System of normative and legal measures to improve investment of enterprises in Ukraine

Abstract

The paper considers the problems of normative and legal regulation of investment in Ukraine. The basic laws and regulations of Ukraine, which require improvement in the sphere of investment, are determined. The imperfection of the existing institutional environment of regulation of investment activity in Ukraine is analyzed and the necessity of its improvement is substantiated. It is established that the measures for improving the regulation of investment activity should have a consistent, coordinated nature and implement the systemic regulation of relations that arise during the regulation of investment activity. The peculiarities of modern institutional measures in the context of investment conditions in Ukraine are explored. The impossibility of providing local guarantees for the implementation of investment projects in modern conditions is proved. The conditions of state support of investment activity at the expense of state or local budgets are offered. Invalidity of the use of the «single window» principle is established. The real practice of investing in enterprises through the following criteria of the international rating «Doing Business» is described as the lightness of starting a business, the permit system in building, connection to the power supply network, registration of property, obtaining loans, protection of investors’ rights, payment of taxes, foreign trade, fulfillment of obligations under contract and bankruptcy. The set of specified criteria is disclosed through their legislative support and the ways of possible improvement are suggested. The criteria for the effectiveness of doing business are complemented by the specificity of the industry in which the investment is carried out.