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Evaluation of IT-Investments
378-386Views:83An informatical innovation is essentially a private business in the life of a venture but the ability of evolution and adaptability of ventures is remarkable for the national economy too. This is why it is important to observe the economical effects of IT investments. The introduction of an information system – as in the cases of other investments – requires pre- and post-calculations for payback of fixed assest, thrift and profitability. The operation of an information system means not only one-off acquisition of instruments and intangible assets, but requires continuous development, version control and improvement of hardware in the sake of conservation. There is a high rate of depreciation of IT investments in Hungary, because such goods change too quickly, together with the economic environment. If the conservation of IT instrument value wanted one has to make new expansions continually. IT specialists have determined some indices, one of which is Total cost of Ownership, which is an important indicator for investment analysis. In practice, there are some other models and methods we can adopt in our analysis. In this paper, I collected several relevant and usable methods for pre analysis of IT projects. Management can adopt these models in his investment process to make sound decisions.
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Income and cash flow in some agricultural enterprises of Hajdu-Bihar county on the basis of data in 1997-98
95-106Views:71The income of agricultural enterprises varies greatly according to the type of agricultural production. The available data was classified and averaged on the basis of the form of association.
Although the management of the examined enterprises ensured a profit, closer analysis of their cash flows reveals that, at least in some cases, expenses were not always coverable, despite income. In all forms of association major emphasis was put on improvement and support investments. It is highly probable that later on these investments will result in an increasing income level and profit. The situation is the most advantageous in the case of co-operatives, as the cash flow of the second examined year originated from regular activity could cover the cash flow of investments and financing. In the case of limited liability and shareholder companies the above is not true, but advantageous changes occur there too. Unfortunately, in most cases the role of loans is very important in the operation of the company. As far as favourable aspects are concerned it can be stated that credit repayment covered by the regular activity. -
Effects of the development of production factors on productivity
13-18Views:118In every economic sector, the enacted and expected quality of the products strongly affects its market entry and subsistence. The aim of management is success, competitiveness and subsistence that require adequate human and material resources and enough production stock. We must also notice that the quality of tools and instruments significantly influences work productivity. This applies to both plant production and animal husbandry.
The author researched milk production factors with methodical observation, document analysis and interviews. Data were collected with a ten-year interval, thus this assay can highlight the field, volume and sources of investments during this period and that the production stock increased in most farms and decreased in few. The data also shows the influence of investments on work productivity - there are differences between farms of equal size, so there are still ways of development.
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Investment funding programs on dairy farms in Hajdú-Bihar County
11-16Views:166The dairy farming sector needs constant modernization of its buildings, machines and technology in order to maintain its competitiveness and productivity. For the greater scale investments, these companies try to apply for state funds in addition to their own financial sources. Therefore, the investment support system plays a great role by improving the competitiveness and modernity of these farms. In the last 10 years, 7 funding programs were available for dairy farms. In this research, 25 dairy farms were interviewed in Hajdú-Bihar County. The examined farms cover more than 50% of the milk production in Hajdú-Bihar County. The survey questions focused on the investment funding program use of farms between 2007 and 2017 and renewable energy investments including all programs. The results show how many tenders were submitted, how many were successfully evaluated and completed. All farms had at least two successfully evaluated projects. A correlation was found between completed projects by farm size and completed projects. The connection of the modernity index of dairy farms and the completed projects was also shown.
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Az észak-alföldi mezőgazdasági vállalkozások pénzügyi helyzetének elemzése 1997-1999-es adatok alapján
72-76Views:65The income of agricultural enterprises varies greatly according to the type of agricultural production.
We analysed the financial situation of some agricultural companies from Szabolcs-Szatmár-Bereg and Hajdú-Bihar counties. We got the data from the Department of Justice from reports made between 1997-1999. The available data was classified and averaged by counties.
Although the management of the examined enterprises ensured profit, closer analyses of their cash flows reveal that, at least in some cases, expenses were not always coverable, despite income. Both counties, major emphasis was on improvement and support investments. It is highly probable that these investments will later result in an increasing income level and profit.
Altogether we cannot say which county enjoys a better situation, and what the reasons for the differences are. Further data collection and analyses are needed to find the answers. -
Evaluation of tourism in the Erdőspuszták sub-region
95-100Views:67The Erdőspuszták sub-region established an Association of Local Municipalities in 1992, 10 settlements of which set up the Erdőspuszták Association in 1995, as a voluntary organization. One third of the settlements in Hajdú-Bihar county are handicapped from an economic or infrastructural point of view.
