Technological factors of intercountry competition in the African investment market
The intercountry competition in investment markets of numerous African countries has noticeably intensified in 2015-2019. Such nations depend upon the situation on the global market. The inflow of foreign direct investments (FDI) to their economies is determined by the importation of modern technology and the relevant intensification of local competition driven by multinational enterprises (MNE). Some progress in Russian-African investment relations has been achieved recently. The authors reason recommendations on improvement of investment models, methods, forms, and instruments used by Russian enterprises in Africa. The article discovers some first-step goals and priorities, necessary to be undertaken for enlarging the inflow of Russian FDI to the continent and competing with the MNEs in technological advances. Such investments will be comprised of private entrepreneurial capital and will be realized in extractive industries and manufacturing of some basic Russian trade partners and counteragents in the African region. Russia should establish an investment development bank, an information center, and holding companies for instrument making industry (including manufacturing of equipment for power plants) and food processing. African nations are advised to strengthen their investment promotion agencies and to establish a Russian information office of the African Union.