Volume Of Investment Research Articles

Российская и зарубежная практика искусственного интеллекта в банковской деятельности и его значимость для бизнес-процессов

The research is devoted to the study of the features and possibilities artificial intelligence in banking, substantiating its importance for the business processes of modern commercial banks. The Russian and foreign banking practice of using artificial intelligence, the volume of investments in the development of technology are considered. The assessment of the level of digitalization of the banking sector is given and the leading banks that are active users of artificial intelligence are identified. Particular attention is paid to the use of technology in the field of lending. The main problems of banks in assessing potential borrowers are identified. With this in mind, technological solutions have been developed aimed at improving the accuracy and efficiency of artificial intelligence when considering loan applications

ANALYSIS OF THE INTERACTION OF REAL ESTATE AND FINANCIAL MARKETS OF THE REPUBLIC OF ARMENIA OVER THE PAST FIVE YEARS

The real estate market is influenced by the development of the real and financial sectors, as supply and demand in this market depend on the state of the economy and the financial system of the country. The vulnerability of financial stability from fluctuations in real estate prices is mainly considered from the point of view of lending to the construction industry and loans secured by real estate, the materialization of risks of changes in the value of collateral. Sharp fluctuations in supply/demand for real estate, and consequently prices, may adversely affect the security and quality of bank loans, creating risks in terms of financial stability. The real estate market is an extremely important economic player. Real estate, in addition to meeting one of the most important needs of society, is one of the main "reserves" of wealth in the economy. Thus, in developing countries, the market value of shared real estate is usually many times higher than the capitalization of financial markets and the volume of investments coming into the country. This is a unique source of economic "energy". The evaluation and analysis of real estate in Armenia, the use of weak analysis methodology, are considered to be the causes of problems in the real estate market with incorrect versions and procedures, the lack of high-quality data on local markets, unreasonable market research and investment decisions based on them.

Інвестування нафтогазовидобутку в ТНК: тенденції, еколого-економічні проблеми та пріоритети

It is substantiated that the intensification of the global environment protection movement in recent decades, the key component of which is the development of tools for transferring national economies to a model of low-carbon development, has had a decisive impact on the dynamics of investment in projects for the development of natural resource potential, primarily hydrocarbons. It has been found that the reduction of dependence of individual countries of the world on oil and natural gas directly depends on the diversification of energy sources to meet the needs of socioeconomic development through the development of the industry for the production of energy from renewable sources. It is proved that the decrease in the volume of production of hydrocarbons and energy carriers produced on its basis is an important factor in the transition of national economies to the model of low-carbon development, in particular, reducing the negative impact on climate processes. It is found that in the sector of «hydrocarbon» TNCs (BP, Shell and Chevron) during 2011–2022 there was a generally downward trend in the dynamics of investments in oil and natural gas production, which has led to significant conjunctural fluctuations in the global markets of hydrocarbons and to structural shifts in the energy balance of many countries of the world. It has been found that BP, Shell and Chevron, along with investing in oil and gas production, finance projects related to the production of energy from alternative sources, which has led to a reduction in capital injections into fossil fuel production and diversified the investment portfolio of these companies, minimizing the risks of reducing their capitalization in the context of diversification of the range of energy carriers in the global and national energy markets. It is proved that the decrease in the volume of investment in oil and gas production in the sector of «hydrocarbon» TNCs (BP, Shell and Chevron) has led to a reformatting of the global energy landscape and created additional prerequisites for increasing the amount of funding for alternative energy projects and solving a set of ecological and economic problems associated with the transition to a low-carbon development model.