Tourism has become the most dynamically developing industrial sector. Unfortunately, in Hungary and, especially, in the eastern region, this way of earning a living is still in its infancy. Nevertheless, these areas possess such untouched natural values, cultural monuments and unexploited possibilities which could attract tourists.
In my study, the problem is examined from two aspects. First, interviews with mayors are included, consisting of three questions. The leaders of the settlements were first asked about the impact of EU accession, then the most important development plans were mapped and finally the local tourism plans were investigated. Second, I have made an evaluation of each settlement which reviews the infrastructural and environmental conditions, the accommodation and boarding possibilities offered the different tourist attractions and leisure possibilities.
The development of tourism can be an obvious solution to this problem. The toots of tourism entails the creation of job opportunities, the development of infrastructure, the enhancement of living conditions. It has a diverse effect and it contributes to the improvement of living standards in rural areas.
Regarding tourism, it can be stated that each settlement has its own image and value, which the citizens are proud of. It has been realized that collaboration between the settlements could greatly contribute to the development of a tourist programme of several days length, as a result of which the guests would spend more time in the region, which would be beneficial to everybody. My suggestion is that the settlements should work out a plan for the development of tourism jointly, in which they would determine the targets, describe the specific development plans and tasks and elaborate the ideas for the different investments. -
Economic Aspects of Rural Tourism
55-71Views:69necessary to ensure the livelihoods of those leaving the agricultural sector and to supplement the incomes of those working in agriculture. I research rural development in four settlements in Hajdú-Bihar County, in Balmazújváros, Hortobágy, Tiszacsege and Egyek, all bordering Hortobágy National Park.
There are many alternative income sources in settlements in the Hortobágy area, such as organic farming, production herbs, hungaricums, small animals and arts and crafts, as well as rural tourism. Rural tourism is not for subsistence, but a supplementary income source, mainly available during the summer time. I made a survey of rural hosts in the four examined settlements, and according to my results, I constructed a model reflecting the cost-benefit relation, as well as the payment period conditions of rural tourism. I am going to show whether it is worth dealing with rural tourism, and if yes, under what conditions. Rural tourism contributes to the maintenance of rural modes of living, in this way it has significant cultural, economic, ecological and social aspects, as well. It is crucial for settlements to create the appropriate conditions needed for joining rural tourism, if it is worth joining at all, and to realise investments for all these. Rural tourism has strict requirements for the levels of environment, infrastructure and services. Studying the Western-European practices, Hungary is lagged behind in the conditions of rural tourism and rural hosts have done their activities mainly out of necessity and not to maintain traditions. Rural tourism may result in success only by co-operation and over the long-run. -
Public finance resources and regional distribution of rural development
73-77Views:222Rural development, more specifically the economic development of counties have three public finance resources: the municipality, the central budgetary and the labour market fund resources. Based on the provisions of public finance, there are currently five provisions of the municipality resources of rural development: supporting settlements struggling with employment problems, supporting multi-purpose small regions, supporting settlements which are in a difficult position through no fault of their own, supporting public utility development and supporting holiday resorts. The opportunity of increasing investments is using EU funds. The structural change has a favourable direction, the proportion of the economic development program and regional developments increased in the recent years, but their share is still low. The proportion of agricultural and rural development programs which are important from the aspect of rural development is a less favourable phenomenon. Furthermore, the share of human and social development somewhat decreased, but it is still high. Apart from the regional programs, the Budget Act does not specify the regional distribution of budgets, only the professional purposes of uses, of which it is possible to conclude to which county development can be requested resources for.
Between 2008 and 2011, the 13–15% share of the North Great Plain region was close to the population share of 14.7%. In 2012, there was a turn of events in which the necessity of developing the region was shown. In this year, not only the proportion, but also the absolute extent of development resources increased. Therefore, the region could use resources of 16.9 billion HUF in 2010, 31.4 billion HUF in 2011 and 56.3 billion HUF in 2012. In order to properly use these resources, determined utilisation structure is necessary to be performed. The distribution of development purposes provides an explanation for the backward position of the economic performance of Hajdú-Bihar county.
Of the development resources available for four years, the region spent only 12.2% on economic development.
