INVESTMENT AND INNOVATION MECHANISM OF COMPETITIVENESS FORMATION OF AGRICULTURAL ENTERPRISES IN CONDITIONS OF SUSTAINABLE DEVELOPMENT

Abstract

Introduction. Structural changes in the national economy and modern economic conditions encourage agricultural enterprises to seek new approaches to ensuring the competitiveness of both products and the competitiveness of the enterprise as a whole. Unfavorable investment climate, imperfect innovation environment, lack of socio-economic influence of the state hinder the development of the agro-industrial sector, the use of foreign progressive experience in technology and organization of production, modern forms of management, which is a crucial basis for improving their efficiency and competitiveness. The purpose of this article is consideration and analysis of the essence of the investment and innovation mechanism to ensure the competitiveness of the agricultural enterprise in terms of sustainable development and identify key factors influencing the competitiveness of the enterprise. Results. The article considers issues regarding the investment and innovation mechanism of forming the competitiveness of agricultural enterprises. It is emphasized that the agro-industrial complex determines the specialization of Mykolaiv region in trade of grain and oilseeds, which poses a threat to the sustainable development of the region’s economy due to dependence on the world situation. The dynamics of foreign trade volumes by the enterprises of Mykolaiv region are analyzed, the main partner countries and export-oriented products of a vegetable origin are outlined. The structure of direct investments by the countries and by types of activity in the economy of Mykolaiv region in 2018 is considered. Attention is paid to the factors that hinder the attraction of investment in the field of agricultural production. Conclusions. It is determined that the mechanism of investment and innovation policy in the agricultural sector of the economy includes economic, organizational, legal and social measures. A number of measures to improve the investment and innovation mechanism to ensure the competitiveness of agricultural enterprises in Mykolaiv region are proposed. It is established that with the development of information and communication technologies, it is the smart specialization of the region that is able to intensify structural changes in the economy and increase the competitiveness of agricultural enterprises in terms of sustainable development. Key words: investment, innovation, competitiveness, enterprise, smart specialization.