Prospects for the development of investment and innovation activity in Ukraine

Perspectivas políticas para el desarrollo de la actividad de inversión e innovación en Ucrania

• Taliat Bielialov Kyiv National University of Technologies and Design, Kyiv, Ukraine. https://orcid.org/0000-0003-4019-755X
• Iryna Shtuler National Academy Management, Kyiv, Ukraine. https://orcid.org/0000-0002-0852-8526
• Dina Tereshchenko National Technical University «Kharkiv Polytechnic Institute», Kharkiv, Ukraine. https://orcid.org/0000-0003-0633-0097
• Nataliia Horiachova State Higher Educational Institution "Pryazovskyi State Technical University", Dnipro, Ukraine. https://orcid.org/0000-0001-9889-3713
• Lesia Pashniuk Selyshchanskyi Granite Quarry, Ltd, Rivne, Ukraine. https://orcid.org/0000-0002-6264-4368

DOI: https://doi.org/10.46398/cuestpol.4176.06

Keywords: strategic investments, investment activities, innovations, human capital, intellectual capital

Abstract

The article is based on general and special scientific knowledge methods by means of which the main investment trends in Ukraine and in the leading economies of the world are revealed. It highlights the prerequisites for stable economic development of the country and, at the same time, investigates the factors of investment attraction. The main problems of the development of investment activities on the territory of Ukraine are described and strategic guidelines for the formation of a positive investment climate are given. As a result of the research, the short- and long-term policy prospects for improving investment and innovation activities in war and post-war times have been determined. In addition, the priority directions of foreign capital investments are considered, which include defense industry, energy, information technologies, processing industry, financial activity and trade. It was concluded that stimulation of intellectual and investment activities in Ukraine requires the introduction of an effective tax system, promotion of international cooperation, improvement of legislation and provision of adequate protection of intellectual property rights.

References

BONDARCHUK, Ivan. How to save and restore the power system during war. Available online. In: https://www.epravda.com.ua/columns/2022/10/20/692870/. Consultation date: 27/10/2022.

DLIGACH, Andriy. 2022. Post-war economic policy will require a complete change of approaches. Available online. In: https://gmk.center/ua/ opinion/povoienna-ekonomichna-politika-potrebuvatime-povnoi- zmini-pidhodiv/. Consultation date: 27/10/2022.

FREEMAN, Christopher. 1987. Technology and Economic Performance: Lessons from Japan. Pinter. London, Ukraine.

GLOBAL INNOVATION INDEX. 2021. World Intellectual Property Organization. Available online. In: https://www.wipo.int/edocs/ pubdocs/en/wipo_pub_gii_2021_exec.pdf# page=6. Consultation date: 27/10/2022.

GUK, Olga; MOKHONKO, Hanna; SHENDERIVSKA, Lina. 2021. “Investment trends in Ukraine” In: Economy and society. No. 29. pp. 14-20.

GUK, Olga; MOKHONKO, Hanna; SHENDERIVSKA, Lina. 2022. Investing in Innovation: A Starter Guide. Kyiv: Polytechnic Publishing House. Kyiv, Ukraine.

HORYACHOVA, Natalia. 2020. Intellectual investments in the innovative activity of the enterprise. Dissertation for obtaining the scientific degree of Doctor of Philosophy in the field of knowledge 05 “Social and behavioral sciences” in the specialty 051 “Economics”. Vasyl Stus Donetsk National University. Vinnytsia, Ukraine.

HULTEN, Charles. 2013. “Stimulating Economic Growth through Knowledge- Based Investment” In: OECD Science, Technology and Industry Working Papers. Vol. 2. Available online. In: http://dx.doi.org/10.1787/ 5k46dbzqhj9v-en. Consultation date: 27/10/2022.

KARPILOVSKYI, Dmytro. 2022. How do retail investors save from inflation and what do they invest in? What areas are most attractive to small private investors during wartime? Available online. In: https://www. epravda.com.ua/columns/2022/05/18/687187/. Consultation date: 27/10/2022.

