Subject The article discusses the issues of import-substitution strategy chosen to realize by the RF constituent entities. Objectives The article aims to develop an economic and mathematical model for assessing the effectiveness of the import-substitution strategy at the regional level, identify the related problems in St. Petersburg, and propose certain measures to improve the implementation of the import-substitution strategy in the city. Methods The main research methods are the study of scientific works, mathematical processing of experimental data, a comparative analysis of results, economic and mathematical modeling, and the tabular and graphical methods. Results The paper presents an integral model for integrated assessment of the effectiveness of the implementation of import-substitution strategy at the regional level. It identifies the key problems related to the low efficiency of projects in this area in St. Petersburg and proposes a number of activities to improve the import-substitution process in the city. Conclusions The region's lack of innovation, high investment risk and imports dependence cause inefficient import-substitution strategy implementation in St. Petersburg. To enhance the effectiveness, integration and cooperation, public financial support for new industries and R&D, and the reduction of transaction costs are economically expedient.
Keywords: import substitution, dependence on imports, regional, strategy, effectiveness
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