Attraction of investments as the main factor in the development of the macroregion siberia

Abstract

The macroregion Siberia possess large reserves of natural resources, which makes it possible to create a modern high-tech infrastructure for their extraction and processing. The production of final products in this region can become a driving force for the development of the Russian economy in the medium and long term. Unlocking the potential of Siberia and the Far East requires significant investments comparable to the money spent by the USSR for the development of Western Siberia, the North, the Arctic and the construction of the BAM (the Baikal-Amur Mainline). The volume of public investment is insufficient for the dynamic development of the region, so to obtain additional investment funds stimulation of the private sector of the economy is required. Potential investors have the sufficient financial resources, but it is necessary to improve an investment climate in Russia. It will allow the country to attract the maximum amount of money. To improve the investment climate one should make significant changes in the management, legal, banking and other aspects of business activity in Russia.