No 9 (2025)

This article examines current challenges in financing large-scale infrastructure projects in the Russian Federation, particularly in the toll roads construction. It provides an analysis of the limitations inherent in existing funding models, such as concession agreements and long-term investment agreements, which lead to high costs of debt capital and a concentration of states risks. As a key solution, the cash flows securitizing mechanism from infrastructure projects through the issuance of infrastructure bonds (IBOs) is proposed. The article explores the prerequisites for the formation of an IBO market, the comprehensive set of necessary incentive measures from the regulator and the government, as well as the potential investor pool and international experience. A possible target architecture for the infrastructure bond financial instrument and a step-by-step mechanism for its implementation are presented using a pilot project as an example. The development of the IBO market can diversify funding sources, reduce the burden on the state budget, and attract long-term private investment into infrastructure.

The subprocess of resource supply management is the most important factor in the functioning and development of "organization" type economic systems. The study and promotion of principles and standards of resource demand in organizations is associated with a change in the composition and content of existing attributes of this management subprocess. Based on the normative content of the attributes of the selected management subprocess, the means of their implementation in practice have been supplemented. Diagnostics revealed contradictions and shortcomings of the current state of the attributes of the management subprocess, to eliminate which innovative proposals were developed. In addition, a technology has been developed to improve the functioning of the resource supply management subprocess of the organization under study.

Digitalization, penetrating into all aspects of the functioning of enterprises and service organizations, opens up new horizons for increasing efficiency, improving the quality of service, and creating a unique customer experience. The synergy between the digital economy and the service sector is not just a trend, but a fundamental factor that determines the competitiveness of enterprises and the quality of life for consumers. This article explores the key aspects of this interaction, from its conceptual foundations to practical examples and development prospects.

This article explores the issue of assessing the competitiveness of the regions of the Kyrgyz Republic in the context of sustainable socio-economic development. The author proposes an integral approach based on the normalization and weighting of key socio-economic indicators such as living standards, investment activity, and resource utilization efficiency. This methodology enables the systematization of diverse data and the consolidation of indicators into a single index suitable for interregional comparison. Special attention is given to the clustering of territories, which allows for the identification of development models and the prioritization of state support measures. The study presents calculations of the integral competitiveness index for the regions of the Kyrgyz Republic for 2022, along with a typological classification based on binary evaluation of core parameters. The results confirm the high practical relevance of the proposed method and its applicability in regional planning, policy formulation, and decision-making aimed at balanced national development.

In the context of the transformation of the Russian consumer market and the growing interest in the national identity, the cultural code is becoming an important tool for marketing communications. The purpose of the article is to analyze the role of the Russian cultural code in marketing, identify the reasons for its actualization in recent years, and consider the functions and practices of its application by brands. The theoretical part summarizes the key approaches to the concept of “cultural code” and identifies the features oof the Russian cultural code as a system of values, symbols and narratives. The empirical part is based on the analysis of open sources, cases and modern marketing campaigns of Russian brands. As a result of the study, the main tasks that the cultural code solves in marketing are identified: building trust and loyalty, creating an emotional connection with the consumer, strengthening competitive advantages. Special attention is paid to the risks and ethical aspects of using patriotic and national symbols in marketing strategies. The practical significance of the work lies in the formation of recommendations for the responsible and effective use of the cultural code in brand communications in the Russian context.

The article examines current changes in accounting regulation, which are attracting increasing attention from politicians, regulators and economists. This is due to efforts to reform current standards and rules at the international level. As stock markets in various countries develop and the international capital market integrates, investors' need for global standardization of companies' financial statements has increased. In addition, the article analyzes the stages of implementation and development of International Financial Reporting Standards (IFRS) both in the world and in Kyrgyzstan.

This article examines some strategic and legal aspects of the digital development of the banking sector. It highlights the key factors associated with digital lending to the real sector and structures the process of creating digital solutions in banking. It also analyzes the terms of online loans based on the example of five popular commercial banks in the Kyrgyz Republic.

This article is dedicated to the development of an algorithm for assessing the financial stability of the budget of a constituent entity of the Russian Federation. The study analyzes the main indicators and methods for assessing the financial condition of regional budgets, identifies key factors that affect sustainability, and proposes an integrated approach to quantifying them. The developed algorithm includes collecting and processing statistical data, using financial analysis and modeling techniques, as well as creating a system of indicators to monitor the state of the budget. The results of this work will improve the efficiency of managing financial resources in regions, help identify risks in a timely manner, and make informed decisions to ensure stability and development in the subjects of the Russian Federation.

The article presents a comparative analysis of the impact of external environmental factors on the choice of international business entry modes in Russia and the United Arab Emirates. The political, economic, socio-cultural, and technological conditions that determine companies’ internationalization strategies are examined. It is shown that in the Russian context, cautious forms of entering foreign markets prevail – for example, indirect export, licensing, and project-based contracts – whereas in the UAE, favorable institutional and economic conditions stimulate the establishment of subsidiaries, joint ventures, regional headquarters, and franchise networks. Special attention is paid to the role of small and medium-sized enterprises, digitalization, and investment attractiveness as drivers of global expansion. Based on the analysis, conclusions are drawn regarding the most suitable international business entry modes for each country. Practical recommendations are also provided for Russian companies planning to enter the UAE market.

The article discusses the problems of the functioning of the system of control of accrual and completeness of customs payments as a tool of customs regulation, their impact on the economic security of the state. Based on the analysis of existing government measures, the necessary generalizations have been made and the directions for improving the efficiency of the system for monitoring the accrual and completeness of customs payments have been outlined.

