Автор работы: Пользователь скрыл имя, 07 Января 2011 в 01:51, реферат
One can hardly believe that foreign investments alone can raise the economy of our huge country. On the other hand they may serve as a stimulus, a catalyst for development and growth of domestic investments. Especially this is true in case of direct investments as not only funds but also many years’ experience accumulated by investor companies in the world market come to Russia with them. Foreign investments can also help to temporarily ease monetary difficulties of the government, albeit by means of increasing foreign debts which means by growth of the country’s dependence. Finally growth of foreign investments is an indispensable concomitant of Russia’s “building’ into the world cycle of capital flow and will facilitate the country’s integration into the world economy and finding an optimal “niche” in the world division of labor.
For successful implementation of investment project in Russia it is important to ensure effective interaction and support of local (regional) authorities. This may ensure getting local tax allowances, real guarantees on return of funds, etc.
All these and other risks inherent in Russian economy are to a large extent due to the transition stage being experienced by the country and with the lapse of time will soften or disappear at all. But even today implementation of a set of organizational measures at the joint investment project elaboration stage makes it possible to minimize these risks. As the experience of the foreign investors successfully operating in Russia shows spendings on the elaboration of such measures are paid off well in the course of the project implementation.
Overcoming all these difficulties will facilitate to solve one of the main tasks Russia is facing – the task of raising competitiveness of the Russian economy on the basis of overcoming its falling behind in the investment-technological field. The solution of this task presupposes active mobilization of foreign direct investments. /9/
Under the present conditions investments become the most significant strategic recourse for the development of industrial production which is caused by their special role in economy and contradictions taking shape between the need to develop industrial complex and existing conditions and possibilities for mobilization of investment resources for these purposes.
At present there is an increase in Russia of inflow of foreign investments. Nevertheless in absolute figures foreign investments remain small and clearly do not satisfy the demands of Russian economy. This is explained by unfavorable investment climate in the country on the whole and towards foreign investments in particular. Latest federal legislative acts often are aimed at limiting foreign investments which though can be regarded as protective measures for domestic investors.
Complexity of working under Russian conditions forces foreign investors to invest money not directly but through Russian mediators (mainly banks), which know Russian markets. Poor development of direct investments leads to the situation when industrial enterprises do not receive necessary investments, sharing of advanced technologies is made difficult.
Poor development of direct investments gives rise to low competitiveness of Russian manufacture, further reduction of the share of Russian market taken up by goods of Russian make.
Certainly world economic crisis also makes a negative impact on the level of foreign investments to Russian Federation. Slowdown of growth rate of Russian economy spoils the investment climate.
As world experience testifies a well-thought-out policy of mobilizing foreign capital is the most direct and effective enough way of crisis management, the lever to accelerate socio-economic development of the country.
Having studied the problem of mobilizing foreign investments into Russian economy we may make up the following conclusions:
1. Mobilization in a large scale of national and foreign investments into Russian economy has as its long-term strategic object creation in Russia of a civilized socially oriented society with a population having a high level of life quality.
2. Foreign capital can bring into Russia the achievements of scientific-technical progress and advanced managerial experience. Therefore integration of Russia into world economy and mobilization of foreign capital are a necessary condition to build a modern civil society in the country. Therefore our state faces a complicated and delicate enough task: to attract foreign capital into the country and without depriving it of own incentives direct it using measures of economic regulation to achieve public objectives
3. Under the complicated conditions of world economic crisis it is necessary to do everything possible so that to prevent a large-scale economic recession and reasonably command all the capital available in the country including foreign one.
4. One can say that a new tendency is being shaped in the structure of the main countries investing capital into Russia. The new group of leaders includes one highly developed country (Great Britain), one developed country (The Netherlands) and two states granting preferential terms of taxation to investors (Luxemburg and Cyprus).
5. The study has shown that there is a severe problem of branch-wise “distortion” in mobilizing foreign investments. At present foreign investors in Russia guided by investing into those branches which ensure guaranteed export or quick turnover of the invested funds (oil extraction, extraction of other natural resources, trade and catering, food industry). Foreign investments do not go into those branches which mostly need them, and are of priority for the development of Russian economy (agriculture, machine building, and production infrastructure). A considerable gap in the present investment policy of Russian Federation is obvious and it manifests itself in the lack of clear-cut priorities in attracting and encouraging capital investments into high-technology branches which are the main motive power of world economy today.
Traditionally about one third of all capital used to come from countries and territories with off-shore regimes. Regional misbalance of investments remains to be a problem which is connected with considerable differentiation of regions by the level of investment risks and investment potential. A foreign investor is present in those regions of the country where domestic financial resources are concentrated (the city of Moscow – leader on attracted investments, the city of St-Petersburg), which possess considerable reserves of raw materials (Tyumen, Sakhalin regions, Krasnoyarsk Territory), which have developed infrastructure and comparatively high purchasing capacity of the population (Sverdlovsk, Chelyabinsk, Omsk regions).
Thus, the study carried out on the basis of theoretical evidence and analysis of statistical information has shown the need to improve Russia’s investment policy as positive sides of foreign investments considerably surpass negative ones.
№1. RIA Novosti 2008 kjkjkljR