Strategy of the Organization of Financing of Development Priorities of the Territory, on the Example of the Arctic Zone of the Russian Federation

• Main Author: Victoria Valerievna Vlasova
• Format: Article in Journal/Newspaper
• Language: unknown
• Subjects: Arctic
• Online Access: https://www.acjournal.ru/jour/article/viewFile/355/356

The article describes the main trends in the functioning of the financial-investment mechanism of site, problems of its organization. It identifies directions of perfection of financial-investment mechanism of territory in the Arctic zone of the Russian Federation. In the new draft of the State program «Socio-economic development of the Arctic zone of the Russian Federation for the period till 2020» it is planned to implement 171 activities, infrastructure and industrial projects, investment projects based on interregional cooperation and the creation of production chains, beyond the limits of the Arctic zone of Russia. Projects of the Arctic zone of the Russian Federation have their own specifics that require special mechanisms for concentration of national and international financial, material and human resources on the priorities of territorial development and coordination among all participants. It is necessary to ensure the economic security of Russia’s national interests in the Arctic zone. Therefore, in terms of financial support of implementation of national and large-scale infrastructure projects in the Arctic requires not only new mechanisms of governance that will ensure the strategic orientation of the activities of different spheres: budgetary, banking and insurance, stock market, business entities, clarify their functions and interactions, but also modernization of system of financing of projects and programmes, improvement of financialinvestment mechanism of the territory. Financial strategy of the state in the aspect of economic security shall be determined by the economic and social development strategies of the country and to determine the extent and techniques of government intervention in the financial activities of business entities, methods of concentration of public financial resources and ways of maneuvering financial resources in all spheres, not only budget. It should be possible to modify the organization of financial relations. The concentration of financial resources of different ...