ATTRACTING FOREIGN INVESTMENT AS A TOOL FOR ENSURING COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT OF THE COUNTRY
Karintseva O.
Sumy, Ukraine
Dehtyarova I.
Sumy, Ukraine
Kharchenko M.
Sumy, Ukraine
Dolgosheieva O.
Sumy, Ukraine
Kirilieva A.
Sumy, Ukraine
Pages: 199-211
Original language: Ukrainian
DOI: 10.21272/1817-9215.2020.3-22
The article reveals the essence of investing and its role for the development of the national economy. It is determined that the country's investment activity is a tool for strengthening the national economy which in turn will be an indicator of sustainable development and a high level of competitiveness among other leading countries. It is noted that the national economy is a single socio-economic system that has many components in different sectors of economic activity. In order for the development process to continue, it is necessary to resolve the contradictions that arise between the individual elements of the economic system. The paper identifies the most attractive types of economic activity for foreign investors and highlights the prerequisites for choosing an investment object.
Analyzing the foreign experience of the mechanism of attracting foreign investment, the emphasis is on the fact that there are several mechanisms of attracting foreign investment in the world. The main components of the complex mechanism for attracting foreign direct investment are institutional, legal, monetary, budgetary and tax, territorial and organizational mechanisms. All mechanisms of international cooperation for investing in highly efficient Ukrainian companies provide many current and future benefits. It is determined that the world experience of attracting foreign investments is ideal for Ukraine
In the light of the above facts, they drew attention to the fact that the issue of attracting foreign investment to Ukraine is very important and needs much attention. On Ukraine's path to sustainable development, attracting foreign direct investment is an important tool for increasing economic prosperity, thereby destroying and restoring national barriers. The article formulates the functions of attracting foreign investment at the micro and macro levels.
The study found that an effective mechanism for attracting foreign direct investment to the country as a whole is to be attractive to investors, which leads to real attraction of funds. Attracting foreign investment in the implementation of strategic goals of the state will improve and enhance the efficiency of certain parts of the national economy.
1. Abamu, B. E. Introducing Investment Promotion: A Marketing Approach to Attracting Foreign Direct Investment. International Journal of Marketing Studies, 11(4), 2019. P. 91. URL: https://doi.org/10.5539/ijms.v11n4p91
2. Eaton D. Technology and innovation for a green economy. Community Int. Environ. Law. 2013. Vol. 22, N 1. P. 62–67. URL: http://web.b.ebscohost.com/ehost/ detail/detail?sid=9e70cf71-36e6-4f89-9e58-94cf2aafee43%40sessionmgr111&
3. Hens L., Karintseva O., Kharchenko M., &Matsenko O. The States Structural Policy Innovations Influenced by the Ecological Transformations. Marketing and Management of Innovations, #3, P. 290-301. http://doi.org/10.21272/mmi.2018.3-26
4. J. A. Puppim de Oliveira Green economy and governance in cities: assessing good governance in key urban economic processes. J. Clean Prod. 2013. Vol. 58. P. 138– 152. URL: www.sciencedirect.com/science/article/ pii/S0959652613005040
5. John, E. F., Purity.U., N.-O., Ifeoma, A. R. Infrastructural Development as a Means of Attracting Foreign Direct Investment for Economic Development in Nigeria. International Journal of Trend in Scientific Research and Development, Volume-1(Issue-5), 2017. P. 1100–1115. URL: https://doi.org/10.31142/ijtsrd2396
6. Karintseva O. I., Dyachenko A. V., Tarasenko S. V., Kharchenko M. O. Prerequisites for the industrial policy formation of the country in conditions of transition to the sixth technology revolution [Internet source] // Economic Processes Management: International Scientific E-Journal. - 2018. - № 4. https://essuir.sumdu.edu.ua/handle/123456789/77646
