On the issue of forming a strategy for innovative development of the agro-industrial complex and the role of foreign direct investment

Issue № 9, 2023, article № 5, pages 48-55

Section: Economic mechanism of managing

Language: Russian

Original language title: К ВОПРОСУ ФОРМИРОВАНИЯ СТРАТЕГИИ ИННОВАЦИОННОГО РАЗВИТИЯ АПК И РОЛЬ ПРЯМЫХ ИНОСТРАННЫХ ИНВЕСТИЦИЙ

Keywords: INNOVATION, INNOVATIVE ACTIVITY, INVESTMENT, STATE SUPPORT, AGRO-INDUSTRIAL COMPLEX

Abstract: The issues of the strategy of innovative development of the agro-industrial complex in recent years have become of great importance for improving the efficiency of agricultural production, raw materials and food, labor productivity growth, ensuring competitiveness in the world market. And, in many respects, it directly depends both on the direction of development of the innovation development strategy itself, and on the level of state regulation of the inflow of investments, including foreign direct capital investments, support for agricultural producers using innovative technologies. The article examines some characteristics of innovation activity in the BRICS countries and some highly industrial countries, and notes the relatively low level of business participation in R&D financing. Particular attention is paid to the relatively significant share of foreign R&D financing in the GDP of developed industrial countries. The article reveals the characteristics of foreign direct investment in the agro-industrial complex of Brazil, Russia, India, China, South Africa, taking into account the availability of agricultural land, state support. Attention is focused on the investment activity of China, which both attracted FDI and supported the outflow of long-term investments in agriculture in other countries. It is particularly noted that the problems with the inflow of long-term capital in Russia, including foreign capital, into agriculture are primarily due to mistakes during the agrarian reforms in the nineties of the XX century. The disproportions between FDI investments in agriculture and the food and processing industry in various BRICS countries have been revealed. The author's understanding of the strategy of innovative development is presented in the context of the need to expand the financing of innovative processes in the agro-industrial complex from all sources, including through attracting FDI.

Authors: Kulov Aslan Rostislavovich, Ryzhenkova Natalia Evgenevna