KOZNOVA, Oleksandra. 2022. Ukraine presented the platform for attracting foreign investments Advantage Ukraine. Available online. In: https:// biz.ligazakon.net/news/213766_ukrana-prezentuvala-platformu- zaluchennya-nozemnikh-nvestitsy-advantage-ukraine. Consultation date: 27/10/2022.

KUSHNIR, Nataliya. 2020. “Analysis of the efficiency of attracting intellectual investments in Ukraine” In: Scientific Bulletin of the Uzhhorod National University. No. 30, pp. 102-105.

LAZORENKO, Larisa. 2017. “Investments as a component of the strategy of socio-economic development of communication enterprises” In: Economics and enterprise management. Vol. 3. pp. 55-57.

MAYOROVA, Tatyana. 2009. Investment activity. Textbook. Center of educational literature. Kyiv, Ukraine.

MINISTRY OF ECONOMY OF UKRAINE. 2022. Almost 700 enterprises moved to safe regions as part of the relocation program. Available online. In: https://www.me.gov.ua/News/Detail?lang=uk-UA&id=36922bf4- 9d07-4cea-8ab1... Consultation date: 27/10/2022.

MIYAMOTO, Koji. 2008. “Human capital formation and foreign direct: Investment in developing countries” In: OECD Journal: General Papers. Vol. 1. Available online. In: https://dx.doi.org/10.1787/gen_papers- v2008-art4-en. Consultation date: 27/10/2022.

MYTYAI, Oksana; SLATVINSKY, Maxim. 2014. “Stimulating investment in intellectual capital and innovation as a basis for economic modernization” In: Bulletin of TNEU. No. 4, pp. 40-50.

OSTROPOLSKA, Evgenia; ASHITKOVA, Yana; CHERENKOVA, Victoria; HOPTAR, Yaroslav. 2020. “Foreign experience of attracting investments in intellectual capital Investments: practice and experience” No. 2, pp. 12-16.

OUR ACTIVITIES AND OBJECTIVES. 2022. Division of Business and Economic Development. Office for Economy and Labor. Available online. In: https://awa.zh.ch/internet/volkswirtschaftsdirektion/awa/ en/standortfoerderung/cluster.html. Consultation date: 27/10/2022.

OVERVIEW OF BUSINESS SUPPORT TOOLS DURING THE MARTIAL LAW PERIOD IN UKRAINE. 2022. Available online. In: https://niss.gov.ua/news/komentari-ekspertiv/ohlyad-instrumentiv-pidtrymky-biznesu-v- period-voyennoho-stanu-v-0. Consultation date: 27/10/2022.

PAINTER, Gillian. 2022. Innovation in Investment Management. The Investment Association. Available online. In: https://www.theia. org/media/savingmatters/innovation-investment-management. Consultation date: 27/10/2022.

RESEARCH AND INNOVATION IN SWITZERLAND. 2021. State Secretariat for Education, Research and Innovation. Available online. In: https:// www.sbfi.admin.ch/sbfi/en/home/researchand-innovation/research- and-innovation-in-switzerland.html. Consultation date: 27/10/2022.

SLASTYANIKOVA, Anzhelika. 2020. “The main guidelines for the development of intellectual entrepreneurship” In: Economic Bulletin of the Dnipro Polytechnic. Vol. 70, No. 2, pp. 37-43.

TYMOSHENKO, Maryna; BONDARCHUK, Nataliia; LYTVYN, Iryna; YURIEVA, Svitlana; BIELIAKOVA, Oksana. 2022. “Prospects of state regulation of venture entrepreneurship in Ukraine” In: Cuestiones Politicas. Vol. 40, No. 74, pp. 6390.

VERKHOVNA RADA OF UKRAINE. 1991. On Investment Activity No. 1560- XII. Available online. In: https://zakon.rada.gov.ua/laws/show/1560- 12#Text. Consultation date: 27/10/2022.

WORLD INTELLECTUAL PROPERTY ORGANIZATION WIPO. 2021. Report for 2021. Available online. In: https://www.wipo.int/portal/ru/. Consultation date: 27/10/2022.

WORLD INVESTMENT REPORT. 2021. Investment and new industrial policies. Available online. In: https://unctad.org/system/files/official- document/wir2021_en.pdf. Consultation date: 27/10/2022.