ТРАНСНАЦІОНАЛІЗАЦІЯ ЕКОНОМІКИ УКРАЇНИ: КОРИСТІ ТА ЗАГРОЗИ

Transnationalization of the economy means the process of integrating national economies into the global economy through increased international trade volumes, investment operations, technological exchange, and other international economic processes. The benefits of Ukraine's transnationalization of the economy include increasing external trade and investment volumes, raising the level of technological development, and attracting foreign investment, which can increase production capacity and GDP growth. However, there are also threats associated with the transnationalization of the economy, such as loss of control over the national economy, increased economic dependence on other countries, worsening environmental situation, and others. In today's global development conditions, competition at the international level is important not only in the amount of foreign investment attracted but also in their quality. Therefore, improving and preserving Ukraine's economic interests requires regulation of the processes of attracting direct foreign investment flows. As a result of studying and researching the impact of foreign investment on Ukraine's economic development, foreign investors have two main goals: growth of export potential and entry into the domestic market. That is why the study and analysis of Ukraine's transnationalization of the economy is an important direction of economic research and country development. The article discusses the benefits and threats of Ukraine's transnationalization of the economy and its national economy, as well as highlights opportunities to increase competitiveness and attract investment. In addition, possible ways to minimize risks and increase benefits from the process of Ukraine's transnationalization of the economy are considered. Transnationalization can have both positive and negative consequences for the economy of Ukraine. Therefore, it is important to determine what would be more acceptable for our country under modern conditions.

Հարավային Կովկասի հանրապետությունների տնտեսական զարգացման առանձնահատկություններն ու միտումները / The peculiarities and tendencies of economic development of the South Caucasian states

The study and analysis of the history of economic development of the states of the South Caucasus in the post-Soviet period, as well as the comparison of their main macroeconomic indicators, shows that in the period from the 1990s to the early 2000s, the problems of the creation of an optimal market structure, monopolization, social inequality, uneven territorial development, as well as the formation of a shadow economy, significant by its specific weight, were pressing for all three states. These factors significantly affected the perspectives for economic development of these states. Nevertheless, in recent years, the consequences of the mentioned negative factors have been considerably precluded, largely due to the eduction of new opportunities for economic development, increase of the volume of foreign investments and improvement of transport and energy infrastructures. Withal, especially since the second half of the 2000s, the states of the region have began to more actively expand their trade and economic relations with European countries, China, India and Iran, thereby trying to diversify their dependence on foreign markets as much as possible. The analysis of the perspectives for further economic development of the South Caucasian states from the viewpoint of the significant processes occurring in the region in recent years makes it possible to conclude that non-regional states consider the South Caucasus as the most important hub for cargo transportation and transit of energy resources. The attention to our region from such centers of power as the USA, EU, Russia, Iran, Turkey, China and India, has significantly increased, and all three states of the region have become the arena for their geopolitical and geoeconomic competitive activity. These centers of power seek to deepen both economic and political relations with Armenia, Georgia and Azerbaijan, having the objective to maximally use the transit potential of the region, this creating favorable conditions for the economic development of the states of the region and the region itself as a whole. In addition to that, each of these states faces the problem of skillfully using the economic situation shaped in the region and around it for the benefit of its economy.

ІНВЕСТИЦІЙНА СКЛАДОВА РОЗВИТКУ ТРАНСПОРТНОЇ СИСТЕМИ УКРАЇНИ

The purpose of the article is to analyze investments in the transport sector of Ukraine as a component of the development of the transport system. The article examines the place and role of the transport system of Ukraine in economic development. The Ukrainian transport sector provides territorial interconnections, is a connecting link between production and consumption. The development of programs for the development of the transport system requires a detailed assessment of its technical condition, compliance of the number and structure of objects with the real needs of business development and transit opportunities. It is shown that the main problem of maintaining a competitive transport system in good condition and development is the insufficient amount of funding, as well as inefficient investments of allocated resources. All this actualizes the issue of organizing investment support for the development of the transport industry and creating conditions for the implementation of priority investment projects and programs. Stimulation of investment activity in the transport sector is impossible without effective state regulation, therefore a comprehensive preliminary analysis of the technical and economic justification of projects and relevant business plans is required, updating of standards and rules for investment activities in the transport sector, establishment of a strict procedure for benefits and preferences, improvement of the practice of conducting tenders. Such measures should contribute to the creation of a more favorable investment climate in the country for attracting foreign investment in the domestic transport complex. One of the sources of funding for the restoration and reconstruction of the transport system of Ukraine – the investment component has been investigated. The conducted analysis showed that the volumes of capital investments in the transport system of Ukraine do not have stable positive dynamics, and their share in the total volume of capital investments is about eight percent. By types of transport, the largest share falls on ground and pipeline transport – more than fifty percent. It was determined that in the conditions of European integration, the reorganization of international transport corridors was carried out, therefore, water transport needs modernization and development based on the implementation of investment projects.

