УДК 338.24

DOI: https://doi.org/10.36887/2415-8453-2020-3-8

Ryzhykova Nataliia
Doctor of Economics, Associate Professor, Professor of Accounting and Auditing Department
Kharkiv Petro Vasylenko National Technical University of Agriculture
Birchenko Nataliia
PhD in Economics, Associate Professor, Associate Professor of Accounting and Auditing Department, Kharkiv Petro Vasylenko National Technical University of Agriculture
Vasyl Nevmerzhitskyi
Deputy Director of the Treasury and Financial Institutions Department of WEST FINANCE AND CREDIT BANK Joint-Stock Company

JEL classification: M12


Introduction. One of the main factors of the state economic development is investment. The determining conditions for their involvement are a favorable investment climate and stable legislation.

The purpose of the study is to analyze the main aspects of the legal bases of state regulation of investment activities.

Results. The article outlines the main features of investment in industry. They include their orientation on perspective tasks concerning growth of national economic indicators and formation of export potential; their high knowledge and innovation. For a systematic analysis of the institutional environment of investment activity in industry, legislation in this area is divided into groups in terms of areas, objects, areas of regulation. Today, the legal system of Ukraine includes a large number of laws and other regulations governing relations in the investment sphere. Deficiencies and imperfect provisions of some legislative acts were revealed. The imperfection of the institutional foundations of investment in Ukraine is indirectly evidenced by the ratings of the investment climate. Thus, the world investment market is characterized by competition for real investment, priority investment in reindustrialization and modernization. Investment in Ukrainian industry is in crisis, the causes of which are the imperfect institutional environment, deindustrialization of the economy, the predominance of consumer loans over investment.

Conclusions. The institutional environment of investment activity should ensure the revival of Ukrainian industry through the realization of natural and competitive advantages in important areas for the country. The basic law “On investment activities” should be improved to take into account the characteristics of real investment; introduction of the public approbation mechanism of investment projects in the industry; strengthening the connection of this law with the legislation on zoning of territories should be provided.

Problems of state regulation of innovation and investment activities, development of investment infrastructure remains relevant for further research.

Key words: investment activity, state regulation, legislative acts, investment climate.


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The article was received 05.07.2020