Despite the significant amount of research on the diagnosis and formation of an attractive investment climate, reducing investment risks and improving incentives to invest, they largely remain controversial. It is, therefore, necessary to focus on the development of scholars and practitioners' facilitating solutions that would receive public recognition and contribute to the implementation of concrete measures to create a favorable investment climate at all levels of the hierarchy. The article outlines a new approach to the diagnosis of the investment climate with the AVS-matrix proposed by the authors. The authors also proposed an original algorithm and turn-based method of determining the diversifiable investment risk (the risk premium) in the system of factors - levels - risks. Using the proposed method shall help to identify the factors of investment activities that act as barriers and constraints, and to develop adequate measures to increase the investment attractiveness of the country, territory, industry and enterprises. It will provide an opportunity to formulate adequate directions and to develop concrete measures to reform the investment policy. It will also allow adequately evaluating the investment risks and deciding how and to what extent the situation in the country, the region and the industry impacts on the ability of a particular company in reducing investment risks, in attracting investment for the implementation of investment projects. It will also provide an opportunity to develop management measures for each particular level, the implementation of which will contribute to motivating and stimulating the role of some factors and reduce the impact or complete elimination of the factors that contribute to increased unsystematic risk in attraction of investment.
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