دانلود رایگان مقاله انگلیسی روش های تعیین استراتژی سرمایه گذاری منطقه - نشریه الزویر

Abstract

The region’s macro environment analysis identifies the measures that would improve the investment environment in the region and help to create an effective direct domestic and foreign investment promotion system. Based on the findings of the integrated analysis, in the decision-making stage the investment direction is selected, the implementation of which will allow achieving the stated goal. The alternatives for the implementation of the investment direction are formed. Alternatives are described using the efficiency criteria and are assessed using MCDM1 multi-criteria methods. The article presents the creation of the theoretical model of determination of the investment strategy in the context of sustainable development. The study includes an integrated regional analysis using Vilnius district as an example.

3. Conclusion

Investments are necessary to ensure the sustainable development of the region. A theoretical investment strategy selection model has been proposed to identify opportunities of increasing investment attractiveness. The model consists of four segments: macroeconomic analysis, investment climate analysis, investment strategy analysis and decision-making segment. The aim of this system is to determine the direction of development of the region when enhancing the region’s strengths and maximising the use of the opportunities, to purposefully attract investment flows, which, as suggested, might be directed towards the problematic business branches and/or problematic areas.

The suggested principle of formation of investment option and development of the system of descriptive indicators reflects the lack of relationship between indicators of practical investment promotion and sustainable territorial development. The said principle has been applied in the analysis of a specific district. Three alternatives for development of industrial-commercial areas have been formed: A1 – minimum investment, A2 – great investment and A3 – effective investment. The alternative valuation indicators, their types, aspects, directions and significance have been determined.

The literature describes several multi-criteria methods, but in order to solve real, complicated problems, one method is not sufficient. To identify the best of the alternatives formed, the task has been solved using three multi-purpose quantitative decision-making methods – TOPSIS, SAW and COPRAS (MCDM1 complex). These methods belong to one class and can be used in complex [9]. It was determined that development of the priority industrial-commercial area is considered one of the key elements in the development of Vilnius district municipality, and that this area will receive the investment needed in a relatively short period of time. There is also an on-going publicity campaign promoting Vilnius district as being attractive for investment and industry. This makes it possible to further refine a particular variant at the level of the investment project.