Implementation of import substitution policy is important in the context of ensuring economic security of countries. For Tajikistan, which is in strict dependence on imports, the development of an effective import substitution policy is necessary to solve the strategic objectives of economic development facing the country. Given the peculiarities of the economic situation in the country and the world, it is most promising to use the Russian experience of implementation of the policy of cluster import substitution, since it largely differs from the realities of Tajikistan and allows solving existing problems. Relevance of the article due to the need for revision of foreign economic and domestic production policy of Tajikistan in order to bring the country’s economy out of stagnation. The paper considers the most promising directions of cluster import substitution policy in the Republic of Tajikistan, and identifies instruments and measures of such policy based on the Russian experience of clustering the economy. Due to the peculiarities of conducting statistics in Tajikistan, the basic method of research is comparative analysis. Based on the results of the study, five clusters of light and food industry in Tajikistan with potential for development were identified, as well as proposed measures to improve the state policy of cluster import substitution, In particular, the establishment of cluster development centres and the fight against bureaucracy and corruption.

In modern conditions, e-commerce is increasingly conquering the mass consumer market. The availability of digital technologies and the ubiquity of the achievements of the Fourth Industrial Revolution are increasing the number of visitors to the global network. At the same time, digital technologies make it possible to create virtual commercial processes, including the organization of virtual shopping malls, shops and other similar structures. An important feature of digital technologies is the ability to bring producers and consumers together in real time. Producers are able to forecast demand and adapt to its rapidly changing structure. The specificity of e-commerce is instantaneous action in all global information space, which allows carrying out stimulating activities at any point of the global network. Electronic commerce has both original features and features of traditional ways to promote goods and services. The digital economy is a strategic parameter that influences consumer choice and behavior. The main task here is to meet the needs and demand of consumers.

The article presents the assessment of the impact of ESG standards on investment efficiency by analyzing the dynamics of stock indices characterizing the efficiency of securities, both those that meet ESG requirements and those that do not take these conditions into account as a criterion. The position on the greater efficiency of sustainable investing compared to the traditional approach in the medium and long term is substantiated. An analysis of the development trends of the ESG segment of the stock market made it possible to identify and characterize the risks associated with sustainable financing, as well as to predict the transformation of the mechanism for compliance with ESG principles in decision-making by transnational corporations.

This article is part of a study aimed at studying the impact of regional support on the activities of small and medium-sized enterprises (SMEs). Research - elements of the SME support system: SME actors; development institutions; public organizations supporting SMEs; significant external factors influencing SME development. The aim of the study is to develop a model for regional SME development, to identify factors influencing the activities of SME entities and their degree of influence, to conduct scenario analysis and to determine the place and importance of regional support in SME development. The impact of state support on the activities of SME entities is studied by many investigators, different methods of analysis are used, in the same article it is used methodology, atypical for this field of research. It is proposed to use fuzzy cognitive mapping to assess the impact of support on SME development and scenario analysis. This work presents a developed model and scenario analysis of the development of SMEs in the Samara region. The resulting model is based on expert assessments and scientific work of other researchers. The main factors influencing SME development were identified and their impact assessed. Modelling the SME scenario not only allows assessing the contribution of support to this development, but can also be used as a decision-support system such as the design of new support measures and regional socio-economic policies, as well as in the allocation of budget funds between support areas.

Effective management of the enterprise’s own capital plays a key role in ensuring its efficient functioning. In this article, different approaches to the evaluation of the efficiency of use of own capital on the basis of an integrated analysis of its structure, dynamics and profitability are considered. Research papers on the subject are studied, including methods of vertical, horizontal, coefficient and factor analysis. Special attention is given to the practical application of these methods on the example of LLC «Samara Meat Factory». In conclusion, conclusions and recommendations are provided for improving the management of the enterprise's equity capital.

Taxes are the main tool to stimulate and regulate any sector of the economy. Currently, 2 main functions of the tax are implemented: fiscal and regulatory (manifested through the mechanism of tax benefits, special tax regimes aimed at developing small and medium-sized businesses). Through special tax regimes, an enabling sub-function of the regulatory tax function is implemented. The extent of this function is determined by the share of taxes in GDP. Today, small and medium-sized businesses in Russia are significantly inferior to developed foreign countries, particularly in terms of GDP (in Russia 21.0%, abroad - more than 50%). This is the relevance of the chosen topic of research. Subject of study is taxation within the framework of special tax regimes. The object of research is the tax system of the Russian Federation. The objective of the study is to examine the problems and directions of improvement of individual tax regimes on the basis of an analysis carried out of each individual tax in the system of special tax regimes. The study uses common methods: analysis, synthesis, generalization, grouping, comparison, tabulation, etc. The study is based on normative acts of the Government of the Russian Federation, data of Rosstat, report of FNS on tax base and structure of assessments under special tax regimes, etc. In the article special tax regimes are considered systematically, in their development, changes introduced into the legislation on taxation of small and mediumsized enterprises. The study found that every tax paid under special tax regimes has both advantages and disadvantages, which makes it necessary to further improve them.

