Key Factors in Shaping the Investment Attractiveness of the Arctic Zone of the Russian Federation

The relevance of developing practical tools for assessing the impact of key factors on investment attractiveness, corresponding to the current socio-economic context, stems from the existence of significant challenges in the formation of the investment attractiveness of the Russian Arctic region, as well as its global geopolitical significance. The purpose of the study is to develop, based on the concept of a balanced scorecard, methodological tools for evaluating the influence of investment-significant factors on the investment attractiveness of the Arctic regions. The scientific novelty of this study lies in the methodological approach proposed by the authors, which allows for a comprehensive assessment of the investment attractiveness of the Arctic regions in a factorial context. The methodological basis for the study is the concept of the investment climate, which allows us to view the region as a partially self-contained system, whose investment attractiveness is determined by the influence of regional factors on attracting investments. Additionally, we use the balanced scorecard concept, which guides our study of the Arctic territories’ investment attractiveness in conjunction with key regional development factors. The main result of the study is the development of system for assessing the degree of influence of key investment factors on the attractiveness of the Arctic regions for investment. Based on the testing of the developed methodological tools, we have identified key investment factors that have a significant impact on the investment attractiveness of the Arctic regions. These factors include production and financial indicators for five specific regions, and natural resource factors for three of them. Regarding the development component that determines the prospects for investment activity, the overall indicator for six regions has a minimum value, due to the insufficient level of innovative, infrastructural, and institutional factors. A classification of key factors influencing the investment attractiveness of Arctic territories in the context of changes in the natural, climatic and socio-economic environment is presented. Based on the generated information, a study was conducted to identify directions for changing the level of investment attractiveness of the Arctic regions in a factorial context. The use of the developed methodological tools will allow us to formulate a set of measures aimed at increasing the investment attractiveness of the Arctic zone of the Russian Federation.

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