Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities
The article considers the investment processes that take place in the foreign and Russian Arctic, the tools to attract investment and the possibility of accumulating best practices in the implementation of investment projects. Analysis of the data on planned, unfinished and cancelled projects in the...
Published in: | Economic and Social Changes: Facts, Trends, Forecast / Экономические и социальные перемены: факты, тенденции, прогноз |
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Russian Academy of Sciences, Vologda Research Center
2019
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ftdoajarticles:oai:doaj.org/article:211cf38912bb45bc8f567a5ddcedc160 2023-05-15T14:37:39+02:00 Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities Kudryashova Elena V. Zarubina Lyubov’ A. Sivobrova Irina A. 2019-03-01T00:00:00Z https://doi.org/10.15838/esc.2019.1.61.2 https://doaj.org/article/211cf38912bb45bc8f567a5ddcedc160 EN RU eng rus Russian Academy of Sciences, Vologda Research Center http://esc.vscc.ac.ru/article/28072/full?_lang=en https://doaj.org/toc/2307-0331 https://doaj.org/toc/2312-9824 doi:10.15838/esc.2019.1.61.2 2307-0331 2312-9824 https://doaj.org/article/211cf38912bb45bc8f567a5ddcedc160 Economic and Social Changes: Facts, Trends, Forecast, Vol 12, Iss 1, Pp 39-52 (2019) arctic region cross-border investment cooperation large-scale infrastructure projects kolarctic cooperation program best investment practices investment attractiveness strategy Sociology (General) HM401-1281 article 2019 ftdoajarticles https://doi.org/10.15838/esc.2019.1.61.2 2022-12-31T04:05:30Z The article considers the investment processes that take place in the foreign and Russian Arctic, the tools to attract investment and the possibility of accumulating best practices in the implementation of investment projects. Analysis of the data on planned, unfinished and cancelled projects in the Russian and foreign Arctic, including joint projects, allows us to reveal problems in cross-border investment cooperation. In the framework of global economic challenges, when discussing the opportunities for the Northern regions alternative to large-scale production and transportation, we determine the need to find new promising areas of investment, including infrastructure projects. On the basis of official, statistical and expert assessments, we analyze the priorities and directions of investment activities in the Arctic and the main tools to increase investment attractiveness and promote investment. We consider European Neighbourhood and Partnership Instrument (ENPI) Kolarctic 2007–2013 as an analytical case, since it is one of the most effective tools for providing financial support to multilateral cross-border cooperation projects in the Barents Euro-Arctic Region. The project field of the program is quite extensive and contains a variety of topics; thsi contributed to the promotion of cross-border cooperation in various fields, involvement of different target groups and stakeholders, and development of project cooperation between different sectors in the Barents Euro-Arctic Region. We find it necessary to consider foreign practice of the comprehensive use of both direct and indirect methods for attracting investments; on its basis it can be possible to create the banks of best investment practices in Russia’s Northern regions. Having revealed the inertia of investment processes in the Arctic, we conclude that it is necessary to develop a strategy to increase the investment attractiveness of the Northern territories Article in Journal/Newspaper Arctic Directory of Open Access Journals: DOAJ Articles Arctic Economic and Social Changes: Facts, Trends, Forecast / Экономические и социальные перемены: факты, тенденции, прогноз 1 (61) |
institution |
Open Polar |
collection |
Directory of Open Access Journals: DOAJ Articles |
op_collection_id |
ftdoajarticles |
language |
English Russian |
topic |
arctic region cross-border investment cooperation large-scale infrastructure projects kolarctic cooperation program best investment practices investment attractiveness strategy Sociology (General) HM401-1281 |
spellingShingle |
arctic region cross-border investment cooperation large-scale infrastructure projects kolarctic cooperation program best investment practices investment attractiveness strategy Sociology (General) HM401-1281 Kudryashova Elena V. Zarubina Lyubov’ A. Sivobrova Irina A. Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities |
topic_facet |
arctic region cross-border investment cooperation large-scale infrastructure projects kolarctic cooperation program best investment practices investment attractiveness strategy Sociology (General) HM401-1281 |
description |
The article considers the investment processes that take place in the foreign and Russian Arctic, the tools to attract investment and the possibility of accumulating best practices in the implementation of investment projects. Analysis of the data on planned, unfinished and cancelled projects in the Russian and foreign Arctic, including joint projects, allows us to reveal problems in cross-border investment cooperation. In the framework of global economic challenges, when discussing the opportunities for the Northern regions alternative to large-scale production and transportation, we determine the need to find new promising areas of investment, including infrastructure projects. On the basis of official, statistical and expert assessments, we analyze the priorities and directions of investment activities in the Arctic and the main tools to increase investment attractiveness and promote investment. We consider European Neighbourhood and Partnership Instrument (ENPI) Kolarctic 2007–2013 as an analytical case, since it is one of the most effective tools for providing financial support to multilateral cross-border cooperation projects in the Barents Euro-Arctic Region. The project field of the program is quite extensive and contains a variety of topics; thsi contributed to the promotion of cross-border cooperation in various fields, involvement of different target groups and stakeholders, and development of project cooperation between different sectors in the Barents Euro-Arctic Region. We find it necessary to consider foreign practice of the comprehensive use of both direct and indirect methods for attracting investments; on its basis it can be possible to create the banks of best investment practices in Russia’s Northern regions. Having revealed the inertia of investment processes in the Arctic, we conclude that it is necessary to develop a strategy to increase the investment attractiveness of the Northern territories |
format |
Article in Journal/Newspaper |
author |
Kudryashova Elena V. Zarubina Lyubov’ A. Sivobrova Irina A. |
author_facet |
Kudryashova Elena V. Zarubina Lyubov’ A. Sivobrova Irina A. |
author_sort |
Kudryashova Elena V. |
title |
Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities |
title_short |
Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities |
title_full |
Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities |
title_fullStr |
Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities |
title_full_unstemmed |
Cross-Border Investment Cooperation in the Arctic Region: Challenges and Opportunities |
title_sort |
cross-border investment cooperation in the arctic region: challenges and opportunities |
publisher |
Russian Academy of Sciences, Vologda Research Center |
publishDate |
2019 |
url |
https://doi.org/10.15838/esc.2019.1.61.2 https://doaj.org/article/211cf38912bb45bc8f567a5ddcedc160 |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic |
genre_facet |
Arctic |
op_source |
Economic and Social Changes: Facts, Trends, Forecast, Vol 12, Iss 1, Pp 39-52 (2019) |
op_relation |
http://esc.vscc.ac.ru/article/28072/full?_lang=en https://doaj.org/toc/2307-0331 https://doaj.org/toc/2312-9824 doi:10.15838/esc.2019.1.61.2 2307-0331 2312-9824 https://doaj.org/article/211cf38912bb45bc8f567a5ddcedc160 |
op_doi |
https://doi.org/10.15838/esc.2019.1.61.2 |
container_title |
Economic and Social Changes: Facts, Trends, Forecast / Экономические и социальные перемены: факты, тенденции, прогноз |
container_issue |
1 (61) |
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1766309864013824000 |