Biserov E.A.Urals Institute of Management, Branch of Russian Presidential Academy of National Economy and Public Administration, Yekaterinburg, Russian Federation biserov707@mail.ru
Tselishcheva E.F.Urals Institute of Management, Branch of Russian Presidential Academy of National Economy and Public Administration, Yekaterinburg, Russian Federation elena.tselishcheva@uapa.ru
Antygina K.V.Urals Institute of Management, Branch of Russian Presidential Academy of National Economy and Public Administration, Yekaterinburg, Russian Federation antygina_k_@mail.ru
Importance The municipal investment policy demonstrates low efficiency. It degrades socio-economic indicators of small towns by lowering production volumes, employment and the standard of living. It is critical to develop a project for improving the investment opportunities of such towns. Unfortunately, municipalities fail to pay enough attention to elaborating the project concept, formulate ideas and goals, and document the expected results. Lists of activities often include rather formalistic steps that have no relation to the main goal. Objectives This research analyzes the investment attractiveness of the town of Mednogorsk, Orenburg region, Russian Federation. It also pursues developing the project concept for attracting investment in the town. Methods We carried out a theoretical and methodological analysis of instruments used to improve the investment attractiveness of areas. The instruments were adapted considering the specifics of small towns in the Orenburg Region. The methodological underpinning comprises methods of comparative and systems analysis, regulatory and legal analysis, analysis of statistical and economic data, studies of the areas' investment opportunities, as well as analytical and data systematization methods. To set forth the main provisions of the project concept, we apply the decomposition of objectives and tasks, set up the hierarchical structure of work, conduct benchmarking and marketing of areas. Results We propose our own methods for analyzing the investment opportunities of small towns. We also present a checklist for the municipal investment policy enhancement. Conclusions and Relevance The final part contains the project concept for improving the investment potential of the small town, illustrating the town of Mednogorsk. The recommendations are versatile and suitable for other Russian cities with similar socio-economic characteristics.
Keywords: investment attractiveness, project approach, competitiveness, area, standard, ASI
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