The study is devoted to the issues of economic risk management in investment activities in modern conditions of entrepreneurship development. Methods of theoretical cognition are used to achieve this goal, namely methods and techniques for the study of information and analytical materials (synthesis of a problem situation, problem analysis, extrapolation). Methods of structural-logical analysis and the method for comparing analytical data and summarising the collected analytical information of research materials are applied to identify structural elements and systematise risks characteristic of the Nagorno-Karabakh Republic (NKR). The paper focuses on aspects of political and country risks, the impact of external and internal factors on the implementation of investment and entrepreneurial activities. The issues of both real and financial investments are touched upon, and, accordingly, the issues of increasing economic risks associated with them. That is why there is a need to implement a methodology for systematic assessment

and management of investment risks, which will consider all the factors of influence of the external and internal environment inherent in the conditions of implementation in the Republic of Artsakh, adopted and approved at the level of the Ministry of Economy and the Ministry of Urban Development. It is proposed to create a new management body – the Artsakh Investment Risk Management Society, which will fully assume the function of controlling the entire process, starting from the conception, planning and up to the implementation and liquidation of investment projects and programmes.

Highlights

• The article aims to explore economic risk management in investment activities, particularly in the Nagorno-Karabakh Republic (NKR), by applying theoretical methods and analytical techniques to identify and systematize risks, focusing on political and country risks, and proposing the establishment of the Artsakh Investment Risk Management Society to oversee investment projects and programs.