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When and what quantity shall we buy? Optimal cereal – acquisition strategies
175-181Views:61For farm products, it is typical that goods appear in a certain period of time in gross; therefore, from the viewpoint of forestallers/users, it is an important question how much and when to buy and for growers how much and when to sell. Among the costs that have affects on income, we have to emphasize stockkeeping costs (i.e. cost of tied-up capital, ordering costs) and acquisition costs. The last one is very important, because we can
notice great divergences in prices for cereals associated with the significant seasonal factors for a given year, so acquisition prices affect substantially the evolution of our costs.
We can establish the strategies in two steps: setting up 2 models and interconnecting them. One means the strategies that differ from each other in ordering quantities and these comparative analyses. This model contains the analyses of seasonal effects and also the results that we apply in the model. The other one is a dynamical mathematical programming model which – by considering alternative investments – helps us to choose from the strategies in the previously mentioned model that one, which assures us maximum income. -
Renewable energy on animal farms: support system and practical application
13-17Views:147Renewable energy applications were examined in animal farms. The investment support system for animal farms – which has renewable elements – has been summarized through analyzing the legislation and future prospects. The most important in this topic is the Animal Farm Modernization Support, which had several application periods during the 2007–2013 CAP budgets. For analyzing practical application of renewable energies interviews and farm visits have done in Hajdú-Bihar County. The questions covered the general attributes of the farms and the details of the (existing or planned) renewable energy application. In terms of economic analysis saving, the investment return time and the employment effect were examined. The results show wide variety of applied renewable energy application. The investment supports plays great role in renewable energy projects by lowering the return time; and through additional points in application assessing, which is an incentive for farmers to include renewable energy element in their modernization projects.
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Simulation of optimizing decisions and risk analysis in investment plans
160-164Views:85Investments always contain risks, as data referring to the future are planned and uncertain. Therefore, besides feasibility analyses we need to perform risk analyses, as well. Through statistic simulation methods, our aim is to examine how uncertain and prospective data as risk factors affect investment-profitability indices. On the other hand, our aim is to find out the optimal innovation – financing decisions by using decision optimizing
methods. -
The Legal Rules Pertaining to Land Protection in Hungary
324-331Views:83Buildings in industry, mining, transportation and for personal and commercial activities cover increasingly more valuable agricultural land. The increase of sub-urbanization and vehicular traffic and the spread of malls and other kinds of investments are causing serious harm for not only to human society, but to a whole national economy as well.
The law on agricultural land (1994:LV) contains legal rules for the preservation, use and classification of agricultural land. These rules define the temporary or permanent use of land for agricultural and non-agricultural purposes; the scale of the land-protection fee and the rules of the process on cases in which land is used for non-agricultural purposes without the consent of the land registry. In the field of land classification, the law prescribes the regulations which are to be followed in order to define the net income of agricultural land in Golden Crowns.
Hungarian land protection rules are unique in the European Union, because only few member-states have similar laws to ours. Community law does not regulate the member states, except in the case of land classification, because this is the basis of the tax paid on the agricultural lands, but even here, there are differences among the states. -
Operational experiences of a geothermal heat pump system
115-118Views:120Energy consumption nearly 40% operation translates of the buildings in Hungary. In the last 5–8 years we can see a breakthrough in the field of low energy buildings, increasing the demand for buildings 'energy efficient', and realized several successful investments in our country. Nowadays thanks to the application system the number of public buildings increased environmental energy recovery system has been growing such as solar power, heat pumps.
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Coherence and connection between the good pond culture practice and the environment conscious management
60-73Views:72According to the data indicating the decline and restructuring during the past decade, as well as the trend in the European Union member states, it can be expected that the role of traditional agriculture and fish production in direct rural employment decrease further. This also values those strategic directions for restructuring that will lead fishculture from quantity driven to quality production along with sustainable development (i.e. environmental conscious production) and multifunctional farming. This way the economic and social tensions caused by the concentration of the production and labour output can be mitigated.
It is laid in the 1257/1999 Act on rural Development that farmers that enrol the agri-environmental scheme should follow the “Good Agricultural Practice” on the whole managed area. In case of agri-environmental schemes this is a precondition for which no grants are given.
