Koniev O. V., Lobanova V. V., Mykhailenko O. G.
Oles Honchar Dnipropetrovsk National University
CHARACTERISTICS OF THE INVESTMENT ATTRACTIVENESS OF UKRAINE
Today in Ukraine there are a number of unfavorable conditions for making investment, resulting from the financial crisis of the country. This affects the process of creating and shaping the investment climate, so we need to create a comprehensive approach to the problem of formation of the investment climate. The problem of this study is relevant to the conditions of the modern world. Investment climate is the system of legal, economic and social conditions of the country, which significantly affect the profitability of investment and the level of investment risk.
As for the evaluation of investment attractiveness of the region, it includes two main points:
1. Investment attractiveness of the region. At this stage we analyze the existing regulatory and legal framework, legal aspects and the political situation, the degree of protection to investors, the taxes etc.
2. Investment attractiveness of specific targets. At this stage, we analyze the economic situation of industries, enterprises and other economic entities.
In Ukraine there are the following groups of regions:
• The most attractive regions: Donetsk, Kharkiv, Dnipropetrovsk, Lviv, Odessa.
• Regions of high investment attractiveness: Zaporizhia, Crimea, Kiev, Vinnitsa.
• Regions of medium level of investment attractiveness: Zhytomyr, Chernihiv and Volyn, Zakarpatye, Nikolaev, Cherkassy, Ternopil, Kherson, Khmelnytsky.
• Regions of low investment attractiveness: Chernivtsi, Sumy, Kirovohrad, Ivano-Frankivsk, Luhansk.[2]
It would be more appropriate to give an analysis of the dynamics of foreign investment in 2007-2009 years. In general, the increase in total foreign capital in the economy, with its revaluation, losses, exchange rate differences for 2008 amounted to 6 billion 180.7 million dollars., which is 77.9% of the previous year. Total foreign direct investment to Ukraine, on January 1, 2009 amounted to 35 billion 723.4 million dollars., Which is 20.9% more than the volume of investments at the beginning of 2008 the rate per capita FDI of $ 775,3. Investments came from 124 countries. The top investing countries, which account for over 81% of total direct investments include: Cyprus – 7 billion 682.9 million., Germany – 6 billion 393.8 million., Netherlands – 3 billion 180.8 million dollars., Austria – 2 billion 445.6 million., United Kingdom – 2 billion 273.5 million., Russia – 1 billion 851.6 million, United States – 1 billion 471,5 million $, Virgin Islands and the British – 1 billion 316.1 million, Sweden – 1 billion 263 million dollars and France – 1 billion 226.1 million. Total loans received by enterprises of Ukraine from direct investors on January 1, 2009 amounted to 5 billion 234 million dollars [1; 3].
Accordingly, in order to attract foreign investment, Ukrainian government should:
· carry out the restructuring of the industrial sector;
· contribute to the modern technological level of industries based on new technologies;
· increase export capacity by investing real economy of Ukraine;
· overcome dependence on imports;
· establish production using local natural resources;
· promote the development of small and medium business.[3]
The list of references:
1. Особенности оценки инвестиционной привлекательности регионов [Web resource]. – Access mode: http://pk.napks.edu.ua/library/compilations_vak/nvfbi/2012/1/ p_56_59.pdf
2. State statistics service of Ukraine [Web resource]. – Access mode: http://www.ukrstat.gov.ua/operativ/operativ2011/ibd/bdo.html
3. Спільнота фондового ринку, official site [Web resource]. – Access mode: mode: http://investory.com.ua