7. Karintseva O., Hens, L., Shkarupa O., Kharchenko M. Integral assessment of national economy sustainable development // International Journal of Environmental Technology and Management, 2018 Vol.21No.5/6, pp.306 – 318. (SCOPUS) https://dx.doi.org/10.1504/IJETM.2018.100588
8. Karintseva O.I. Economic restructuring in Ukraine in view of destructive effect of enterprises on environment. International Journal of Ecological Economics & Statistics #38 (4), 2017. Р. 1-11
9. Karintseva O.I., Shkarupa O.V., Shkarupa I.S. Innovation potential of ecological modernization for green growth of economics: a case study. International Journal of Ecology and Development 31 (1), 2016. Р. 73-82 http://www.ceser.in/ceserp/index.php/ijed/article/view/4044 (SCOPUS)
10. Karintseva O.I. Scientific and methodological approach to the evaluation of the potential of types of economic activities // Економіка і регіон. 2018. № 1 (68). С. 110-117. http://journals.nupp.edu.ua/eir/article/view/1022/855
11. Karintseva O.I. Theoretical base of Ukrainian economic structure // Механізм регулювання економіки. 2017. № 4. С. 183-191. https://essuir.sumdu.edu.ua/handle/123456789/68721
12. Kharchenko M., Kovalov Y., Solovyova M. Management of investment attractiveness of the enterprise // STABICONsystems – 2018: Матеріали Міжнародної науково-практичної конференції (26 – 28 квітня 2018 р., м. Суми). Ст. 115-117
13. Kubatko O.V. Tolok T. S.,Edafejimue H. O. Almashaqbeh Ismail Y. A., Investments in Renewable Energy for Smart Grid Technology Development. Механізмрегулюванняекономіки. – 2019. - № 2. – С. 97 -105http://mer.fem.sumdu.edu.ua/index.php?cmd=view_article&article_id=562&issue_id=41
14. Li Rui, Sineviciene L., Melnyk L., Kubatko O., Karintseva O., Lyulyov O. Economic and environmental convergence of transformation economy: The case of China // Problems and Perspectives in Management Volume 17 2019, Issue #3, pp. 233-241 http://dx.doi.org/10.21511/ppm.17(3).2019.19
15. Marcel, D. T. Am. Impact of the Foreign Direct Investment on Economic growth on the Re-public of Benin. Financial Markets, Institutions and Risks, 2019, 3(2), P. 69-78. URL: http://doi.org/10.21272/fmir.3(2).69-78
16. Masron, T. A., Naseem, N. A. M., Wahab, E. A. A. Institutional quality in attracting foreign direct investment to small countries. Malaysian Journal of Economic Studies, 55(2), 2018. P. 267–284. URL: https://doi.org/10.22452/MJES.vol55no2.7
17. Melnyk L., Dehtyarova I., Kubatko O., Karintseva O., Derykolenko A. (Disruptive technologies for the transition of digital economies towards sustainability. Economic Annals-XXI, 2019, 179(9-10), 22-30. doi: https://doi.org/10.21003/ea.V179-02
18. Melnyk L., Dehtyarova I., Kubatko O., Kharchenko M. Economic and Social Challenges of Disruptive Technologies in Conditions of Industries 4.0 and 5.0: the EU Experience [Текст] // Механізм регулювання економіки. - 2019. - №4. - С. 32-42.
19. Shkarupa O.V., Karintseva O.I., Zhukova T.A. Ecological modernization of the transport system in Sumy for green growth of economics // International Journal of Ecology and Development Volume 32, Issue 3, 2017, Pages 75-85.
20. Shkarupa O.V., Kharchenko M.O. Integrated assessment of environmental costs of national economy: A case study // International Journal of Ecological Economics and StatisticsVolume 38, Issue 3, 2017, Pages 43-50. http://ceser.in/ceserp/index.php/ijees/article/view/4965
21. Shkarupa O., Karintseva A., Kharchenko M. Economic Restructuring of Ukraine National Economy on the Base of EU Experience // Reducing Inequalities Towards Sustainable Development Goals: Multilevel Approach / Editedby Medani P. Bhandari and Shvindina Hanna. River Publishers, 2019. 298 p. P. 161-184. https://essuir.sumdu.edu.ua/handle/123456789/78918
22. Alyev M., Burkynskyy, B. Halushkyna T. «Zelenaya» ékonomyka: predposylky y perspektyvy razvytyya v Ukrayne : ynform.-analyt. obzor. Prohramma OON po okruzhayushchey srede (YUNEP), Yn-t problem rynka y ékon.-ékoloh. yssled. NAN Ukrayny. Odessa : Feniks, 2012. 15 p.