ПРЯМІ ІНОЗЕМНІ ІНВЕСТИЦІЇ: СТАН ТА ПЕРСПЕКТИВИ РОЗВИТКУ

The article is devoted to an analysis of the state and prospects for attracting foreign direct investment into the Ukrainian economy under martial law. The essence of the concept of “foreign direct investment” explored and its characteristic features are determined. It established that in the legislative acts of Ukraine only the concept of “foreign investments” presented for consideration and their content described. The role of transnational companies at the present stage of attracting foreign investment to Ukraine outlined. A list of transnational companies operating in the domestic investment market provided. An analysis of the dynamics of foreign direct investment in Ukraine carried out based on the principle of direction. The unstable nature of cash flows revealed. It established that a significant part of foreign direct investment in the overall structure made up of those directed to Ukraine. However with the advent of war in 2022, the already not very high investment attractiveness of the Ukrainian economy decreased. This significantly complicated the economic situation in the country and significantly decreased its investment activity. An assessment was made of the scale of capital reinvestment in Ukraine through “round tripping” operations. Their unstable dynamics established and it revealed that the most significant volumes of foreign direct investment were directed to industries and institutions engaged in wholesale and retail trade. The main investor countries for round tripping operations presented, of which a significant part belongs to Cyprus and the Netherlands. Because of the study, factors identified that negatively affected the processes of foreign investment in Ukraine and related to the war and business rules. Recommendations developed that take into account general economic and institutional conditions for activating the foreign investment market in Ukraine. Separate effective mechanisms for their implementation presented. The need to formulate a state investment policy to further attract foreign investment into the Ukrainian economy for recovery after the war noted. This is due to the priority of restoring the domestic industrial and agricultural complex, increasing the country’s export potential by implementing strategies to overcome the economy’s dependence on imported energy resources, etc.

АКТИВІЗАЦІЯ РОЗВИТКУ УСВІДОМЛЕНОГО СПОЖИВАННЯ В КОНТЕКСТІ СОЦІАЛЬНО-ЕТИЧНОГО МАРКЕТИНГУ

The study is devoted to the analysis of the essence of conscious consumption, its level in Ukraine and the world, and the analysis of the determinants of the development of the concept of conscious fashion in the context of social and ethical marketing. In the economic complex of developed countries, on the one hand, the fashion industry occupies a significant share in consumer spending, employment, and the volume of direct investments, and on the other hand, it is in second place in terms of harmful effects and environmental pollution. The environmental and social aspects of the fashion industry force businesses to follow the trends of conscious fashion, the purpose of which is to be responsible for the environment and make thoughtful purchases. Authors describe the basic principles of the concept of responsible consumption and production. A worthy alternative to mindless and uncontrolled consumption is customization, which is developing as the opposite of globalization and depersonalization of individuality. In addition, sites that offer a mutual exchange of used clothing are growing in popularity around the world. Sustainable fashion is a concept that implies a more holistic approach to fashion, a slower pace of production and consumption. The article defines the conceptual foundations of the modern phenomenon of sustainable fashion and characterized the main segments of the sustainable fashion market. Conscious fashion in Ukraine is still far from developed, due to the lack of certified production recognized by international standards, but in Ukraine there is a large practice of realizing the concept of conscious consumption through platforms for the sale and exchange of old things. Authors emphasize that an important direction of conscious consumption is the wider implementation of alternative sources of raw materials, and the strengthening of the concept of conscious consumption is greatly facilitated by social media, which are becoming indispensable marketing tools for sharing brand stories, creating communities and selling/buying fashion goods. An important aspect of social and ethical marketing in the fashion industry is that the concept of sustainable fashion is supported by government initiatives around the world that are certainly changing the landscape of the industry. It is important that social and ethical marketing becomes the norm of activity on the market, and not just an innovative direction. Modern marketing communications should be aimed not only at maximizing profits, but also at promoting the education of a responsible consumerism. In turn, an educated and conscious consumer will be an active player of the market and will stimulate producers to social and ethical responsibility.

