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Entrepreneurial potential in the Far East is strongly undercapitalized
But for this approach to work, you need to spend money on justifying and structuring such projects. The main problem, in my opinion, is the limited ability of local authorities to attract investment in fulfilling their responsibilities for infrastructure development. This exists both for subjective reasons (lack of qualifications and political attitudes, lack of experience in such projects), and for objective reasons - the development of infrastructure is torn between natural monopolies, regional and municipal authorities, it is difficult to coordinate. It is difficult, but when the even simpler mechanism of the Investment Fund of the Russian Federation in its current form worked, within three years the constituent entities of the Russian Federation coped with the launch of such activities - and the projects went. There are proposals to improve the efficiency of this form of development by, for example, defining the Far East Development Fund as the only concessionaire who would take on the entire burden of developing and linking infrastructure development with industrial investors and budget planning issues and would leave the project after financial closure - attracting a strategic infrastructure investor and project financing.
The question of guarantees - who guarantees? It is the role of the state to coordinate and organize economic development. But within the framework of the proposed model, it is not invested in the development of industrial projects, but private investors - they should assess their risks of selling products and developing projects. The state's risk in creating infrastructure for future economic growth can be managed only by the compaction and complexity of the industry, which develops on the basis of this infrastructure - accordingly - territorial planning, economic preferences for trade development, attracting new categories of investors. The state has a vertical, here it should be able to manage these risks. In addition, with 80% of the opportunities for economic growth in the Far East, the risks of this development are supported by the entire economy. The reserve fund, in fact, is also just for such risks of falling budget revenues.
There is such a term - “gazelles” - small and medium-sized businesses that are effectively developing. They have their own innovative competence: managerial, marketing, technological, and other competitive advantages that they develop, thereby promoting a new enterprise and its products or services. In addition to this convolution of the Macro-region into five points, at a minimum, we need to enable these “ghazals”, both from the local and from the European part of qualified entrepreneurs, to capitalize on the development of their production in the Far East, based on the fact that they will export to Asia Pacific markets. Nobody canceled the Bukharin “enrich themselves” - “gazelles” should be able to capitalize cheaply with a hard link for enrichment by growing their business in the Far East and in the Asia-Pacific Region.