23. Bolduyev M.V. Pryame inozemne investuvannya i zabezpechennya zdorovoho konkurentnoho seredovyshcha v umovakh svitovoho protsesu hlobalizatsiyi. Investytsiyi: praktyka ta dosvid. 2007. №8. P. 14-19.
24. Bondarchuk I.V.Osoblyvosti investytsiynoyi stratehiyi nerezydentiv v Ukrayini. Investytsiyi: praktyka ta dosvid. 2006. №4. P. 26-30.
25. Ekonomika pidpryyemstva : pidruchnyk / za zah. red. d.e.n.,prof. L. H. Melʹnyka. - Sumy : Universytet·sʹka knyha, 2012. - 864 s.
26. Ekonomika enerhetyky : pidruchnyk / za red. L. H. Melʹnyka, I. M. Sotnyk. – Sumy: Universytet·sʹka knyha, 2015. – 378 s. (https://essuir.sumdu.edu.ua/handle/123456789/45315)
27. Ekonomichna sutnistʹ investytsiy ta investytsiynoyi diyalʹnosti pidpryyemstv. URL: http://buklib.net/books/35261/.
28. Ivanov S.V. Metodolohichni pidkhody do vyznachennya sutnosti investytsiynoho potentsialu. Ekonomika: problemy teoriyi ta praktyky: Zb. nauk. pratsʹ. Dnipropetrovsʹk: DNU, 2004. Vypusk 95. P. 98 – 104.
29. Karintseva O.I. Naukovo-metodychnyy pidkhid do otsinyuvannya ekolohichnoho ryzyku riznykh vydiv ekonomichnoyi diyalʹnosti // Marketynh i menedzhment innovatsiy. 2017. № 3. S. 378–388. (Web of Scince) http://doi.org/10.21272/mmi.2017.3-35
30. Karintseva O.I. Optymalʹna struktura natsionalʹnoyi ekonomiky, yak zaporuka stiykoho rozvytku derzhavy // Problemy ekonomiky. 2018. № 1 (35). S. 62-68. https://www.problecon.com/export_pdf/problems-of-economy-2018-1_0-pages-62_68.pdf
31. Karintseva O.I. Restrukturyzatsiya natsionalʹnoyi ekonomiky Ukrayiny v umovakh staloho rozvytku: Monohrafiya. Sumy: Universytet·sʹka knyha, 2018. 349 s. http://lib.sumdu.edu.ua/library/DocumentDescription?docid=SuSDU.BibRecord.722817
32. Karintseva O.I. Struktura natsionalʹnoyi ekonomiky v konteksti kontseptsiyi staloho rozvytku [Elektronnyy resurs] // Ekonomika: realiyi chasu. 2018. № 1 (35). S. 71-78. URL: https://economics.opu.ua/files/archive /2018/No1/71.pdf
33. Karintseva O.I., Kubatko O.V., Lavrynenko A.S. Investytsiyne zabezpechennya pidpryyemstv silʹsʹkoho hospodarstva v umovakh ekonomichnykh ta ekolohichnykh fluktuatsiy. Mekhanizm rehulyuvannya ekonomiky. – 2013. – № 1. – S. 143–149 http://mer.fem.sumdu.edu.ua/content/acticles/issue_16/OLEKSANDRA_V_KARINTSEVA_OLEKSANDR_V_KUBATKO_ALINA_S_LAVRYNENKO Investment_Fostering_in_Agriculture_Considering_Economic_In.pdf
34. Karintseva O.I., Kharchenko M.O., Kalʹchenko S.O. Efektyvnistʹ vykorystannya lizynhu v suchasnykh umovakh. Mekhanizm rehulyuvannya ekonomiky, №3. 2016. S. 97-106 http://mer.fem.sumdu.edu.ua/content/acticles/issue_30/OLEKSANDRA_I_KARINTSEVA_MYKOLA_O_KHARCHENKO_SVITLANA_O_KALCHENKOEfficiency_of_Leasing_in_Modern_Conditions.pdf