The adaptation of “Good Agricultural Practice” in fishproduction,where it is called: “Good Pond Culture Practice” is considered important on the basis of the above mentioned. This programme is undertaken in co-operation with the Research Institute for Aquaculture, Fisheries and Irrigation, University of Debrecen, Faculty of Agricultural Economics and Rural Development and the Association of Hungarian Fish Farmers and Product Council.
The European Commission proposed the formulation of the European Fisheries and Aquaculture Fund (EFAF) for the period 2007-20013, which will replace the Financial Instruments for Fisheries Guidance (FIFG), but it also consists of several new elements and will be working differently, too. According to the proposal the budget for the Fund will be nearly 5 billion EUR (4963 million EUR). The development level of aquaculture and fisheries and the social and economic significance in the given member state will be considered when distributing the Fund between the Member States.
According to the plan the Fund is organised along five priority axes, of which the most important for the Hungarian fisheries sector is No. II: Aquaculture and the processing and marketing of aquaculture and fisheries products. The main measure areas are the followings:
1. investment support for aquaculture;
2. support for aquatic-environmental schemes;
3. environmental- and animal health issues;
4. investments in processing and marketing
In case of accessing support under measure area No. 2 farms are obliged to meet the requirements of the scheme beyond the “good management practice” for 5 years, which is to be supervised by the approved body of the Member State. For this reason our work is considered to be substantial.
Approval of the application of “Good Pond Culture Practice” is based on two elements: first the prevailing environmental and nature conservation regulations, as well as the list of controllable conditions in the new agri-environmental agreements are to be met. “Good Pond Culture Practice” are to be conducted on the whole farm area. Its main elements are:
- nutrition management,
- feeding,
- pond maintenance,
- stocking,
- harvesting,
- animal welfare (storage and over-wintering). -
Relationships of Fruit Production and Regional Development in the Northern Great Plain Region
181-187Views:85The role of retaining population in agriculture is stronger and more significant in the long run in the North Great Plain Region compared to other regions. The region has a significant processing industry along with a good basis for producing raw materials, developed food processing capicity and high quality agricultural products typical of the region. The GDP in agriculture, forestry and game management is somewhat higher than the national average.
Variety is of cardinal importance when establishing the quality of horticultural products and determining the product value. The Hungarian breeding results of apple, quince, apricot, cherry, raspberry, red and black currant are promising.
The regulation system of EU the vegetable and fruit market is based on Retail Cooperatives Producers. With the establishment of national vegetable- and fruit production and retail organizations, the market regulation, production and quality development issues of the sector can be handled and solved. Reaching EU standards in fruit production can only be achieved with up-to-date plantation systems and breed selection. A key issue in development is establishing the required financial resources for investments and updating production. In order to reach these standards, significant state subsidies and good credit conditions are needed. By solving these tasks, the sector is expected to become self-financed without government help.
The pursuit of safer production, improving quality and increasing yields require the establishment of up-to-date irrigation systems. The improvement of family farms, motivating land concentration is necessary for increasing average size of plants. Establishing the above mentioned conditions is important since the vegetable-fruit sector is of great significance in the employment of rurally based population, improving their living conditions and executing rural development programs. -
Opportunities of renewable energy use in Hajdú-Bihar and Szabolcs-Szatmár-Bereg counties
143-146Views:119Today it's an important role of the renewable energy resources, improving energy efficiency, thereby contributing to sustainable, ecofriendly use of local energy resources. Globally intensify the requirements and considerations related to environmental conservation. In this light, the main objective of the Hungarian energy concept is to maintain long-term security of supply, the economy and the environment occurring contradictions. So there is a need for systems that, in compliance with EU environmental directives, acceptable cost level will ensure the desired and expected security of supply. In the study, three companies and other technical parameters of these are examined. For each undertaking, different results were observed. For two undertakings, we are talking about realized investments, in one case a prognosis was examined. All three companies contributed to the requirement of renewable energy sources reaching 13% in Hungary by 2020.
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Study on Human Resource Management in Agriculture
171-181Views:71The human factor has been reassessed with regard to strategic initiatives towards obtaining and preserving competitive advantage. Knowledge, experience and special skills are a specific form of capital, forming part of the organisations’ assets and serving as an organisational strategic resource. Their development and use require major investments, both on the part of the individual and the organisation. In a Europe undergoing integration, the quality of human resources enjoy priority among our really important values and specific features. The opportunities of the near future can be utilised, and agricultural economic organizations can survive and increase their organizational effectiveness, if they possess a basis of human capital which is able to make a shift in perspective and behaviour which is of primary importance from the point of view of incorporating market mechanisms and implementing them in practice. My investigations were focused on the current position of human resource management in a comprehensive manner; further, on the approach of top managers regarding the future. Analysing the business and other indicators of the companies studied, I have set the objective to describe the differences and special features of the human resource management practice of companies, which are different in size, operational form, and from the perspective of success or failure.
