| Summary: | Under the conditions of reduction of economic growth, there is an increase in interregional competition for investors, who are becoming more and more selective in choosing the directions of their investments. Specialized ratings are one of the main sources of data on regions’ investment potential. Up to the present, there has been almost no research showing the connection between the positions of regions in ratings, economic growth rates, and investment activeness level, as well as research identifying advantages and disadvantages of each rating. Therefore, for regional authorities it is not clear whether or not it is necessary to increase positions in each of the ratings and run relevant activities for investment climate improvement. The article analyzes the interrelation of regions’ positions in ratings of investment attractiveness, growth rates of economies and investment activity in the regions under study. The following ratings were chosen for this purpose: the National rating of investment climate in regions of the Russian Federation of the Agency for Strategic Initiatives, the Rating of investment attractiveness of regions of the Russian Federation of the National Rating Agency, the Rating of investment attractiveness of Russia’s regions of “Expert RA” rating agency. The authors come to conclusion that it is expedient to use the National rating of investment climate in regions of the Russian Federation of the Agency for Strategic Initiatives as an indicator of investment attractiveness of regions. The article reveals the relationship between high rating positions of regions, volume of investment per capita, and rates of economic growth. On the other hand, the rating does not allow us to explain the possibility of dynamic economic growth and high level of investments per capita in a number of regions with poor ratings. In the rating of the National Rating Agency, regions are referred to this or that group mostly basing on the level of their economic development. At the other end of the scale, regions with high level of economic development not always have higher attractiveness for investors, for example, because of higher labor and rental costs. Thus, it is established that there is no interrelation between a region’s belonging to this or that group in the rating and its rates of economic growth. The results of the conducted research confirm adequacy of the rating of “Expert RA” to the purposes of determining a region’s investment attractiveness. In general, higher investment activity and rates of economic growth were revealed in the groups possessing high investment potential and rather low level of investment risk. The main shortcomings of the rating are underestimation of regions’ resource capacity influence on their appeal to investors, and also too obvious dependence between a region’s investment potential and the size of its economy.
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