ЭКСПОРТНЫЙ ПОТЕНЦИАЛ И ЕГО ОТРАСЛЕВЫЕ ПРИОРИТЕТЫ ДЛЯ ФОРМИРОВАНИЯ УСТОЙЧИВОЙ ЭКОНОМИКИ ТАДЖИКИСТАНА

The article examines the concept of industry potential in the interpretation of various scientists, analyzes the export potential of Tajikistan. The export diversification index of Tajikistan is compared with similar indices of post-Soviet countries. The analysis revealed that in the context of industries on the world market, the products of such sectors of the Tajik economy as metallurgy, light industry, energy engineering, agro-industrial complex are most in demand and competitive. A direct relationship between the volume of foreign direct investment, the volume of exports and the economic growth of the country has been revealed.

СОЦІАЛЬНА ІНКЛЮЗІЯ ЯК ПРІОРИТЕТ ПОДАЛЬШОГО РОЗВИТКУ АГРАРНОГО СЕКТОРУ І СІЛЬСЬКИХ ТЕРИТОРІЙ

Agriculture is a priority sector of the development of the domestic economy, determines its strategic vector of development and the possibility of ensuring food and national security. However, in order to solve these important tasks, it is necessary to overcome inclusive social gaps, which under modern conditions take place in the agrarian sector and rural areas of Ukraine. The article examines the content of social inclusion, the main forms of its manifestation and consequences for the development of the agrarian economy. According to the results of analytical studies, it was found that the agricultural sector of Ukraine's economy is characterized by significant socio-economic problems, which are manifested as a reduction in the reproduction of the rural population, a gap in the income level of the rural and urban population, problems of employment and unemployment, social guarantees and living conditions, potential opportunities and prospects for the development of the rural population. The importance of overcoming inclusive social gaps is recognized by world practice and outlined as one of the strategic priorities of European agricultural policy and at the level of international organizations and associations. In order to solve these problems within national practice, the article made an attempt to justify the system of strategic priorities of socio-economic development of the agricultural sector and rural areas. The areas of harmonization of inclusive development and possible mechanisms of their provision are outlined. The volume of inclusive social investment in Ukraine is analyzed. The impact of international organizations and partnerships in helping to solve the tasks of inclusive social development of the village was revealed. The analysis of the strategic priorities and realities of the development of the domestic agrarian sphere showed that social inclusion is an important direction of transformations for the national economy, and the following can be its priority tools for their implementation: innovations, inclusive value chains, risk management, sustainable use of resources, activation of social integration in the countryside, implementation of inclusive models of poverty reduction and ensuring access to fair receipt and distribution of income for residents of rural areas.

Экспансия Китая в Узбекистан: экономический аспект

The author believes that the analysis of China’s economic expansion into Uzbekistan is important from the point of view of Russia’s economic interests in this country, because China is undoubtedly its main competitor in the Uzbek market. The paper attempts to discover the main factual parameters and statistical ones in particular that characterize the economic expansion of the PRC into Uzbekistan. Its main goals and directions are determined, an analysis of China’s positions in the economy of Uzbekistan and, above all, in the foreign economic sphere is given. Based on statistical data, it was observed that trade operations of Uzbekistan with China in the 21st century had a constantly growing negative balance, which adversely affected the economy of Uzbekistan. Investment cooperation between the countries has evolved more favourably, but the volume of direct Chinese investment in Uzbekistan is still quite modest. Based on the monitoring of Chinese companies’ participation in the economy of Uzbekistan, it was found that Chinese investors are most interested in investments in oil and gas, chemical, textile, electricity, cement, coal industries, as well as in agriculture and water management. It has been established that the investment climate in Uzbekistan for companies from China is quite favourable, and they successfully handle competition from Russia, Turkey, Germany, South Korea and Saudi Arabia.

