INVESTMENT ATTRACTIVENESS OF UKRAINE: TRENDS, PROBLEMS AND SOLUTION KEY VECTORS
DOI:
https://doi.org/10.31649/ins.2023.1.164.175Keywords:
investment, investment attractiveness, investment climate, foreign direct investment, investment attractiveness indexAbstract
The article examines the essence of the concept of "investment attractiveness" and defines the main prerequisites for attracting funds to the economy of Ukraine. In essence, the country's investment attractiveness is a characteristic that reflects the profitability or disadvantage of investing money in the country. Attention is focused on the results of the influence of economic, social and geopolitical factors on the country's investment attractiveness. Key factors of Ukraine's investment attractiveness are highlighted.
The authors analyzed the size of direct foreign investments in Ukraine during 2018–2022. The list of the main investor countries in Ukraine in 2021 is given. The most attractive industries for foreign investment in Ukraine have been analyzed. The investment attractiveness index of Ukraine was evaluated during 2018-2022.
We believe that one of the prerequisites for the stable economic development of the country and its regions is the formation and maintenance of a favorable investment image in the minds of potential investors. The defining task of state policy in the field of investment activity is the formation of a favorable investment climate and the reduction of investment risk for foreign investors.
The main problems of the development of investment activities in Ukraine are outlined. Russia's full-scale military aggression against Ukraine continues to lead the list of factors that have a negative impact on the investment climate, attacks on the Ukrainian energy system are in second place, and corruption is in third place. Among the few positive changes, the business leaders highly rated granting Ukraine the status of a candidate for EU accession, the cancellation of customs duties and quotas for Ukrainian exports and "transport visa-free" from the EU.
The authors provide strategic guidelines for the formation of a positive investment climate in Ukraine and analyze the causes of an unfavorable investment climate. Ways to increase investment attractiveness in Ukraine are proposed.
We believe that investment attractiveness is a complex multifaceted economic category and reflects the complexity of the macroeconomic space from the point of view of the existing investment climate, the state and level of development of the relevant investment infrastructure. Effective implementation of investment activities is the foundation for the development of the economy of Ukraine, accelerates its integration into the European socio-economic space.
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