ANALYSIS AND PROSPECTS OF AGRIBUSINESS DEVELOPMENT: REGIONAL ASPECT

Abstract

Domestic agricultural sector is a strategically important structure in the national economy. This sector ensures food, economic, environmental and energy security, contributes to the development of other sectors and forms socioeconomic directions of state development. Agribusiness development is a contemporary feature of progressive changes in state agriculture. Agricultural business should be considered as the most progressive and highly efficient form of joint organization of food production. Agricultural entrepreneurship is considerably important for structural transformation of the economy, development of domestic commodity production, competition, and increase in employment of rural population. Economic efficiency of domestic agricultural production has a distinct regional differentiation, which depends on available resource capacity of the region, investment and other factors. Their detailed analysis and evaluation is an important reserve for increasing competitive ability and profitability of domestic agribusiness in the context of an individual region. Zhytomyr region is a developed agribusiness region of Ukraine. The development of agricultural sector in the region over the past years has been characterized by an increase in both production and economic indicators. Prospects for further development of agricultural business are related to a number of factors. They include improvement of external and internal environment, innovation and investment provision, completion of land reform, increase in production volumes of agricultural products, further development of information and analytical support of the sector, technical and technological modernization of agro-industrial production, and agro-industrial integration.

Keywords

• agricultural sector
• agribusiness
• agricultural products
• efficiency
• competitive ability
• analysis
• prospects
• region
• development