35. Korniychuk S.K. Investolohiya. Kyyiv: Atika, 2004. 206 p.
36. Markevych K., Sidenko V. «Zeleni» investytsiyi u stalomu rozvytku: svitovyy dosvid ta ukrayinsʹkyy kontekst. Tsentr Razumkova. Kyyiv 2019. Vydavnytstvo «Zapovit», P. 316
37. Matskiv V. V. Problemni aspekty zaluchennya inozemnykh investytsiy v ekonomiku Ukrayiny: vyklyky sʹohodennya. The Actual Problems of Regional Economy Development, 1(13), 2017. P. 135–139. URL: https://doi.org/10.15330/apred.1.13.135-139
38. Melʹnyk L.H. “Zelena” enerhetyka yak providna lanka “zelenoyi” ekonomiky: dosvid Yevropeysʹkoho Soyuzu / L.H. Melʹnyk, O.I. Karintseva, I.B. Dehtyarʹova // Enerhoefektyvnistʹ ta enerhozberezhennya: ekonomichnyy, tekhniko-tekhnolohichnyy ta ekolohichnyy aspekty: kolektyvna monohrafiya / za zah. red. P.M. Makarenka, O.V. Kalinichenka, V.I. Aranchiy. - Poltava: PP "Astraya", 2019. - S. 85-91. http://essuir.sumdu.edu.ua/handle/123456789/74057
39. Motyvatsiyni mekhanizmy dematerializatsiynykh ta enerho¬efektyvnykh zmin natsionalʹnoyi ekonomiky : monohrafiya / za zah. red. doktora ekon. nauk, prof. I. M. Sotnyk. – Sumy : Universytet·sʹka knyha, 2016. – 368 https://essuir.sumdu.edu.ua/handle/123456789/80197
40. Orshchansʹka M. I. Zaluchennya pryamykh inozemnykh investytsiy v infrastrukturu Ukrayiny na umovakh derzhavno-pryvatnoho partnerstva. Scientific Bulletin of UNFU, 29(9), 2019. P. 110–115. URL: https://doi.org/10.36930/40290919
41. Ofitsiynyy sayt derzhavnoyi sluzhby statystyky. URL: http://www.ukrstat.gov.ua/
42. Pidpryyemnytstvo, torhivlya ta birzhova diyalʹnistʹ : pidruchnyk / za zah. red. d.e.n., prof. I. M. Sotnyk, d.e.n., prof. L. M. Taranyuka. – Sumy : VTD «Universytet·sʹka knyha», 2018. – 572 s. https://essuir.sumdu.edu.ua/handle/123456789/80114
43. Proryvni tekhnolohiyi v ekonomitsi i biznesi (dosvid YES ta praktyka Ukrayiny u svitli III, IV i V promyslovykh revolyutsiy) [Elektronnyy resurs] : navch. posib. / L. H. Melʹnyk, B. L. Kovalʹov, YU. M. Zavdovʺyeva ta in.; za red. L. H. Melʹnyka ta B. L. Kovalʹova. – Sumy : SumDU, 2020. – 180s. https://essuir.sumdu.edu.ua/handle/123456789/79621
44. Pryami inozemni investytsiyi (PII) v Ukrayinu 2020. URL:https://index.minfin.com.ua/economy/fdi/
45. Ramanova, YU. S., Herasymchuk, V. H. Mekhanizm pidvyshchennya efektyvnosti zaluchennya inozemnykh investytsiy v ekonomiku Ukrayiny. Ekonomichnyy Visnyk Natsionalʹnoho Tekhnichnoho Universytetu Ukrayiny «Kyyivsʹkyy Politekhnichnyy Instytut», 0(14). 2017. URL: https://doi.org/10.20535/2307-5651.14.2017.108723
46. Statystychna baza danykh po ekonomitsi CEIC Data. 2020. URL:https://www.ceicdata.com/en/indicator/ukraine/foreign-direct-investment.
