Effective investment activity regimes as instrument of counteracting downturn in private and foreign direct investment in Ukraine
The paper reviews legislation of Ukraine to identify potential terms for securing equal protection of rights, interests and assets of investment activity agents. There are principles for selection of investment proposals and projects to be supported by the government refined. Directions for promoting investment activity in the priority branches of economy are determined. The author establishes specific aspects of applying principles and forms of interaction between state partners and private partners in the field of investment activity in Ukraine. Ways of supporting Public Private Partnership by the government are identified. There is a review given of current legislative regulations that encourage the use of the available investment potential of regions with allowance for their specificity. Directions for promoting the socio-economic development of regions and recruitment of additional financial resources to the economy are identified. An efficiency analysis of reforms in the fields of startups, registration of property and taxation of business activity is performed. The author identifies some limitations of the existing business environment in Ukraine, namely: unfair competition, monopolization of economy, pressure of regulatory bodies, corruption, inadequate legal proceedings which are used as an instrument of pressure against investors. The paper refined some measures for promoting the development of depressive areas. Principles for the use of a special-purpose approach to addressing challenges of regional socio-economic development are established. A legal framework for focusing financial, material, technical and other resources on the priority development directions of the state, individual branches of economy as well as administrative and territorial units is determined. There are specific aspects of the legislative background in respect of promoting the creation and operation of industrial parks identified. A simplified regime of running business by investors in regions is ascertained. Prospects of future research into effective enforcement of adopted statutory instruments regulating investment activity are outlined.