INVESTMENT ACTIVITY AS A DIRECTION OF IMPLEMENTATION OF THE STATE POLICY OF SUSTAINABLE DEVELOPMENT

Abstract

Introduction. The article reveals the scientific vision of investment activity as a direction of implementation of the State policy of sustainable development. Goal of the article is to substantiate the consideration of investment activity and its activation not only as objects of investment policy, but also as a policy of sustainable development. Research methods: to prove the significance, determine the place and role of investment activity in the implementation of sustainable development policy, a systematic approach, statistical methods, analysis and synthesis methods were used. Results: the content of the concept of "investment activity" is revealed. It is clarified and substantiated that the purpose of investment activity, in addition to obtaining commercial and social benefits, should include the environmental effect. The content of the components of sustainable development of society is disclosed. They represent a triune concept of sustainable ecological, social and economic development, the implementation of which requires a clear policy and specific actions on the part of the State as a public institution, based on the principles of democracy, openness, public participation, economic, social and environmental efficiency. It is stated that the movement of our country along the path of sustainable development is laid down in the Sustainable Development Strategy "Ukraine - 2020". It is argued that the vectors of development, security, responsibility and pride defined by the Sustainable Development Strategy "Ukraine - 2020" require investment activity and its intensification. It is proved that the need for development of organizations of various types as elements of the Ukrainian economy, and their production of quality products and services makes organizations search for new management technologies, production methods, and new products. The instrument of such development is their investment policy and investment activity. It is emphasized that the investment policy of an organization should be implemented in accordance with other types of state policy (social, environmental, tax, local development policy, etc.), be documented, be information accessible to investors, and adapt to changes in the external environment (institutional, infrastructural, investment, etc.). It is noted that real investments are the way to implement investments in the fixed assets of organizations, and their form, for example, is the ecological modernization of production, the introduction of environmental technologies. The author summarizes that the main entity establishing the "rules of the game" for investment activity is the State. It develops and implements both investment and other types of policies (sustainable development to harmonize economic, social and environmental activities of various management and regulatory entities; financial and budgetary - to create a fair tax environment; regional - to stimulate regional development and create appropriate living conditions for the population; and entrepreneurship regulation - to create a favorable business environment, stimulate business growth, and technological development of production). Thus, investment activity and its intensification should be the result of the implementation of not only investment policy at various levels, but also a direction for the implementation of other policies, in particular, the policy of sustainable development.