The state support peculiarities of investment activity in the Republic of Crimea

Regional and branch economy

The article analyzes the current state of the investment process in the Republic of Crimea, substantiating why this process needs to be given a boost. Various sources of investment resources for the agricultural sector are examined: raised funds, borrowed funds, budgetary funds, enterprises and organizations’ own funds. The article has revealed the functional features of investments which require state support. The paper outlines the specific features of the agricultural sector in the Republic of Crimea and its importance for the regional economy; state support of different regions of the Republic should be adapted in view of these features. We have also considered the directions in which public authorities can influence the investment process: active state policy aimed at increasing the interest of youth and entrepreneurs in implementing investment projects, development of public-private partnerships, creation of a national educational system, creation of favorable conditions for work and wages and financing the public investment process. The article highlights the priority measures aimed at boosting the investment process in the agricultural sector: the development of the infrastructure directly affecting the production efficiency, state support for project activities: advisory assistance in developing investment projects, finding and attracting investors, targeted state financing of investment projects aimed at modernizing agricultural production and increasing its efficiency. We have found the goals, tasks and priorities of state support of investment activities in the agricultural sector as well as the results expected from the implementation of these directions of support. We have considered three scenarios for the development of the investment process development in the agricultural sector of the Republic of Crimea: the inertial scenario where the development trends coincide with those existing in past periods, with a slight increase in introduced innovations and a slight increase in private investment; the modernization scenario accompanied by a large increase in investment rates, a change in the investment structure in favor of high-tech industries, active involvement of private Russian and foreign investments; the innovative scenario where an increase in the efficiency of human capital and an increase in the investment focus of economic growth and the creation of high-tech industries atr expected. The forecast of the development of investment process in the agricultural sector of the Republic of Crimea is presented in accordance with three hypothetical scenarios of economic development.