INVESTMENT CLIMATE IN UKRAINE AND ITS INFLUENCE ON THE INVESTMENT ACTIVITY OF ENTERPRISES

Abstract

The article describes the state and prospects of investing in entrepreneurship of the Ukrainian enterprises in the conditions of globalization of financial and economic relations. The conceptual base of investment problems within the framework of functioning of enterprises has been clarified. The country's investment environment has been researched, the main problems of investment activity have been considered, the theoretical knowledge has been systematized and deepened, and the theoretical foundations of the formation of the investment climate in Ukraine have been analyzed. It is proposed to evaluate prospective changes in the investment climate in the economy of Ukraine and the Zaporizhzhia region. Effective implementation of investment activities at the present stage is the basis for the development of the economy of Ukraine, ensuring the possibility of its integration into the European socio-economic space, improving the competitiveness of domestic enterprises. In order to increase the volume of foreign investments, it may be advisable to implement such measures as: setting up a special advisory body (within the framework of joint committees that will operate under the terms of the EU-Ukraine Association Agreement and FTA), which will be responsible for coordinating and developing investment cooperation between Ukraine and the EU; establishment of an institution in Ukraine that would take care of pre-trial (or extra-judicial) protection of the interests of foreign investors, taking into account international standards and business ethics; simplification of procedures for regulation of relations between the state and entrepreneurs in the sphere of attracting foreign investments; introduction of a reliable legislative system of insurance and reinsurance of investment risks, establishment with participation of the state of an insurance company and ensuring its entry into the international insurance markets; granting the foreign investor the right to lease a land plot to place an enterprise with foreign capital for a favorable term for it; creation of a legal framework on the regulation of relations on attracting foreign investments for the development of mineral deposits; ensuring the implementation of special investment regimes in free economic zones and territories. Thus, the implementation of appropriate measures will eliminate a number of risks, revitalize the national economy and enter international market places. The example of the European countries confirms that the economy begins to flourish. Thus, in order to reach the level of development that Poland has, it is necessary to attract twice as much investment in the current 10 years as it is now. At the same time, it is necessary to invest in industries that are export-oriented, and then, perhaps, our country's economy will start to develop. Ukraine cannot stand aside from the global processes of globalization and therefore has all the rights to attract foreign investment.