Located between the two NATO and EU countries - Poland and Lithuania - the Kaliningrad region has become Russia’s most vulnerable region in the sanctions war. The regional economy has to change taking into account the factor of regional budget deficit, changes in logistics flows and bank rates. The deficit affected not only the budget of the region, but also personnel. Finding and retaining professional specialists to ensure the competitiveness of companies has become one of the main challenges in regional business. In this context, the training of employees as a factor for staff retention is one of the priority areas of labor market development, especially small and medium-sized enterprises in the region. The article is devoted to digital technologies in the field of training personnel, rapidly replacing traditional training. The use of digital technology allows an organization to automate a lot of personnel-related tasks in a context of limited financial resources, as well as to develop.

The aim of the work is to identify the main trends, problems and prospects for the development of the agricultural sector in the Krasnoyarsk region, as well as to develop a program of activities aimed at increasing its efficiency and competitiveness. SWOT analysis was carried out, strengths and weaknesses, opportunities and threats for the agriculture of Krasnoyarsk were identified. Analysis of production dynamics, trends and factors affecting the volume of production of agricultural products. Built a mathematical model to estimate the influence of key factors on production. A set of activities aimed at solving the identified problems and achieving the stated goals is proposed. The results of the study make it possible to identify priority areas for the development of agriculture in the Krasnoyarsk region and form effective strategies for its sustainable growth and increase of competitiveness.

The article considers methodological issues of evaluation of impact of projects for creation of modern university campuses on the basis of public-private partnership mechanisms on social and economic development of localization regions. The work presents a comparative analysis of domestic and foreign experience in the implementation of PPP projects in the field of higher education for the period 2010-2023. A methodological approach to assess the impact of campuses on social and economic development indicators of the region based on an integral indicator is justified. The influence of the largest Russian university campuses on social and economic development of regions was evaluated.

The article presents a systematic review of approaches to defining educational services in the digital economy. The analysis of more than 1,000 publications over the past 23 years has made it possible to highlight the main conceptual directions in the interpretation of educational service as a process, system, activity and product. The scientific novelty of research is to identify and systematize the main potentials of educational services (personalized, digital, adaptive, competence, integrative, network, inclusive and innovative), which are presented for the first time in a single structured classification reflecting current trends and needs of the digital economy. The methodological basis of the study was based on the PRISMA protocol, which ensured strict selection and qualitative evaluation of relevant literature sources. The results of the survey highlight the need to rethink traditional approaches and demonstrate directions for the development of educational services in the digital economy. The trends and problems identified serve as a basis for further research and improvement of educational policies aimed at creating a flexible and competitive educational environment.

In today's dynamically developing world, it is impossible to improve the economy without the use of advanced management approaches offered by financial engineers. Despite a significant amount of research in this area, a single and clear definition of the concept of «financial engineering» has not yet been unified. There are different points of view, sometimes contradictory, on its essence, tools and technologies that are used in practice. This creates difficulties not only for the scientific community seeking to develop a theoretical basis, but also for practitioners who need reliable methodologies for making informed management decisions. Thus, research work aimed at studying the theoretical foundations of the emergence of financial engineering is necessary to form a clear conceptual apparatus that will contribute to a deeper understanding of its essence and key areas. An important aspect of the study is to identify incentives and factors that determine the development of financial engineering as a separate area of financial science. The purpose of the study is to study the theoretical foundations of the emergence of financial engineering and determine its essence and directions of development. The following research methods were used in the work: literature analysis, content analysis, problem-oriented analysis, as well as graphical and tabular methods of reflecting the research results. Based on the study of theoretical approaches to understanding the essence of financial engineering, a content analysis of a number of existing opinions of famous scientists was carried out, their generalizing characteristics were established, and the author's definition was formed. Taking into account the modern features of economic development, both at the macro and micro levels, the directions for the development of financial engineering were determined, identifying incentives for its further development as a separate area of financial science. The obtained author's conclusions can be used for the further development of financial science in terms of substantiating common and different structural units in the concept of financial engineering with the identification of general trends and its features.

Companies are currently seeking to improve their ESG ratings to attract interest from investment funds and investors whose current and long-term active and passive investment programs are focused on sustainable development. This trend is particularly noticeable in the video game industry: companies are increasingly engaging specialized agencies to strengthen their social and governance component of the ESG rating by introducing inclusive components. However, their forced introduction without taking into account cultural differences and audience preferences can lead to contradictory results. The purpose of this article is to consider how this practice affects the investment attractiveness of gaming companies and their financial performance in the long term. To solve the objectives of this study, certain aspects of the activities of Sweet Baby Inc., a company that the largest players in the video game industry turn to make their content more inclusive in terms of gender, race, and sex, as well as to improve their ratings to attract large investments from funds such as BlackRock or Vanguard. The study addresses the question of how far gaming studios can go to attract audiences, including rewriting stories and destroying social norms, values, and morals. The scientific novelty of this study lies in the fact that for the first time, a comprehensive analysis of the impact of ESG strategies, in particular inclusivity, on the gaming industry is conducted, taking into account the cultural differences of the audience. Unlike previous studies, which focused on traditional industries such as energy and finance, this work considers the unique aspects of the gaming industry, where interaction with the audience plays a key role.