| Since the reform and opening up, the government investment as an important starting point, greatly promote local economic development, improved the total local economy, increased local revenues and local employment and stimulated the growth of local economy greatly through a variety of incentives to introduce a wide range of investment. While the formulation of investment policy is inseparable from the coordinated development of economic, environment, social,, humanities and other aspects. In recent years, some various types of support policies really promoted investment attract investment, and promote local economic and the growth of GDP, but also some policy implementations and economic growth were based on the expense of the environment, taxation, public interests and so on. Therefore, the government how to formulate scientific and rational investment policies to promote the local economy has become an important issue that we have to carry out in-depth research.In this paper, we summarized the local government investment connotation, necessity and functions from the implementation of public policy theory, described the functions of local government investment policy which were guiding industrial development, encouraging development enthusiasm of enterprises, creating excellent investment environment and strengthen market supervision, analysed the problems existed in investment policy such as focusing on short-term effect, excessive policy competition, opaque policy implementation, owing measures under policy and ignoring the environment development. In response to above problems, we analyzed the main causes in-depth, including:imperfect policies, lack of reasonable evaluation system, lack of oversight mechanisms, unscientific government positioning, defective personnel quality and environmental anomie. Particularly in the Gaoyou, we summarized the status of Gaoyou investment and elaborated Gaoyou investment strategies from the rational industrial planning, assessment evaluation mechanism, team-building and good services of investment services and other aspects, we analyzed the role of Gaoyou investment policy in promoting local development from investors, governments, residents, the environment four aspects in recent years. At the same time, combined with the actual situation in Gaoyou, we analyzed the problems exsited in Gaoyou investment policy which were pertinence low integration, single bonus content, few follow-up services and other issues. The existence of these problems which direct impact on the scientific work of Gaoyou investment, stable and healthy development, not only able to attract high-quality investment projects, but caused the investment low efficiency, and weak economy. Finally, we proposed recommendations to further improve the investment policy construction from strengthening the implementation of policy security, sounding scientific evaluation system, clearing government function, improving the quality of performers, changing work ethic and taking into account the investment environment. |