Ways to increase the effectiveness of mechanism to ensure public policy to attract foreign investment in regional development

Mital Olena
PhD PhD in Economics, Associate Professor of Hospitality and Sustainable Development, Taurida National University, Kyiv, Ukraine, e-mail: mital2006@ukr.net

Ladonko Liudmila
Doctor of Economics, Associate Professor, Department of Public Administration, Kyiv National University of Trade and Economics, Kyiv, Ukraine, e-mail: ladonkoluda@gmail.com

Kalinko Irina
Ph.D in Technical Sciences, Associate Professor of the Department of General Economic Disciplines, Financial- Legal College, Kyiv, Ukraine, e-mail: kalinko_ira@ukr.net

Cite this article:

Mital O., Ladonko L., Kalinko I.Ways to increase the effectiveness of mechanism to ensure public policy to attract foreign investment in regional development. Scientific Bulletin of the Odessa National Economic University. 202. № 3-4 (280-281). pp. 70-76.

Abstract

The article is devoted to the study of investment policy of Ukraine, which in each region of Ukraine has its own characteristics, which are due to the following factors: economic and social policy pursued in the region; the magnitude of the available production potential; geopolitical location; natural and climatic conditions; attractiveness of the region for foreign investment. Modeling of the investment environment of the host country is an important element in the development of state policy to encourage and regulate foreign direct capital and is one of the components of the process of modeling the investment environment of the country. The article forms a mechanism for regulating the attraction of foreign investment. The basic principles of organization of state management of investment processes at the regional level are analyzed. Mechanisms of state and regional management of investment processes in Ukraine are determined. The investment processes in Ukraine are studied and the factors of their activation and influence on the development of the country’s production potential are generalized. An improved mechanism for attracting foreign investment is proposed, which is aimed at creating a favorable investment climate and increasing investment activity. The basis of this mechanism is an economic and organizational unit based on a sound conceptual framework and strategy for attracting foreign investment, a system of tax benefits, prioritization of foreign investment, expanding opportunities for foreign investors in the privatization process and the creation of joint ventures.

Keywords

industry, public administration, investment policy, foreign investment, regulatory mechanism.

JEL classification: R100, K200, G300

УДК: 330.322

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