ATTRACTING FOREIGN INVESTMENT AS A TOOL FOR ENSURING COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT OF THE COUNTRY

Abstract

The article reveals the essence of investing and its role for the development of the national economy. It is determined that the country's investment activity is a tool for strengthening the national economy which in turn will be an indicator of sustainable development and a high level of competitiveness among other leading countries. It is noted that the national economy is a single socio-economic system that has many components in different sectors of economic activity. In order for the development process to continue, it is necessary to resolve the contradictions that arise between the individual elements of the economic system. The paper identifies the most attractive types of economic activity for foreign investors and highlights the prerequisites for choosing an investment object. Analyzing the foreign experience of the mechanism of attracting foreign investment, the emphasis is on the fact that there are several mechanisms of attracting foreign investment in the world. The main components of the complex mechanism for attracting foreign direct investment are institutional, legal, monetary, budgetary and tax, territorial and organizational mechanisms. All mechanisms of international cooperation for investing in highly efficient Ukrainian companies provide many current and future benefits. It is determined that the world experience of attracting foreign investments is ideal for Ukraine In the light of the above facts, they drew attention to the fact that the issue of attracting foreign investment to Ukraine is very important and needs much attention. On Ukraine's path to sustainable development, attracting foreign direct investment is an important tool for increasing economic prosperity, thereby destroying and restoring national barriers. The article formulates the functions of attracting foreign investment at the micro and macro levels. The study found that an effective mechanism for attracting foreign direct investment to the country as a whole is to be attractive to investors, which leads to real attraction of funds. Attracting foreign investment in the implementation of strategic goals of the state will improve and enhance the efficiency of certain parts of the national economy.