Abstract: The article examines the process of formation and evolution of the investment policy of the Republic of Bashkortostan during the period of the market reforms of the 1990s and the modernization transit of the early 21st century. The subject of this research is the formation of the regional investment legislation and the interaction principles of the executive authorities of Bashkortostan with the subjects of investment activities within the context of the contemporary phase of the socio-economic history of Bashkortostan. The author focuses attention on such aspects of the named topic as Bashkortostan hosting international exhibitions and investment forums, the establishment of a banking business center in Ufa, the construction of technology parks, and the creation of territories of advanced socio-economic development (TOSER). The study's aim is to identify the key features and results of the investment strategy of the Republic of Bashkortostan in the 1990s - 2010s. The study's research methodology was determined by the modernization paradigm of the historical process in question, taking into consideration the variation of civilizational and regional development models. The author carried out his research on the basis of the systematic approach, using the special methods of retrospection, actualization, comparative historical, and other methods. The article's novelty lies in its identification and synthesis of the factual material that thus permits to recreate a scientifically objective picture of the formation of the investment strategy of the Republic of Bashkortostan. The presented periodization of the investment process in Bashkortostan is derived from the development of the legislative framework of the region's investment policy and the dynamics of the quantitative indicators and target vectors of attracting investment capital to the regional economy in the 1990s, 2000–2011, 2012–2017. The author comes to the conclusion that the contemporary history of the Republic of Bashkortostan clearly demonstrates the possibilities and prospects of its investment policy as an effective mechanism for the development and modernization of the economic, technological and socio-cultural space of the Russian regions.