The border as a barrier and an incentive for the structural economic transformation of the Kaliningrad exclave

This paper aims to study how geopolitical shifts affect regional economies and their structures. Border functions and regimes act as tools for the economy and society to adapt to the redistribution of political influence, movements of people, goods, capital and information between integration associations, individual countries and their cores. A changed environment may slow down the development of some industries (and even cause them to decline) and give a boost to others, with these two processes constituting economic restructuring. In the exclave of Kaliningrad, heavily dependent on international trade and transit trade with mainland Russia, geopolitical changes have naturally had an exceptionally strong effect. The relationship between border functions and economic restructuring was investigated over four periods. The study utilised data from Rosstat and the Federal Customs Service, departmental statistics and findings from expert interviews conducted by the authors. The extent and direction of changes are assessed by examining the ratios between major economic sectors, the structure of foreign trade relations, and the volume and sectoral distribution of investments. Four main ways are identified in which the sharp increase in the barrier nature of the borders between the Kaliningrad region and neighbouring countries since 2014 and especially February 2022 has influenced the region’s economy. The significance and effectiveness of the agro-industrial complex have risen, with an increased focus on domestic tourism, and the adoption of advanced public administration practices in collaboration with businesses. This includes implementing mechanisms such as Free Economic Zones and industrial parks, along with a shift towards proactive measures to adapt to the changing environment.

VENTURE FINANCING OF DEEP TECH STARTUPS

The article is devoted to researching the mechanisms of venture financing of deep tech (deep technologies) startups at each stage of the investment chain. Venture and private funds, limited partners, corporations, governments, and public institutions face the complexity of interacting with and understanding deep tech. Investments in the sector are growing, but deep tech startups often find it difficult to transition from grant funding to equity capital. Despite the increase in funding, businesses face the need for multiple rounds of grant funding to attract the attention of venture capital funds. The existing investment model limits deep tech enterprises aimed at solving significant global challenges. Problems include the difficulties of transition from the laboratory stage to commercialization, the uneven distribution of venture funding and the lack of state support for deep tech, which is a potentially important tool for solving the world's global problems. Deep tech holds significant potential for scientific discoveries and technological breakthroughs, but investing in this sector remains a challenge. Despite the increasing volume of venture investments, deep tech startups have faced a number of challenges that limit their development and affect the entire investment ecosystem. The problems of deep tech startups include the complicated transition from grant funding to venture capital and the uneven distribution of investments between different sectors and regions. This leads to the fact that many promising ideas and technologies are left out of attention and funding. Despite record levels of "dry powder" venture capital, securing funding for deep tech remains problematic. Investors should rethink their approaches, ensuring a more efficient allocation of capital to ensure the development of a wide range of deep tech. According to research, deep tech startups face rejection from general venture funds due to their high technical risks and long payback periods. In addition, limited partners and corporations may lack the skills and flexibility to successfully work with deep tech enterprises. The diversity of investments by sector and region, as well as uneven access to capital, indicates the need for a balanced and innovation-oriented resource allocation strategy. Governments and public institutions play a key role in creating favorable conditions for deep tech startups through grants, research support and infrastructure creation. It is necessary to create a favorable investment environment by enhancing collaboration between participants in the financial ecosystem and simplifying the process of attracting capital for deep tech startups. In general, investing in deep tech requires rethinking the investment strategy, in-depth understanding of the sector and creating conditions for the growth of deep tech startups as a key tool for solving modern global challenges.

