The paper addresses key challenges for investment activity in the Russian Federation. The research?also shows that investment behavior of Russian companies differs depending on the industry and the?region of activity. This allows suggesting the mechanisms for overcoming investment passivity of the?Russian business. We argue that necessary measures in this field are the following: improving the?investment climate, especially in terms of guaranteeing stable fiscal business environment, protection?of entrepreneurs from the law enforcement agencies of pressure, reform of the judicial system in the?direction of its real independence from the executive authorities; increasing financial availability for?Russian business, primarily cheaper borrowing; ensuring the growth of real incomes of the?population and, accordingly, poverty reduction; technical re-equipment of companies based on?modern technologies. The reported study was funded by Russian Foundation for Basic Research?(RFBR) according to the research project № 19-010-00198.