment attractiveness. However, currently, the attention of authorities and management bodies is primarily focused on an analysis of current investment activities in the region. All of this does not allow solving problems in an area of the region's investment development, which takes into account its attractiveness on a specific territory. In this regard, the purpose of the article is to develop a methodological approach to assessing the investment attractiveness of the region's local territory. The following work was carried out to achieve this goal. Works of many foreign and domestic scientists, which examine investment attractiveness as a subject of research of modern economic theory and practice, are highlighted. The analysis of scientific literature allowed us to identify key approaches to the characterization and assessment of the territory's investment attractiveness. As the result, it was revealed that a local aspect of assessing the territory's investment attractiveness is not so common in the global practice. A comparative characteristics of methods showed that the assessment of investment attractiveness of the region's local territory primarily consists of the usage of quantitative indicators and the rating's application. In addition, differences in the understandingof the investment attractiveness' essence create a wide variety of approaches to its assessment. The scientific novelty of the research is a developed methodology of assessing investment attractiveness of the region's local territories, based on the index approach. Its distinctive feature is the usage of indicators that characterize the security of investment decisions, which is necessary for authorities and potential investors. The method was tested on materials of the Vologda Oblast. The latter is related to a possibility of solving strategic tasks regarding investment issues and the provision of expert and analytical activities of authorities and management bodies at all levels.