The role of foreign direct investment in the Volgograd region's economy

Attracting foreign direct investment (FDI) can act as a driving force for economic modernization of the recipient country and its regions. The paper focuses on the analysis of FDI role in the economy of the Volgograd region. Historical, comparative, tabular, diagram, relative and absolute indicators methods, and correlation analysis have been used. The analysis of some economic indicators for the period of 2011-2017 has shown that FDI share in GRP of the Volgograd region is smaller than that of Russia, and labour resources are not provided with adequate investment. Despite positive changes in the type and country structures, FDI is not distributed according to the real needs of certain sectors of regional economy. The correlation analysis has revealed that there is moderate or weak correlation between FDI and main economic indicators of the Volgograd region. The findings suggest that special attention should be paid to development of support programs aimed at greater cooperation with foreign investors, and the most positive impact of FDI on the region's economy.