Investment climate plays a significant role in addressing the problems related to sustainable development of countries, regions, municipalities. The most important component of investment climate is investment attractiveness, which is influenced by many factors, geographical location, natural, material, technical and human resources, production structure, industrial and social infrastructure, etc. The ''investment'' economic category is constantly within eyeshot of researchers, because it defines innovation activity, economic growth, the level and quality of life of the population. Currently, the contours of research activity in this area shift to solving the problem of sustainable development due to growing scarcity of resources and environmental degradation. The problems of sustainable development of socio-economic systems have caught the interest of foreign scientists much earlier as compared to Russia. The challenges and threats arising from the external environment also induced national scientists to study a wide range of problems related to sustainable development due to the need to transfer to an innovation type of development, which has conditioned an increase in investment activity. The research conducted by scientists demonstrates low investment activity of the country and its regions. The article addresses the theoretical aspects of investment appeal, practical approaches to solving the problem on the case of the Republic of Mordovia from the perspective of ensuring sustainable development. The author presents the results of the analysis of factors influencing investment attractiveness, as well as the SWOT-analysis of the situation with investment activity in the Republic of Mordovia. The author also justifies trouble areas in this sphere and the ways to increase investment attractiveness of the region.
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