IDENTIFICATION OF COMPETITIVE ECONOMIC SECTORS IN THE CHUVASH REPUBLIC WITH THE HELP OF INDUSTRIES RANKING

Abstract

The article assessed the attractiveness of the industry of the Chuvash Republic to form a strategy for the competitiveness of the industry. The calculations used indicators such as: settled financial result (profit-loss), the level of profitability of sold goods, products (works, services). It was concluded that the most cost-effective industries where the efficiency of the use of material, labor and monetary resources is highest are manufacturing. Based on the data, priority development industries have been identified that have the best positions in the sum of places in the Chuvash Republic: food production; production of chemicals and chemical products; paper and paper products; production of chemicals and chemical products; production of computers, electronic and optical products; production of electrical equipment. Recommendations are given to increase the competitiveness of the region's industry by creating regional clusters. In the Chuvash Republic, clusters can be created in the following sectors: manufacturing, including the production of electrical equipment, textile and clothing production; chemical production. At the initial stage, the cluster cannot exist without the support of the authorities. State assistance is needed for the implementation of projects of cluster members in the development of innovations, equipment modernization, and in improving the skills of workers. Therefore, the formation of clusters should be among the strategic tasks of the region, as it affects the economic development of the region and leads to the development of a strategy for introducing innovations in industries.