Import Substitution as a Condition for Sustainable Development of Mining Regions

Abstract

One of the promising directions for studying the indicators of sustainable development of the extracting region is the analysis of economic trends, the definition and expert evaluation of their values and their practical approval. The assessment of the whole complex of environmental, economic and social indicators of sustainable development is of obvious importance in monitoring, evaluating and adjusting regional targeted programs, developing concepts and programs for long-term socialand-economic development, analyzing their effectiveness. It will allow, if necessary, to correct specific directions of social-and-economic and ecological development of the region. In extracting clusters, the need for the development of an import-substituting machine building cluster is urgent. For its establishing it is necessary to organize an investment consortium of engineering products' consumers, an international network of industry innovation, research-and-production and design firms, a regional agency for attracting and protecting investments in import substitution of industrial products, and a set of tax incentives for residents of the import-substituting cluster.