New Approaches to FDI Policy: Initiatives of the World’s Largest Countries and Lessons for Russia

Abstract

The article is devoted to the study of current trends in the regulation of foreign direct investment (FDI), caused by ongoing changes in the interaction of individual countries of the world and their groupings. The tools and approaches of Russia and key countries participating in the global FDI market to regulate not only inward but also outward investments that previously did not come to the attention of regulators are explored. Strengthening control over all directions of investment flows, as well as expanding the list of strategically important industries in which participation is limited for foreign investors, leads to the fact that the foreign investment policy of Western countries is turning from a tool for managing the foreign economic activities of companies into a tool for ensuring national security and technological sovereignty. The regulation of FDI in Russia today is a set of single measures and is reactive in nature, which does not allow to support economic growth and the geopolitical interests of the country. There is an obvious need to revise the approaches in order to create a comprehensive regulatory policy that meets new challenges and realities, integrated into Russia’s overall foreign economic strategy and its economic security strategy. Based on the results of the study, the goals of the new foreign investment policy of Russia, approaches to regulating inward and outward investments were formulated, and recommendations were given for the tools in the field of FDI regulation.