СТРАНЫ ЮЖНОГО ТИХООКЕАНСКОГО РЕГИОНА ПОСЛЕ ГЛОБАЛЬНОЙ ПАНДЕМИИ: АКТУАЛЬНЫЕ ПРОБЛЕМЫ ВОССТАНОВЛЕНИЯ НАЦИОНАЛЬНЫХ ЭКОНОМИК

The article describes the specifics of the urgent problems of the recovery of the economies of the countries of the South Pacific region after the global coronavirus pandemic. On the basis of the sources, the specifics of the individual and general problems of the developing States of Oceania are reflected. On the basis of authoritative sources of the latest period of time, a forecast is given of the prospects for the recovery of subregions in the conditions of a specific geostrategic conjuncture of the world economy, waves of the global economic crisis, issues of assistance from external players to developing countries of the South Pacific region, both from Australia and New Zealand-developed countries of the region, and with the participation of the USA, China, Russia, France and England.. The peculiarities of regional local conflicts that determine the problems for economic recovery in the shortest possible time are taken into account: the Bougainville referendum of 2019 and the consequences of the war of the same name in Papua New Guinea 1988-1997. An explanation is given why the Governments of Australia and New Zealand cannot solve the full range of problems facing the developing States of Oceania. An objective volume of factors has been formed that will allow each state of the South Pacific region to recover within the framework of existing incomplete solutions. The reason why an independent center of the multipolar world has not been formed in Oceania, both on the basis of developed and among developing countries and, or their associations. The specifics of the issues of assistance by developed countries are shown, which rather harms than helps the poor states of Oceania, as proved by the crisis during the influence of COVID-19 in the region. A sub-regional division of developing states has been made, which allows the reader to visually determine on the basis of materials and text which regional parts of the area are being discussed and how they are related to each other. A pessimistic forecast is given regarding the rapid recovery of the national economies of the poor countries of the South Pacific region to the pre-crisis level of 2019. The analysis of the source base confidently indicates that Oceania needs inflows of new volume and quality of foreign investments that would allow a new innovative industrial and financial center to develop on the basis of the region, not only on the basis of the Australian Union and New Zealand, but also in developing countries, including the experience of the Singapore prosperity model. Conclusions are drawn on the speed and foreseeable prospects for the recovery of the economies of the South Pacific region with the key open question of the lack of an independent line of foreign policy of all Oceania countries, regardless of the level of development of each particular state. The Vedomosti thesis allows us to define the South Pacific region as an object of the interests of the great powers with a foreseeable perspective redistribution of spheres of influence in this regional space, taking into account all the above-described material.

A COMPREHENSIVE APPROACH TO ASSESSING THE LEVEL OF SOCIAL RESPONSIBILITY OF BUSINESS IN THE PUBLIC ADMINISTRATION SYSTEM

An analysis of methods for assessing the level of social responsibility of business was carried out. The methodical approach to assessing the level of social responsibility of business in the public administration system has been improved, which, unlike the current one, involves the use as a methodological basis of the distribution of the concepts of economic (fulfillment of tax, labor, environmental legislation, quality standards) and social (additional obligations of business, which taken voluntarily or under the influence of informal pressure from the authorities or society) of business responsibility and contains the calculation of quantitative indices of the volume of social investments (socially directed expenditures by mandatory and voluntary payments) and qualitative indices of social significance (designed to assess the degree of complexity and completeness of social investments) . Key words: business, mandatory expenses, state, voluntary payments, indexes of social investment volumes, assessment methods, assessment of the level of social responsibility, public administration.

