Allocation of 'Investments and development' for the objects of cultural heritage to the separate activity in Russian Classification of Economic Activities

In modern conditions, the issue of qualification and legal registration of development is becoming increasingly important. The development projects have long been part of the economic practice. However, the absence of codification in OKVED classifier (Russian Classification of Economic Activities) makes it difficult for it to be effectively supported and regulated by the government. The purpose of this work is to substantiate the need to distinguish development as a separate type of activity, analyse possible changes aimed at regulating investments and project management for Objects of Cultural Heritage (OCH). The research implements the method of scientific dialectics, a systematic approach, the analysis and synthesis of theoretical development and regulatory documents. The article examines the specifics of development, including its complex, project-based nature, and suggests specific formulations for OKVED classifier and urban planning legislation. Therefore, the legalisation of development as a special type of activity stimulates an increase in investment activity, establishes the preconditions for the development of the construction market, and promotes a systematic preservation and adaptation of OCH.