INSTITUTIONAL BASIS FOR THE FORMATION OF THE REGION�S INVESTMENT POTENTIAL

Abstract

The article considers the institutional framework for the formation of the country and the region investment potential. The state and prospects of Ukrainian legislation in the field of investment, as well as the organization of attraction and support of investments at the state and regional level are investigated. The necessity of systematization of investment legislation of Ukraine, the outcome of which should be the adoption of the Investment Code. It is also grounded that the process of attracting and supporting investments, namely the creation of a separate body for which it would be assigned the task of promoting foreign investment both at the state and at the regional level, also needs to be improved. It is determined that the necessary conditions for increasing the investment activity of domestic enterprises at the state level are the formation and implementation of a well-balanced investment policy, ensuring favorable business climate in the country, development of investment and infrastructure provision of investment processes, etc. At the level of regions and certain sectors of the economy, the development and implementation of regional and sectoral investment development programs should contribute to the effective implementation of investment activities. It is expedient to create a special body that would engage in investment and support of investment projects at the state level, and also had its representative offices in all regions of Ukraine, which would be engaged in supporting local investment projects. This will enable the creation of an effective regional policy, the formation of investment attractiveness, and, thus, to ensure the receipt of investment resources.