Human resource management is directed to attracting, retaining, motivating and utilising labour. A given work process can be successful or unsuccessful – given the same conditions – depending on who performs it. Therefore, human resource management related tasks require special attention when enterprises are planned, established and operated. On analysing the responsibilities of human resource management, I have found that the functions and responsibilities of human resource have low or medium importance in the operation of economic organisations today. Regarding the future, top managers have expressed higher expectations of human resource management responsibilities in all areas and they consider individual functions to be more important. The establishment and operation of a human resource information system has been presented as the most important need for change. Correlation analyses have proved that the higher the sales revenues of a company, the higher the development of human resources is regarded by its manager, and the same holds for training, career support and a proper establishment and continuous evaluation of job profiles. -
The effect of the “Transcarpathia” Free Economic Belt on the investment activities of the region and its development of foreign trade relations
149-153Views:51The article analyses the figures of foreign investments and their territorial distribution and their change due to the impact of the “Transcarpathia” Free Economic Belt. The article studies the consequences of the liquidation of the “Transcarpathia” Free Economic Belt and the issue of restoring allowances that formerly existed on its territory.
The Free Economic Belt that was founded in 1998 and its customs and tax allowances invoked the settlement of affiliated firms of several world corporations, like the “Eurocar”, the “Yadzaki”, or the “Jabil”. However in 2005 the government of that time repealed all allowances granted by the “Transcarpathia” Free Economic Belt, and due to this the increasing dynamics of the amount of foreign stocks which was penetrating into the economy of Transcarpathia started to decrease. Many companies halted their work which went alongside with closing-down several thousands of workplaces. The working “Transcarpathia” Free Economic Belt had a positive effect on the social and economic indices of the region, so discussions regarding its restoration have already been started between the president of Ukraine and the governor of the region. -
Differences in Regional Development in the Northern Great Plain Region
170-180Views:119An important ambition of EU regional politics is the reduction of disparities. An important strategical objective of the Commission is to terminate underdevelopment and to ensure the development of the regions based on the principles of solidarity, equity and justice. The commission has dedicated forty percent of its common budget to achieve these goals. The differences in development are significantly influenced by the economic characteristics of the specific region, the quality and quantity of human resources, the accessibility of the region and factors influencing local quality of life.
The new spatial structure has been formed by the processes of the change of regime, the events of nineties and the economic renewal based onforeign capital investments parallel with crisis phenomenon. The economic, political and social consequences of the transformation have significantly transformed spatial structure and increased disparities. New disparities have formed, which strengthened due to the formation of east-west slopes and local crisis zones. The outstanding improvement of the capital resulted in great regional development differences, which can be detected when examining regional distribution of gross domestic product. The Eastern part of the country was most heavily affected by the collapse of heavy industry and agricultural mass production based on the Eastern markets.
It is of key importance for the region to strengthen regional competitiveness, which requires the application of consistent development-politics. Economic development is the most important, which can also draw the possibility of establishing welfare infrastructures. It is important to develop the processing industry, the supply networks and to ease the lack of capital it is also important to involve foreign capital. Developing agriculture plays an important role in transforming the structure of the economy. Since the conditions of the region, its traditions and long-term competitive advantages are favorable, thus can represent a greater ratio in the economy than the EU average. The modernisation of the agricultural sector can be promoted by supporting marketing, quality agricultural development and producer-retail cooperation. It is also highly important to promote development in transportation and informatics infrastructure and human resources.
In the future – based on the strength of the region – it is necessary to achieve such a consistent regional development politics, which by validating the principles of regional politics, serves the interest of utilizing regional development supports most efficiently and prevents the irreversible underdevelopment of the region and promotes fast development. -
The Natural, Social and Economic Conditions and Opportunities for Development of Balmazujvaros, Especially in the Case of the Co-operative Kvaliko
77-85Views:75Balmazujvaros as a settlement near Hortobagy has to cope with both advantages and disadvantages. Its natural and social conditions are mainly given, the agricultural characteristic is dominant, and the number of the employed is the highest in the agricultural firms and processing industry. Developing the third sector, including hosting, tourism, eco-tourism, thermal-tourism, may be an opportunity for the city. The subsidy for rural development relating to the SAPARD-programme may contribute to this, as the city is the member of the Association of Hajdu Towns.
