This article highlights the theoretical and practical aspects of regional economic development based on the efficient use of investments. The dynamics of gross regional product and the volume of assimilated investments in fixed capital across the regions of the republic are analyzed. Furthermore, the technological structure of investments in fixed capital has been studied as an indicator of investment efficiency, and a comparative analysis with foreign countries has been carried out. In addition, proposals have been developed for promoting regional economic development based on the effective utilization of investments.

In this research work, autoregressive distribution lag (ARDL) models have been developed that assess the long-term and short-term influence of factors influencing the sustainable socio-economic development of the region on the volume of GRP per capita. Based on the developed models, the priority levels of factors were determined.