Analysis of the current state of investment attractions of Ukraine

The article is aimed at analyzing the investment climate of Ukraine and defining the existing problems of attracting foreign investment to the country’s economy. The article carries out a static analysis of the main macroeconomic indicators of Ukrainian investment climate. The approaches of domestic economic scientists to the definition of the concept of «investment climate» are considered. The main factors influencing the investment attractiveness of the State, region and economic entity are defined. The interdependence of the factors of influence of the macro- and micro-levels on the level of their investment attractiveness is specified. In particular, the level of investment attractiveness of enterprise depends to a certain extent on the investment attractiveness of the State and its regions. The authors analyze the dynamics of foreign direct investment in the Ukrainian economy for the period of 2002-2022, as well as carry out comparisons with the volume of foreign direct investment from the Ukrainian economy, and the main changes in their proportions. The countries of the European Union, which provide more foreign investment to Ukraine, are considered. It is concluded that the investment climate in the country has improved, but unfortunately there have been no significant changes. It is identified that the investment climate of the State remains unfavourable for the external investor. Taking into account a number of existent negative factors with regard to the investment attractiveness of the country, as well as its course towards European integration, it is necessary to implement efficient reforms, one of the priorities of which should be improving the investment attractiveness of the country.

МЕХАНІЗМ ЗАБЕЗПЕЧЕННЯ СТАЛОГО РОЗВИТКУ ПРОМИСЛОВИХ ПІДПРИЄМСТВ УКРАЇНИ

To enter the trajectory of sustainable development, Ukraine needs effective management mechanisms aimed at significantly increasing innovation activity, intellectualizing the main factors of production, as well as creating production and economic systems capable of ensuring GDP growth and a new quality of life of the population on an innovative basis. Scientific views of the problem of developing mechanisms for managing the sustainable development of enterprises in the real sector of the economy are quite fully represented in the scientific works of famous scientists. In addition to approaches to determining the elements of enterprise management mechanisms on an innovative basis, in the theory and practice of management, many approaches have been developed to ensure the sustainability of industrial enterprises as the basis for the competitiveness of the national economy. However, there are certain gaps in the coverage of issues related to the creation of a mechanism for ensuring the sustainable development of companies in an unstable geopolitical situation. Therefore, the issue of improving the mechanism for managing the sustainable development of enterprises regarding a holistic approach to their functioning in the national economy and ensuring a synergistic effect in solving strategic tasks of the real sector of the national economy is extremely relevant. The aim of the study is to improve the theoretical and methodological foundations of the concept of creating a mechanism for ensuring the sustainable development of industrial enterprises in Ukraine in an unstable geopolitical situation. Methods and tools for sustainable development management have been identified, allowing to identify the sources, nature and directions of change to ensure sustainability; the definition of the category "mechanism of sustainable development management" has been clarified; Ukraine now occupies an international place in terms of key economic indicators; an improved mechanism for manag- ing the sustainable development of industrial enterprises, which will contribute to an innovative increase in the level of competitiveness of the national economy and the quality of life of the population in accordance with global transformational trends. The main factors in the process of which there is an important aspect of sustainable development of Ukraine for the analysis and determination of the volume of investments, including the structure and dynamics of foreign investments, are identified and analyzed. Key threats to globalization that could hinder sustainable development have been identified. Based on the study, the main (strategic) stages of ensuring sustainable development of Ukraine are proposed.

