ІНОЗЕМНЕ ІНВЕСТУВАННЯ В ЕКОНОМІКУ УКРАЇНИ: МАСШТАБИ, СТРУКТУРА, ПЕРСПЕКТИВИ

Abstract

The experience of many countries around the world shows the effectiveness of attracting foreign direct investment to the economy. The purpose of the paper is to study the processes of foreign direct investment in the economy of Ukraine, its amount, structure, and prospects for development, as well as to find ways to intensify investment inflows to the country. The article examines the investment attractiveness of Ukraine on the basis of the index of investment attractiveness, calculated by the European Business Association in 2009-2017 years. According to the European Business Association data it has been established that in recent years businesses in Ukraine have not noticed any new negative factors for investment activity, but many unfavorable factors from previous years remain the same (high interest rates on bank loans; high level of corruption; slow pace of reforms; lack of progress in judicial and land reforms, etc.). The dynamics of inflows and outflows of foreign direct investment in Ukraine in 2008-2018 years is analyzed. It is established that for the last six years the country has not reached a significant increase in foreign direct investment at the level of 2008. The structure of foreign direct investment in Ukraine by types of economic activity is studied. It is established that investors are ready to invest only in already developed areas of activity: wholesale and retail trade, repair of motor vehicles, and financial and insurance activities, which provide a sufficient level of profitability. A short-term forecast of the inflow of foreign investments to Ukraine with the help of econometric analysis is developed, a graphic model is built. It is provided that if the trend described by the model is observed in the future, the amount of foreign direct investment inflows will increase in 2020-2021 years. The main recommended measures for Ukrainian government for the improvement of the investment activity in the country are optimization of the tax system, improvement of the procedure for payment of customs duties and taxes, creation of a system of legal protection for foreign investors, etc.