Comprehensive analysis of the distribution of foreign investments in Russia’s economy by industry and region. Trends and changes in the distribution of foreign investments in the 90s and early in the 21st century are studied against the background of the world economic situation. On the basis of a great body of statistical data, the authors describe the specific features of different industries and regions as recipients of foreign capital and analyze forms and methods of its attraction. Having studied the foreign experience, that of industrialized countries and transition economies in particular, the authors have worked out recommendations for optimization of the pattern of foreign investments, enhancement of its social orientation, consolidation of the investment base for the sustainable growth of the economy at large, as well as of individual industries and regions. The authors also look into possible ways of improving the legislative base for the regulation of foreign investment on the federal and regional levels.