Key Factors Influencing the Development of Investment Activities in the Agricultural Sector of Russia and EAEU Member Countries

The research explores the issues surrounding investment development in the agricultural sector of Russia and other countries of the Eurasian Economic Union (EAEU). The authors analyze trends in investment growth within the agricultural economies of EAEU countries. Investment activity in agriculture is shaped by factors operating at macro-, meso-, and micro-levels. Overall, the stimulation of investments is driven by the development of production, labor, consumer, and financial capacities. Particularly significant are the advancement of relevant institutions and institutional infrastructure, the cost and accessibility of credit resources, pricing dynamics in the agri-food market, existing government support measures and their funding volumes, and effective tax regulation aimed at encouraging investment activity. The research highlights the competitive advantages of EAEU countries in fostering investment in agriculture. From 2019 to 2022, Kazakhstan experienced the highest growth in investments in fixed agricultural capital. Belarus and Russia recorded the largest investment per 100 hectares of agricultural land and per worker in the sector. Thus, some countries have developed stronger production capacities, while others demonstrate labor, financial, or consumer potential advantages. The authors emphasize that substantial investments are essential for transforming agriculture into a high-tech industry. In light of this, EAEU countries have set goals to increase investment levels.