International Advanced Development Territories as a New Source of Investment Opportunities

Abstract

In the new political and economic realities, the key tasks for Russia are to maintain sustainable development trends in all regions, ensure smooth functioning of economic mechanisms, and increase the country's technological sovereignty. Solving these tasks requires the provision of resources, including investment resources. The reduction of investment opportunities in European markets leads to the need to compensate and seek new sources of investment in Asia-Pacific markets. This requires the expansion and renewal of investment attraction tools. In the article the authors analyze the experience of the regions of the Russian Far East in the use of territories of advanced development to attract foreign investment. The competitive advantages of the five sites in the Far East regions identified by the government for the creation of international advanced development territories have been high-lighted. It also characterizes the institutional framework, names the features of the model of international territories of advanced development, substantiates the necessity, defines the conditions for implementation of the legislative initiative of the Government of the Russian Federation on creation of a new format of preferential treatment. The authors believe that its institutionalization will contribute to the increase of investments in high value-added industries, expansion of high-tech production, which will strengthen the country's technological leadership. The authors have made a conclusion about the regularity and objectivity of trends in the expansion of tools for attracting investment in the economy of regions and the country as a whole.