Organizational and economic bases of investment and innovative projects selection for sustainable development of the region

The aim of the article. The aim of the article is to improve scientific and methodological approaches to the selection of investment and innovation projects at the regional level for its sustainable development.The results of the analysis. It was improved the model of pre-selection formation of portfolio projects on the base of organizational and economic mechanism of formation of a portfolio of innovation and investment projects that can be implemented for the sustainable development of the region. The scheme of the organizational and economic mechanism of selection of innovation and investment projects for sustainable development, which includes factors of region development, factors of development of the enterprise and the time factor. It was proposed to consider the selection of innovation and investment projects for the sustainable development of the region basing on sustainability criteria expected results from such measurements as financial, economic, institutional, social and environmental. The scientific approach to the evaluation and selection of innovation and investment projects allows totake into account the value of each project in terms of sustainable development, to provide support for decision-making on expediency of their further implementation on the basis of pre-selection.Conclusions and directions of further researches. It is shown that the project portfolio is formed in order of increasing value of project rating. Time factor is taking into account in the fact that conditions are changing in time period t> 0. Pre-formed set of projects or part of it can be attributed to the reserve portfolio and if necessary, after improving, to pass when the time selection procedure is proposed by criteria. Thus, it is improved the organizational and economic approaches to the formation of a portfolio of innovation and investment projects, which provides support for decision making on the advisability of further implementation of projects based on their complex selection.