Innovation in the modern education system

Figure 1.6. Model of investment policy formation in the engineering complex²⁰

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  support for the development of innovative activities;
  
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  increase the solvent demand for machinery and metalworking products.
  

The development of the machine-building and metal-working industries is directly related to the state regulation of investment processes, and the state's investment policy in this area includes micro-enterprise investment policies.
The investment policy of the state at the micro level usually involves the assessment of the innovative activities of engineering and metalworking enterprises in a competitive environment, the quality of individual programs and projects related to the development of the industry, and the purpose of micro-level investment policy²¹:

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  using quantitative and qualitative analysis to assess the effectiveness of investment projects in the field of engineering and metalworking, the selection of investment projects and the identification of its advantages (relative and absolute) over other projects;
  
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  quality implementation of the selected project.
  

Investment policy at the enterprise level in the field of mechanical engineering and metalworking is implemented in the following areas:

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  relief of machine-building and metal-working enterprises;
  
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  renewal and modernization of fixed assets of machine-building and metal-working enterprises;
  
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  development of innovative activities of enterprises of machine-building and metal-working industries;
  
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  development of management systems of enterprises of machine-building and metal-working industries;
  
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  improving social infrastructure;
  

It turns out that the development of the sector depends directly on government intervention, which involves the normalization of the investment climate by optimizing a number of macroeconomic parameters, and this will be an additional effort to activate capital investment in the real sector. In turn, this process will stimulate economic growth. The state should also make "large investments" in all sectors for the qualitative (innovative) development of the engineering and metalworking industry and the implementation of comprehensive restructuring.
According to E.V.Makarenko, depending on the nature of machine-building enterprises, investment policy in the machine-building complex can be formed in several directions, including²²:

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  encourage investment in the engineering sector;
  
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  approval of priority and justified single criteria of competitive advantages of machine-building enterprises in terms of investment attractiveness;
  
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  providing various benefits and advantages of the state to investment-attractive machine-building enterprises;
  
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  creation of relatively favorable conditions for the innovative development of existing enterprises of the machine-building complex and support in their innovative production;
  

If we pay attention to the investments attracted by various investors, the enterprises included in the machine-building complex are considered to be a sufficient "risk" object. The reasons for such a risk are many, in particular, the volume of investment takes a long time in terms of payback period. Another important aspect of the issue under consideration is that the investor will be able to make a greater profit by investing this investment in another sector, rather than investing in enterprises in this sector.
For the above reasons, the state should encourage investment in the engineering sector and take the following measures:

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  direct investment by the state in the activities of machine-building enterprises;
  
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  control over the financial condition of investments in machine-building enterprises and their attraction;
  
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  government support for the training of employees of machine-building enterprises;
  
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  formation of separate economic zones for the purpose of opening machine-building enterprises;
  
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  formation of investment funds or participation in their creation;
  
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  establish cooperation with banks on the future development of machine-building enterprises.
  

Studies show that the state pursues not one, but several goals by pursuing an investment policy in the field of machinery and metalworking. In particular, it is expedient to point out the following as the most important of them (Figure 1.7).
In the engineering and metalworking industries, investment costs are allocated to depreciation costs and directed to the replacement and repair of obsolete equipment, buildings and structures, while net investment is directed to the expansion and replenishment of existing physical capital, production growth in engineering.
Sources of investment in machine-building enterprises are private and borrowed funds, and private sources of investment include:²³:
private financial resources, funds formed from depreciation of current fixed assets, funds allocated from profits for investment, payments of insurance companies, etc .;
raising funds from the sale of shares and the results of production of the enterprise;
from the sale of trademarks, land plots, obtained patents and software products;
joint-stock companies, non-repayable funds of financial-industrial groups and holdings, etc.
The sources of foreign investment of machine-building and metal-working enterprises are:
various levels of budget funds on a non-refundable basis,