System of Region Management: a Framework Concept

The article covers the issues concerning the development of a framework concept for the system of management. The authors prove that the problem of socio-economic development of a region is to be considered from the perspective of a systemic approach principles and methods, viewing regions as an integral socio-economic system, whose subsystems include the state subsystem (with regions regarded as constituent entities of the federation), municipal formations, and a range of private and legal entities. The authors identify the major objectives of region management and consider ways of aligning the social and economic development of regions by overcoming the existing inter-regional disproportions. The framework concept, as proposed by the authors, is to recognize the economic development of a region, the development of the major constituents of the regional complex, and the region´s social development. Special attention is paid to the issues of implementing the investment policy and substantiating the staged of its implementation. Planning the investment activity, involving the rationale for long-term and medium-term goals of the investment process, as well as ways to achieve the goals, is seen as a vital element of investment policy.