TERMINOLOGY ELEMENTS OF PUBLIC ADMINISTRATION OF INTERNATIONAL INVESTMENT PROJECTS

The article analyses basic terminology elements of the public administration of international investment projects. It defines characteristic features, interconnections, and functional relations of the public administration subjects and objects in terms of such categories as “project,” “investment project,” “project portfolio,” “management,” “public administration,” “public administration mechanism.” The article determines basic statutory documents regulating issues of investment process management when projects are implemented jointly with international financial institutions. It explains the concept of “investment project” in regard to implementation of economic and social development projects funded with loans attracted or guaranteed by the state or credits from international financial institutions. Key functions are outlined of the investment activities public administration and forms of support that can be granted by the state when economic operators are carrying out investment projects. It is justified why it is reasonable to use a portfolio approach to investment project management not only at a company or organization level but also at the state level, especially during implementation of projects co-financed with sovereign credit funds received from international financial institutions. Basic macroeconomic, microeconomic, and institutional instruments and methods of state influence on economic operators’ investment policy are pointed out. The article suggests a definition of the essence of the public administration mechanism for investment projects that are carried out together with international financial institutions.