Page 55 - Theoretical and Practical Interpretation of Investment Attractiveness

Currently, it is relevant to conduct research on the distribution of labor value in all
structural components of industrial clusters, study the place and importance of high -tech
clusters in regional networks, and carry out research to improve the infrastructure provision
system of regional clusters.
In our opinion, the implementation of a clustering approach in management should be
considered in line with the presence of a range of both infrastructural and non-infrastructural
conditions. These include:
1. Infrastructural conditions:
- Formalization of the state policy aimed at supporting and developing clusters, taking
into account the capabilities of cluster participants and the development of the entrepreneurial
system, based on the specificity of the region. This includes defining the priorities and tasks
of cluster development (introduction of cluster development programs into the region's social-
economic development strategy, allocation of budget and extra-budgetary funds);
- Availability of scientific-educational base, skilled labor force, possibility of using the
resources of the state institution for scientific-technical progress and design works, and the
benefit of businesses from leading organizations (corporations) in the education sector;
- Development of communication among cluster participants through formal and
informal information, knowledge, and experience exchange. General governance initiatives
for clusters require confidence and willingness to cooperate among the stakeholders. Utilizing
clustering in business activities fosters long-term planning and strategic forecasting;
- State orders and public-private partnerships to support the development of cluster
structures;
- Involvement of social associations in the formation of regional clusters that provide
opportunities for experimentation and protect their interests.
2. Non-infrastructural conditions:
- Availability of horizontally and vertically integrated business entities operating in
segments of national and global markets in the regions, benefiting from the advantages of
competitive advantages;
- Growth in the number of small businesses and private enterprises specializing in the
production of goods using modern technologies, producing competitive products, or
specializing in the production of one or several types of products;
- Awareness among business entities' representatives about the necessity of
participating in the cluster.
In our opinion, the development of entrepreneurship within the framework of regional
clusters is determined by the following main directions of infrastructural provision:
- Innovation-oriented – forms within the framework of the participation of scientific
and educational institutions in the economy of the region's specific sectors;
- Vertically integrated – forms a cluster knot of the production process, integrating
related stages of production in the economy's specific sector (branch);
- Conglomerate (random) – forms within the framework of the conglomerate of the
region's economic sectors and types of economic activities with a high concentration in a
certain sector.
52