Importance The research examines the contemporary macroeconomic environment the Russian entities operate in. The research presents a statistical analysis that proves that investing activity suffers from economic volatility caused with internal disparities, western sanctions, spending cuts and restricted access to sources of finance. Objectives The research aims at developing an algorithm for selecting strategic areas for the Russian entities' investment, considering the main economic development trends. Methods The research is based on a systems analysis, deduction, induction, thus allowing for comprehensive interpretation of economic indicators and identifying economic trends. Results As a result of the research, I formulated an algorithm for selecting strategic areas of investment, determined alternative investment areas and analyzed each investment project, chose priority areas, relying upon such criteria as investment resources, financial indicators, level of risks, and prepared an investment business plan, which described practical steps to effectively implement the selected areas of investment. Conclusions and Relevance The studied approach to determining the areas of investing activities is very practicable and feasible. It will enable entities to make their investment decisions more effective, reach the desired profit and mitigate investment risks.
Keywords: real investment, regional diversification, sectoral diversification, investment project, investment business plan
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