The article analyzes the initiatives of the Russian Federation in the field of international regulation of the use of information and communication technologies. The principles and approaches, possible directions of cooperation in this field are considered. The issues of creating a permanent negotiating platform on international information security within the framework of the United Nations are discussed.

The article is devoted to the study of the mechanisms of perception and influence of reviews on consumer behavior when making purchase decisions. The author emphasizes that consumers regularly turn to reviews as an additional source of information about the product. The degree of trust in reviews is formed by a combination of factors such as quantity, quality of information, source, presentation format, and consistency with personal experience. The paper analyzes the key mechanisms by which reviews influence the choice of goods and services, presented through several levels, including perceptual, cognitive, emotional and social. Special attention is paid to the role of positive and negative comments in forming opinions about a product, as well as the psychological aspects of information perception, namely, how emotional tone and subjective opinion can enhance or weaken the desire to make a purchase. The results of the study help to better understand how reviews affect customers and how marketers can use this data to optimize communication with consumers, increase trust and form long-term relationships.

This article provides a comprehensive analysis of food security as a fundamental and system-forming element of national security. The essence and evolution of the concept of food security are examined, and its key components and criteria are identified. A structural and logical diagram is presented, clearly demonstrating the place and interrelationships of food security with other types of national security (economic, social, environmental, and political). Contemporary global and national threats are systematized, as well as strategic directions of state policy aimed at strengthening food security as the basis for sustainable development and national security in general.

The discusses the development and application of a new method for evaluating the effectiveness of architectural solutions in information systems for non-commercial organizations. The relevance of the research is due to the need for accurate and reliable tools for analyzing and comparing various architectures, such as microservice and monolithic. The aim of the work is to create a methodology that allows an objective assessment of the effectiveness of architectural solutions, taking into account the specifics of business processes. Methods of system analysis, modeling and comparative analysis were used in the research process. The results showed that the proposed method provides a more accurate and comprehensive assessment of architectural solutions for non-commercial organizations compared to existing approaches. The conclusions of the study can be useful for specialists in the field of business informatics and architects of information systems when choosing optimal architectural solutions.

This article provides a comprehensive analysis of the trade war between the United States and China during 2018-2025, examining the economic consequences of the confrontation for the two largest global economies, as well as the risks posed to global stability. The study covers the evolution of the conflict, the impact of mutual tariffs on trade, structural shifts in production and supply chains, and effects on the world economy, commodity markets, and financial systems. Special attention is given to technological restrictions, currency policy, and potential geopolitical implications. Based on the analysis, practical recommendations are proposed for businesses and government authorities aimed at mitigating the negative effects of the trade conflict and stabilizing U.S. – China relations. The research employs systemic and comparative approaches, methods of economic and statistical analysis, and risk scenario modeling, utilizing current data from official sources and analytical reviews.

This article analyzes best global practices in the creation and development of fisheries infrastructure, with a focus on mariculture. Successful examples from China, South Korea, Canada, the United States, Norway, Portugal, France, and Russia are examined, including cultivation technologies, product range, socioeconomic indicators, advantages, and disadvantages. A comparison is made with Russia, where mariculture development in the Arctic Zone of the Russian Federation (AZRF) lags behind global leaders but has significant potential. Based on summary tables and analysis, an optimal practice for the AZRF is proposed—the adaptation of Norwegian offshore cultivation technologies similar to those developed by Seaweed Energy Solutions (SES), taking into account sustainability in Arctic conditions and the impact of sanctions. The study draws on current scientific publications and project data as of September 2025, with counterarguments (environmental risks, geopolitical factors) added to balance the analysis.

The article discusses the problem of economic efficiency of the use of working capital at a processing enterprise of the agro-industrial complex. The assessment of the efficiency of the use of working capital of a small processing enterprise is given. Measures to improve the situation are proposed, namely: expanding the product range, rationing of raw materials stocks, changing suppliers. The proposed measures led to an increase in the efficiency of working capital and the enterprise as a whole.

The paper delivers a structured comparative assessment of digital methods for promoting agricultural products in Russia amid sanctions, logistics reconfiguration, and audience migration to domestic ecosystems. Ten core tools are examined: marketplaces, search and paid social advertising, social media (VK/Telegram), influencer marketing, SEO and content marketing, email and messenger newsletters, CRM-driven loyalty and first-party data, live commerce, programmatic/DOOH and geoservices, and industry B2B portals/e-procurement. We propose a multi-criteria matrix (reach, targeting precision, trust, measurability, skills required, regulatory risks, and fit to agrifood specifics). A comparative table underpins practical guidance for B2C producers (farms, processors) and B2B suppliers (inputs, ingredients, HoReCa): a minimum viable digital stack, priority KPIs (CPL, CAC, ROMI), budget rules across growth stages, and integration with production planning and cold-chain logistics. Compliance aspects (ad labeling, personal data handling, provenance traceability) and seasonality management are addressed. Findings indicate that durable advantage arises from an omnichannel strategy centered on marketplaces and first-party data, strengthened by content, local communities, and automated conversion funnels.

The results of a study of the effectiveness of investments in fixed assets of agriculture in the regions of Russia for the investment periods 2008-2011 and 2012-2015 are presented. More than 22.7 thousand indicators were included in the analytical research. The territories with the highest and lowest values of the studied indicator have been identified. It was found out which indicators of agriculture were affected by this. The positive and negative trends in the studied processes are characterized.