GOVERNMENT REGULATION OF INVESTMENT ACTIVITY ON THE EXAMPLE OF THE VOLGA FEDERAL DISTRICT

EDN: OKWLXG

DOI: https://doi.org/10.65891/2949-1983-2026-22-3-10-14

Authors:

BIKMETOVA Zulfiya Masnavievna, KHAIRULLIN Artur Ildusovich

Affiliation:

Ufa University of Science and Technology (Ufa)

Abstract.

The article analyzes the dynamics of investments in fixed capital across the regions of the Volga Federal District (VFD) for the period 2020–2024. Based on federal statistics data, leaders and underperformers in terms of investment growth rates have been identified. It has been established that the Republic of Mari El (+130%), the Samara Region (+106%), and the Nizhny Novgorod Region (+97%) showed the highest growth, while the Republic of Mordovia (+50%) and the Orenburg Region (+57%) lagged significantly behind. The key factors determining regional differentiation have been examined: the implementation of large‑scale industrial projects, the development of the petrochemical complex, mechanical engineering, the defence‑industrial sector, as well as state support measures. The conclusion is drawn that there is significant unevenness in investment development within the district. It is shown that the total volume of investments in the Volga Federal District increased from 2,612 billion to 4,750 billion rubles (+87%), which is somewhat lower than the all‑Russian trend (+94%). Per capita investments increased from 87,800 to 157,200 rubles per person. In terms of absolute volumes, the Republic of Tatarstan leads (1,125 billion rubles in 2024), having added 483.5 billion rubles – more than the entire volume of investments in any other region of the district. The authors propose a classification of regions based on growth rates, identify groups of leaders, average performers, and laggards, and analyze sectoral growth drivers – petrochemicals, aircraft and automotive manufacturing, and the defense‑industrial complex. Special attention is paid to the role of special economic zones (Alabuga, Innopolis, Tolyatti, Kulibin) and territories of advanced socio‑economic development. The problems hindering investment growth are substantiated: interregional polarization, high dependence on government orders and budgetary allocations, and institutional constraints.

Keywords:

investments in fixed capital, Volga Federal District, regional economy, investment growth, growth factors, industry, petrochemicals

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