Improvement of State Support for Regional Investment Projects
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Abstract
This article presents the findings of a study on the mechanisms of state support for regional investment projects. A critical analysis was conducted on existing policy instruments and mechanisms of governmental support, the investment potential and associated risks across regions and cities of republican significance in Qazaqstan were calculated. The results revealed a spatial asymmetry. Alongside with this it was revealed that state authorities do not use a systematic, portfolio-based approach to the selection of regional projects, there is insufficient risk-sharing between the state and investors and have a weak monitoring–recalibration cycle. In response to these limitations, the author proposes a model based on a hierarchical approach, which envisages the project assessment process around four key criteria blocks (regional development priorities, financial indicators, impact on regional development, and quality of management).
Keywords: State Support, Investment Projects, Investment Potential, Investment Risk, IP–IR matrix, Qazaqstan.
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