Evaluation of Investment Attractiveness of Commonwealth of Independent States

The paper covers evaluation of parameters influencing investment attractiveness of the countries of the Commonwealth of Independent states (CIS) by correlation analyses of regional competitiveness factors and foreign direct investments (FDIs) inward stock levels on the territory for the period of 1992-2014. Based on the correlation matrix, we can conclude that the highest impact on investment attractiveness for FDI in CIS is coming from the size of the markets, both domestic and foreign. Institutional characteristics that include legal and political environment in the region also show high correlation levels. High impact on investment attractiveness of CIS comes also from the parameter "strength of auditing and reporting standards." On the other hand, administrative, infrastructure, economic and social characteristics of the territory, such as inflation, taxation, procedures of starting business, trade tariffs and barriers, government budget balance, gross national savings, access to loans, labor market efficiency, life expectancy, health, educational system, do not have significant impact on FDI inward stock levels in CIS.