Increasing the Investment Attractiveness of the Forest Sector of the Voronezh Region Based on Resource Assessment

In sparsely forested regions such as the Voronezh Region, the limited resource base requires the use of precise tools for capitalizing on natural assets. The traditional approach, viewing forests primarily as a source of timber, reduces the region's true economic potential. Economic valuation of forest resources is becoming a key element in shaping the forest sector's investment attractiveness, enabling quantitative assessment of the hidden investment opportunities arising from the exploitation of ecosystem services and strategic reserves. The objective of this study is to conduct a comprehensive resource assessment of the Voronezh Region's forest fund and, based on this assessment, substantiate strategic directions for attracting investment. This study utilizes data from the Unified Interdepartmental Information and Statistical System (EISIS) for 2022-2024, forest inventory materials, and calculations using cost, ecosystem, and comparative methods. The study's results showed that the total economic value of forest resources, calculated using three approaches, ranges from 926 638, 25 rubles (market value) to 8,9 billion rubles (reproduction value), with an annual ecosystem benefit of 51,8 million rubles. A correlation was found between the completeness of resource assessments and investor interest in processing and recreational projects. It was demonstrated that transparent and verified forest resource assessments enable the region to overcome the "resource paradox" of sparsely forested areas, transforming constraints into competitive advantages for "green" investments, enabling the region to transition from a model of direct forest management to a model of ecosystem capitalization.