Bìznes Inform (Oct 2023)
Development of the Investment and Innovation Environment in Ukraine and Ways to Restore it in the Post-War Period
Abstract
The article examines the prerequisites for the development of the investment and innovation environment in Ukraine and suggests ways to restore it in the post-war period. The structure of investment and innovative development is determined and a characterization of its components is presented. A characterization of solving the general economic problems is given and the possibility of solving them at the expense of the State budget of Ukraine is analyzed. The necessity of attracting capital from international partners is substantiated. Some effective ways of using investment and innovation capital at Ukrainian enterprises are proposed, taking into account the importance of restoring and developing strategically important sectors of Ukraine in terms of economic renewal of Ukraine. For the purposes of research, methods of studying and generalizing the information, general theory of systems, system analysis and analysis of statistical data were used. The authors emphasize that the stabilization and development of the economy through the investment and innovation process will allow changing the structure of the State budget of Ukraine, increasing budget revenues and reducing costs, thereby more effectively managing the processes of resolving the economic crisis caused by russian aggression, as well as directing the funds that should be received to the budget as a result of the reparation procedure to restore the country’s economy. It is important to remember that there is no way to restore the economy in a short time, since the economy itself is an interconnection of many factors, therefore the authors substantiate that the economic development strategy should include, first of all, the restoration of infrastructure, the construction of new factories, investments in key industries of the economy of our country, and development of the creative industry. This can be implemented primarily due to changes in legislation for potential investors from abroad and domestic entrepreneurs in Ukraine, directed towards developing and supporting the small and medium-sized businesses. The conclusions made in this article can be used by economic entities to develop and establish guidelines for the activities of Ukrainian enterprises.
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