The agriculture plays an important part in Balmazujvaros in which production and marketing of vegetables and fruits excel. Several farmers realised this opportunity and founded the Marketing Co-operative of Vegetable Producers in Eastern Hungary, that is the Kvaliko. This PO works in a Corporation form and is constantly developing, spreading and expanding its choice making use of the local natural, social and economic conditions and applications for realising its investments. This PO may set an example for the other entrepreneurs and farmers of Balmazujvaros to co-operate and it may be considered as an already realised opportunity. -
Situation of small and middle sized enterprises in Northern Great Plain Region
69-72Views:104Most of the enterprises operating in Hungary belong to the group of small and medium enterprises (SMEs) which means that their total number of staff is less than 250. The aim of the study is to examine SMEs operating within the North Great Plain region. It provides a short summary of the general characteristics of the region, the situation and significance of SMEs based on the data 2009 and it also clarifies the relevant definitions. The data shows that the enterprise type that is most characteristic in the the region is joint venture (the most popular type is Ltd). It can be laid down as a fact that the number of micro and sole entrepreneurs is also significant in the area. It is also clear that the majority of small enterprises deals
with commerce, while most of the medium enterprises are involved in industry (processing industry). As a continuation of the examination, size of investments, influx of foreign capital, ratio of employed people and grant opportunities are also to be evaluated since these factors influence the operation of enterprises as well. -
Regional Development Differences in Hungary and the Northern-Great Plain Region
62-71Views:116The most important endeavour of European Union’s regional policy is to moderate disparities. An emphasised strategic objective of member states, based on the principle of solidarity, fairness and justice, is to develop regions and almost forty percent of the common budget is devoted to achieving this objective.
Hungary, as a full EU member state, will get a new chance for underdeveloped regions, especially for the Eastern-Hungarian as well as the North Hungarian and North Plain Region.
The differences in development among the regions are significantly influenced by the economic characteristics of the specific region, quality and quantity of human resources, accessability of the region and other factors influencing local quality of life beside natural conditions.
The new spatial structure was formed by change of regime, processes of the nineties, primarily the economic renewal based on foreign capital investments and the crisis phenomena in parallel with these. The economic, political and social consequences of the transformation significantly changed spatial structure and increased disparities. New disparities formed which were further aggravated as a consequence due to the formation of the eastern-western slope and local crisis zones. As a result of the outstanding development of the capital, the long term differentiation of regional development differences can also be detected when examining the regional distribution of Hungarian gross domestic product. The collapse of heavy industry and agricultural mass production based on the eastern markets primarily affected the north-east counties in the eastern part of the country.
Strengthening regional competitiveness is of key importance for the region, which requires the application of consistent development policy. The most important is economic development which, if it operates well, also infers the possibility of establishing welfare infrastructures. Drawing in external sources to ease the significant lack of capital is important for the processing industry and the development of supplier networks. Agricultural development also plays an important role in transforming economic structure, since the characteristics of the region, its traditions and long term competitive advantages are favourable, therefore it is going to represent a higher ratio within the economy than the EU average. The modernisation of the agricultural sector can be promoted by supporting market accession, quality agricultural production and stimulating producer-retailer cooperation. The development of transportation and informatics infrastructure as well as human resource development plays a significantly important role in the development of the region.
In conclusion, the implementation of such a consistent regional development policy is required in the future, based on the strengths of the region, that serves the most efficient utilisation of regional development funds through the implementation of regional policy principles and prevents the irreversible decay of the region while promoting rapid development. -
Regional strategies serving competitiveness
97-101Views:105In my study titled “Regional strategies serving competitiveness”, I examine the regional strategies whose development and implementation in practice play a determinant role in the medium- and long run economic and social development of the given region. The study primarily focuses on the infrastructural basic investments that are essential from the aspect of creating a knowledge-based information society. The study also deals with a stakeholder analysis used by investors in order to focus on the quality of state administration and institution system.