PRIORITY DIRECTIONS OF ACTIVATION OF INVESTMENT ACTIVITY OF THE REGIONS OF UKRAINE

Abstract

The article highlights the key aspects of the modern development of investment activity in the regions of Ukraine and identifies the actual challenges of intensifying investment activity. On the basis of statistics the peculiarities of investment activity in Ukraine are investigated; characteristics of regional development potential, distribution of capital investments by regions are given, analysis of sources of financing of investment activity is provided. In the process of analyzing motives of investment activities investors were finded market motives. Important motives were the cost of labor, the level of overcoming barriers to import. The study identified a number of objective factors that impede investment activity are particularly acute: the imperfection of instruments to unlock the internal potential of the regions, — insufficient institutional support for investment policy in the regions and on the ground (investment policy development is traditionally the prerogative of the central authorities), tools to unlock the internal potential of regions through regional strategies. The severity of the problem of activation of investment activity is complemented by equally important subjective factors (corruption, low level of infrastructure development, poor protection of property rights, lack of sufficient financial sources for investments, excessive involvement of local authorities in the activity of enterprises). As a result, it is necessary to increase the level of competitiveness of regions by optimizing and diversifying the structure of the economy, ensuring the effective specialization of regions with priority use of their own resource potential. It is necessary to achieve balanced development of territories, development of interregional cooperation, prevent deepening of socio-economic inequality by forming "growth points", activate local economic initiative and strengthen rural potential, ensure socio-economic unity and unification of regional human development. It is necessary to apply new approaches to the formation and implementation of regional development policy, the creation of a unified system of strategic planning and forecasting of the development of the state and regions, optimization of the system of territorial organization of power.