{"id":1813,"date":"2026-06-24T12:13:33","date_gmt":"2026-06-24T09:13:33","guid":{"rendered":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/?page_id=1813"},"modified":"2026-06-24T12:13:33","modified_gmt":"2026-06-24T09:13:33","slug":"improving-investment-attraction-for-sustainable-development-in-the-murmansk-region-under-new-geopolitical-conditions","status":"publish","type":"page","link":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/?page_id=1813","title":{"rendered":"IMPROVING INVESTMENT ATTRACTION FOR SUSTAINABLE DEVELOPMENT IN THE MURMANSK REGION UNDER NEW GEOPOLITICAL CONDITIONS"},"content":{"rendered":"

Original article<\/p>\n

Download article\u00a0<\/a><\/strong>\u00a0<\/strong><\/p>\n

Dmitriy S. Krapivin<\/strong><\/p>\n

Luzin Institute for Economic Studies of the Kola Science Centre of the Russian Academy of Sciences, Apatity, Russia, \u00a0krapivin_dmitry@mail.ru, ORCID 0000-0003-2703-9119<\/p>\n

\u00a0<\/strong><\/p>\n

Abstract.<\/strong> The Murmansk Region, a historically significant area for Russia with abundant natural resources and a strategically advantageous location, is currently facing serious external and internal challenges. Sanctions against Russia, the reorientation of the country’s trade interests and the search for new key partners, depletion of mineral reserves and increasing complexity of their extraction, as well as population outflow\u2014all these factors constrain the region\u2019s socio-economic development. At the same time, the Murmansk Region\u2019s strategic importance in Arctic development and national security is growing. Ongoing processes of economic diversification, infrastructure development, and other transformations aimed at improving the quality of life are placing increasing pressure on the regional budget. The article examines the possibility of using financial instruments and mechanisms to attract new investment and thereby alleviate fiscal pressure. To address this objective, relevant legislative and regulatory acts are analyzed, including recent presidential decrees identifying key investment projects in the Murmansk Region. The study presents and evaluates a comprehensive set of financial instruments and mechanisms for attracting investment, ranging from conventional tools such as public-private partnerships and municipal bonds to more recent tools such as territorial development funds and green investments, as well as innovative instruments including tokenization and digital bonds. For each instrument, potential applications to specific projects in the Murmansk Region are proposed and the complexity of implementation assessed. The findings suggest that reducing fiscal pressure in the region requires a shift in governance approaches toward the broader use of financial investment instruments, including the adaptation of existing mechanisms and the development of new ones. In the context of a large number and diversity of priority projects, it is advisable to begin with simpler, well-established instruments and gradually introduce more complex mechanisms, while taking into account project-specific conditions and the institutional capacity of implementing agencies. An additional critical factor is the integration of financial mechanisms with improvements in the investment climate.<\/p>\n

Keywords:<\/em> Russian Arctic, regional economy, socio-economic policy, budget, investments, financial instruments, digital technologies<\/p>\n

Acknowledgements:<\/strong> This research was conducted under Grant No. 24-28-20154 from the Russian Science Foundation, titled \u201cDevelopment of Tools for Attracting Additional Financial Resources to Ensure Sustainable Development of the Arctic Region in Modern Geopolitical Conditions.\u201d<\/p>\n

For citation:<\/strong> Krapivin D. S. Improving investment attraction for sustainable development in the Murmansk Region under new geopolitical conditions. Sever i rynok: formirovanie ekonomicheskogo poryadka<\/em> [The North and the Market: Forming the Economic Order], 2026, no. 2, pp. 55\u201365. doi:10.37614\/2220-802X.2.2026.92.004.<\/p>\n

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    Original article Download article\u00a0\u00a0 Dmitriy S. Krapivin Luzin Institute for Economic Studies of the Kola Science Centre of the Russian Academy of Sciences, Apatity, Russia, \u00a0krapivin_dmitry@mail.ru, ORCID 0000-0003-2703-9119 \u00a0 Abstract. The Murmansk Region, a historically significant area for Russia with … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"sidebar-page.php","meta":{"footnotes":""},"class_list":["post-1813","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages\/1813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1813"}],"version-history":[{"count":1,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages\/1813\/revisions"}],"predecessor-version":[{"id":1814,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages\/1813\/revisions\/1814"}],"wp:attachment":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}