Необхідність фінансування маркетингових послуг бізнес-структур в Україні

The article is aimed at studying the issues of assessing the state of development and determining the basic regularities of the necessity of financing the marketing services of business structures in Ukraine. When analyzing, systematizing and summarizing scientific works of many scholars, it was stated and proved that cooperation between marketing and finance is important for business growth. According to the results of the study, it is revealed and found that the terms «marketing services» and «marketing» in some regulatory documents are synonymous. The object of the study was economic entities specializing in the provision of marketing services and belonging to section M «Professional, scientific and technical activities» in accordance with the established requirements of the Classifier of Types of Economic Activity DK 009: 2010 regarding the maintenance of statistical information, section 73.2 «Advertising activities and market research», class 73.2 «Market research and public opinion revealing». Assessing the dynamics and structure of economic entities in the sphere of advertising activity and market research, as well as the number of employees involved and the relationship of the relevant indicators with the dynamics of GDP, it is concluded that not the numerical growth in the number of economic entities engaged in the sphere of marketing services leads to an improvement in macroeconomic indicators, but on the contrary – the improvement of welfare in the country stimulates the emergence of new economic entities that provide consumers with marketing services. Given the dynamics and structure of capital investments in advertising along with the market conjuncture research in 2012–2021, it is worth noting the renewed interest in market conjuncture research and public opinion revealing. It is exactly concerning this sector that there is an increase in additional activity, which has led to the emergence of large enterprises in the sphere of marketing research, which until 2021 were not observed in the industry at all. Regarding the level of financing of economic entities in the studied sector of the economy, it should be noted both the tendency to implement tax planning measures in the form of increasing use of such organizational form of business activity as individual entrepreneurs, and the urgent need for equity. Comparing the volume of investments in the sphere of advertising activities and market research with the volume of total capital used by it, the author came to the conclusion that investments are not the main source of financing this business, and a certain part of it remains in the «shadow». In view of the aforesaid and given the significant amount of involvement of employees in this sphere of activity in the form of registration of individual entrepreneurs, the country’s government should once again think about initiatives to reform the country’s tax system by eliminating the simplified business taxation system, as this may have negative consequences for the entire economy of the country. Instead, it is necessary to provide additional incentives for investing in the market research and public opinion revealing sector, as well as creating additional jobs in this sphere of activity.

Financial mechanism of public-private partnership: features and directions of improvement

In recent decades, projects in the field of infrastructure and public-private partnership (PPP) have become increasingly interesting for both the public sector and private investors. In Russia, the option of cooperation between the state and business started developing and spreading not so long ago (in the last 15-20 years). Despite the fact that until 2019, the PPP market in Russia showed a positive trend in various parameters and actively developed, there has been a slowdown in the growth rate of the number of PPP projects since 2020 (3,440 projects in 2020 against 4,285 projects in 2019), which is due to many factors, such as: an increase in the cost of construction materials, a general increase in prices, an increase in inflation, the COVID-19 pandemic, a reduced level of effective demand, an unstable geopolitical situation, etc. At the same time, the total volume of investments in PPP projects continues to grow. Rapid urbanization, changing environmental, social and economic priorities place increasing demands on the ability of governments to attract private finance and motivate companies to develop synergistically with the state. Improving public-private partnership and scaling it up among the corporate sector in Russia is one of the key areas of government activity in order to create better conditions for connecting people and places with opportunities. The purpose of the article is to study the theoretical and practical features of public-private partnership and its financial mechanism, as well as to identify promising areas for solving problems that hinder the effective implementation of projects within the framework of public-private partnership. The subject of the study is an aggregate of economic and organizational-legal relations that contribute to the formation and implementation of the financial mechanism of public-private partnership projects. The methodological basis was the conceptual provisions of the theory of public-private partnership, scientific methods and techniques of analysis. The scientific novelty of the work lies in the fact that the results of the study (in terms of identifying key problems that hinder the effective functioning of PPP projects and their financial mechanism) allowed us to formulate a set of recommendations for their solution.

Analyzing and evaluating the effects resulting from the application of the tax incentives policy at the macroeconomic level

Tax incentives have multiple policies, including tax exemption, accelerated depreciation, investment allowances (tax deduction, additional depreciation), tax discriminatory rates and other policies that are linked to tax rates. The tax exemption includes two types of exemptions, social exemptions and economic exemptions, which in turn are divided into two types, exemptions to prevent double taxation, and incentive exemptions that work to attract and provide investments and direct them towards the projects targeted in the economic plans. Specific exemptions for a certain number of years or are absolute exemptions. As for the policies of investment allowances, they are policies that result in either reducing the tax debt itself or reducing the taxable base, and the amount of the reduction is linked to a percentage of the volume of investments in investment projects. Objectives of the economic development plan.