47. Kharchenko M. O. Peredumovy formuvannya innovatsiynoyi ekonomiky [Tekst] / M. O. Kharchenko, V.V. Havrylova // Ekonomichni problemy staloho rozvytku: materialy Vseukrayinsʹkoyi naukovo-tekhnichnoyi konferentsiyi studentiv, aspirantiv i molodykh, prysvyachenoyi 80-richchyu vid dnya narodzhennya profesora Oleha Balatsʹkoho, m. Sumy, 21-25 kvitnya 2017 r. / za zah. red.: T.A. Vasylʹyevoyi, H.O. Shvindinoyi. – Sumy: SumDU, 2017. – S. 73-75. http://essuir.sumdu.edu.ua/handle/123456789/64313
48. Kharchenko M. O. Upravlinnya vytratamy yak sposib optymizatsiyi vyrobnytstva [Tekst] / M. O. Kharchenko, O.YU. Semenko // Ekonomichni problemy staloho rozvytku: materialy Vseukrayinsʹkoyi naukovo-tekhnichnoyi konferentsiyi studentiv, aspirantiv i molodykh, prysvyachenoyi 80-richchyu vid dnya narodzhennya profesora Oleha Balatsʹkoho, m. Sumy, 21-25 kvitnya 2017 r. / za zah. red.: T.A. Vasylʹyevoyi, H.O. Shvindinoyi. – Sumy: SumDU, 2017. – S. 75-76. http://essuir.sumdu.edu.ua/handle/123456789/6430
49. Kharchenko M.O. Efektyvnistʹ vykorystannya lizynhu v suchasnykh umovakh [Tekst] / O.I. Karintseva, M.O. Kharchenko, S.O. Kalʹchenko // Mekhanizm rehulyuvannya ekonomiky. - 2016. - № 3. - S. 97-106. http://essuir.sumdu.edu.ua/handle/123456789/4959 50
50. Kharchenko M.O. Upravlinnya vytratamy u systemi stratehiy "kontrolyu" ta "ryzyku" sub'yekta hospodaryuvannya [Tekst] / O.I. Karintseva, M.O. Kharchenko, S.V. Tarasenko // Mekhanizm rehulyuvannya ekonomiky. – 2016. – № 4. – S. 1-12. http://essuir.sumdu.edu.ua/handle/123456789/66359
51. Kharchenko M.O., Karintseva O.I., Kalʹchenko S.O. Naukovo-metodychni zasady vykorystannya lizynhu yak sposobu formuvannya kapitalu v pidpryyemnytstvi // Ekonomichni problemy staloho rozvytku [Tekst]: materialy Vseukrayinsʹkoyi naukovo-praktychnoyi konferentsiyi studentiv, aspirantiv i molodykh uchenykh "Ekonomichni problemy staloho rozvytku", prysvyachenoyi pam'yati profesora Oleha Balatsʹkoho (m. Sumy, 23–27 kvitnya 2018 r.) / za zah. red. T.A. Vasylʹyevoyi, H.O. Shvindinoyi. - Sumy: SumDU, 2018 – St. 29-32 http://essuir.sumdu.edu.ua/handle/123456789/70420
52. Kharchenko M.O., Karintseva O.I., Panchenko A.A. Teoretychni pidkhody do vyznachennya ponyattya “struktura natsionalʹnoyi ekonomiky” // Visnyk Sumsʹkoho derzhavnoho universytetu. Seriya Ekonomika. 2017. № 3. S. 146--154. https://visnyk.fem.sumdu.edu.ua/media/attachments/2020/03/04/__3_2017.pdf
