Development of the country's innovative potential as a factor in attracting foreign investment

Ufa State Petroleum Technological University, Ufa, Russia

^* Corresponding author: gula_sh@mail.ru

Abstract

The purpose of the paper is to study and analyze the role of developing the country's innovative potential to attract foreign investments. The main results of the study are to obtain information that in addition to the innovative environment, ideology, politics, economy and culture of the country, foreign investors often pay attention to intellectual, scientific, technical and technological, financial, legal and entrepreneurial resources, which generally includes into the components of the concept of “innovation potential”. Countries that have been investing heavily in research and development on an ongoing basis for a long time are leaders in the ranking of countries in terms of foreign direct investment. Based on the data presented in the study it can be concluded that the development of the country’s innovative potential is an important factor for foreign investors. The novelty of the scientific work is justified by the current of globalization, since it is the global economy that makes innovation even more important since companies and investors are looking for prospects for growth and competitive advantages. There are many related studies, but there are no studies on innovation potential in the context of attracting foreign investment.