Strategic Documents for Priorities and Prospects of Construction Industry in Russia

Abstract

The priorities and prospects for the development of the construction industry in Russia depend on a set of strategic documents. The domestic construction industry is a promising area because the state needs to update and improve the housing stock. However, the current market instability indicates many potential risks. In this context, the strategy for the development of the construction industry becomes a priority because certain problem areas make it neither perfect nor effective: the construction industry requires strict state control and a new, unified pattern for strategic decisions. To date, the industry lacks systematic financing programs, which aggravates the situation as medium-sized construction businesses are gradually losing their positions, giving way to large companies. The construction industry has always been the most important element of the national economic system and the key engine of the Russian economy. However, it has accumulated negative phenomena that threaten its strategic development potential. In this regard, the industry needs basic strategic documents aimed at improving the standard and quality of life by providing affordable but high-quality housing. The article describes the opportunities and threats as the basis of the development strategy for the construction industry in Russia, as well as proposes a number of strategic directions that could improve the system of strategic documents.

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