53. Kharchenko M.O., Karintseva O.I., Tarasenko S.V. Ekonomichna osnova vektoriv dematerializatsiyi ta enerhoefektyvnosti v protsesakh rozvytku ekonomiky // Motyvatsiyni mekhanizmy dematerializatsiynykh ta enerhoefektyvnykh zmin natsionalʹnoyi ekonomiky: monohrafiya; za zah. red. Doktora ekon.nauk, prof. I. M.Sotnyk. Sumy: Universytet·sʹka knyha, 2016. S. 33-38 https://essuir.sumdu.edu.ua/handle/123456789/80197
54. Kharchenko M.O., Karintseva O.I., Tarasenko S.V., Dyachenko A.V. Promyslova polityka yak faktor u systemi upravlinnya ekonomichnoyu bezpekoyu rehionu z pozytsiyi formuvannya ekolohichnykh barʺyeriv // Upravlinnya innovatsiynoyu skladovoyu ekonomichnoyi bezpeky : monohrafiya u 4-kh tomakh / za red. d.e.n., profesora Prokopenko O.V. (hol. red.), k.e.n., dotsenta Shkoly V.YU., k.e.n. Shcherbachenko V.O. Sumy: TOV «Trytoriya», 2017. T. II. S. 229-240 http://essuir.sumdu.edu.ua/handle/123456789/66707
55. Kharchenko M.O., Ponomarʹova H.S. Formuvannya tsiny v umovakh ryzyku ta nevyznachenosti// Ekonomichni problemy staloho rozvytku: materialy Mizhnarodnoyi naukovo-praktychnoyi konferentsiyi studentiv ta molodykh vchenykh imeni profesora Balatsʹkoho O. F. "Ekonomichni problemy staloho rozvytku" / za zah. red.: T.A. Vasylʹyevoyi, O.V. Shkarupy – Sumy: Sumsʹkyy derzhavnyy universytet, 2019. – S.187-188 http://essuir.sumdu.edu.ua/handle/123456789/75222
56. Kharchenko M.O., Tarasenko S.V., Dyachenko A.V., Yurko R.YU. Osoblyvosti rozvytku rynkiv v 21 storichchi: tendentsiyi svitu ta Ukrayiny // Visnyk Sumsʹkoho derzhavnoho universytetu. Seriya Ekonomika. 2017. № 4. S. 115-120. http://essuir.sumdu.edu.ua/handle/123456789/68375 10.21272/ 1817-9215.2017.4-19
57. Khomutenko L. I., Kirilʺyeva A. V. Pryntsypy formuvannya «zelenoho» investuvannya krayiny, rolʹ ta znachennya dlya konkurentospromozhnosti. Visnyk Sumsʹkoho derzhavnoho universytetu. Seriya Ekonomika, № 2, 2020.
58. Chunytsʹka, I. I., Makarenko, O. YA. Inozemni investytsiyi v ekonomiku Ukrayiny: suchasnyy stan ta shlyakhy pokrashchennya investytsiynoho klimatu. Zbirnyk Naukovykh Pratsʹ Universytetu Derzhavnoyi Fiskalʹnoyi Sluzhby Ukrayiny, (1), 2019. P. 246–262. URL: https://doi.org/10.33244/2617-5940.1.2019.246-262
59. Ekonomika i biznes: uchebnik / pod red. d.e.n., prof. L. G. Mel'nika, d.e.n., dots. A. I. Karintsevoy. - Sumy: Universitetskaya kniga, 2018. - 608 s. https://essuir.sumdu.edu.ua/handle/123456789/80201
60. Ekonomika razvitiya: uchebnoye posobiye / pod red. dr.-ra ekon. nauk, prof. L. G. Mel'nika, kand. ekon. nauk A. Vik. Kubatko. Sumy: «Universitetskaya kniga», 2017. 352 s. https://essuir.sumdu.edu.ua/bitstream-download/123456789/80184/1/%d0%adkonomyka_razvytyia.pdf