INVESTMENT MANAGEMENT CHALLENGES AND CONTRADICTIONS IN THE TECHNOLOGICAL INFRASTRUCTURE OF FORESTRY AND PRINTING SECTORS WITHIN CREATIVE INDUSTRIES

The article analyzes the problems and contradictions of investment management in the technological infrastructure of the forestry and printing complexes within the system of creative industries. The relevance of the study is determined by the growing role of creative industries in the economy and, at the same time, by their high dependence on the material and technological base of traditional sectors, primarily the pulp and paper industry and printing. Under the transition to sustainable development models and the strengthening of circular economy requirements, the technological infrastructure of these industries becomes a critical factor in the formation of value chains for creative products. The study demonstrates that investments in the technological infrastructure of the forestry and printing complexes have specific characteristics associated with high capital intensity, long implementation periods, technological inertia, and limited adaptability to the requirements of creative production. These features conflict with the high uncertainty of creative demand, the project-based nature of production, and the need to work with innovative and designer materials. Attention is paid to managerial and organizational constraints affecting investment decision-making, including the dominance of short-term financial priorities, insufficient methodological development of infrastructure investment efficiency assessment, and weak coordination of intersectoral interactions. Based on the analysis of empirical data and the results of a survey of representatives of the printing business, key barriers to the development of investment activity are identified. These barriers are related to the high cost of innovative materials, limited availability of equipment for complex processing stages, and increased risks to the profitability of creative orders. The study concludes that there is a need to improve the methodology of investment management in technological infrastructure, considering the specific features of creative industries and the requirements of sustainable development.