Яндекс.Метрика

Issue № 1, January 2019, article № 8

Assessment of investment attractiveness of projects in agro-industrial complex: features and specifics

Any investment requires a commensurate return, so assessing the investment attractiveness of projects should provide objective and relevant analytical and forecasting results. The article considers various approaches to the evaluation of investment projects implemented in the agro-industrial sector, taking into account the influence of the most important factors for the agricultural sector (natural and climatic conditions, territorial dispersion of production, seasonality, limited diversification of agricultural products). Using various methodological approaches (traditional investment analysis / technical and economic evaluation of the project, real options, mathematical programming), the authors have shown that the justification of the effectiveness of projects implemented in the agro industrial complex can include all the above mentioned valuation techniques, or separate econometric tools. The choice of the methodology for justifying the effectiveness will depend on the following basic conditions: the scale of the project and its intended purpose; availability of government funding; the main beneficiaries and science intensity of the project; technical and technological features of the practical implementation of the project; the choice between alternative projects of the most effective (ensuring the maximum return on invested funds at the accepted or given level of risk). The results and conclusions obtained in the article can be used by credit organizations, executive authorities and other institutions to develop methodological recommendations for assessing the investment attractiveness of projects implemented in the agro-industrial complex.

Issue № 1, January 2019, article № 10

Problems of development of rural territories: program goals management

The purpose of the study is to identify factors that impede the sustainable development of rural areas; Development of the concept of the formation of an effective social infrastructure. There is a decrease in the number of rural population to the level of 1991 by 982 thousand people, or 2.5‰. The total number of rural population is considered from four positions: natural increase (or decrease); Migration increase; Change the category of settlements (from urban to rural); Expansion of the rural area through the accession of the Crimea. Due the first factor (natural increase) during the period of market reforms from 1992 to 2016 there was a decrease in the number - by 3.7 million people. The second factor is the increase of about half a million people. By the third factor (change in the category of settlements) there was an increase in the number of slightly more than 2 million people. And according to the fourth factor, due to the rural territory of the Crimea, the rural population of the Russian Federation grew by almost 800 thousand people. Turning to the structure of the employed rural population of the Russian Federation by economic activity, it was found that the share of those directly engaged in agriculture is only slightly more than 21‰ of the economically active population of rural areas or about 8 million people. That indicates the multi functions of rural areas of Russia. It is recommended: to establish a financial priority for strategic projects that increase the profitability of the agricultural sector aimed at modernizing and enhancing the competitiveness of the rural economy, improving the infrastructure of rural areas and local government, the development of agrarian and green tourism; To carry out certification of rural settlements; Apply minimum standards of social and communal infrastructures; It is required to legislatively fix the status of a young specialist who travels to the countryside by developing an appropriate bill that includes his rights and duties, as well as benefits and preferences of various kinds. This decision, according to the author, will significantly increase the attractiveness of rural areas for modern youth.

Uniform subsidy and tax benefits is as factors of scientific and technical development of agriculture in regions

Importance of the new form of the state financial support agricultural producers, called to promote regional controls in achievement of the target parameters planned in their programs of development by agrarian and industrial complex is marked. Advantage is introduction of dual rates of grants - on 1 hectare (head) and on 1 сentner production (plant growing and animal industries). They promote scientific and technical development of an agriculture, really focusing commodity producers on growth of productivity (efficiency) at simultaneous increase or even preservation in the same sizes of areas under crops (a livestock of animals) and thus the differentiation do not demand, exclude the conflicts arising at differentiated single rates. At the same time, « Rules of granting and distribution of grants from the federal budget to budgets of subjects of the Russian Federation on assistance to achievement of target parameters of regional programs of development of agriculture » require perfection regarding simplification of the mechanism of distribution of means between budgets of subjects of the Russian Federation, and also an estimation of efficiency of realization of charges of budgets of subjects of the Russian Federation which source are grants. It is underlined, that the estimation of efficiency of use of grants is expedient for connecting with a level of profitability of commodity producers. The importance of the Federal law from 3/7/2018 № 51-FL «About modification in clause 346.8 of a part of the Russian Federation second the Tax code » is emphasized, which subjects of the Russian Federation are authorized to establish the laws « the differentiated tax rates within the limits of from 0 up to 6 percent for all or separate categories of tax bearers. Directions of differentiation of rates ЕСХН are offered. It is drawn a conclusion that connection of two different financial streams can become a resource of scientific and technical development of an agriculture of regions which is necessary for using as much as possible at realization of corresponding programs and to consider at modelling the forecast of scientific and technical development.