ENSURING ECONOMIC SECURITY OF UKRAINE'S MACHINE-BUILDING INDUSTRY

Анотація

The article is devoted to developing new scientific approaches to studying the features, challenges, and directions for ensuring economic security at machine-building enterprises in Ukraine. Particular emphasis has been placed on the increasing importance of mechanical engineering for the country’s wartime economic development and national security. A comparative assessment of the development of global and Ukrainian mechanical engineering has been conducted. The specific features of the mechanical engineering business development in the world and in Ukraine have been identified within changes in the business environment from the 1990s to 2030. The peculiarities and differences in ensuring the economic security of machine-building manufacturers worldwide and in Ukraine within the SPOD (Steady, Predictable, Ordinary, Definite), VUCA (Volatility, Uncertainty, Complexity, Ambiguity), and BANI (Brittle, Anxious, Nonlinear, Incomprehensible) business environments have been examined. It has been proven that from 2013 to 2022, Ukraine’s machine-building industry and its manufacturers were in a state of systemic crisis. It has been determined that to align with global mechanical engineering, ensure sustainable long-term growth and an adequate level of economic security, Ukraine’s mechanical engineering sector needs to: accelerate integration into the global business environment and the economic space of the European Union; take into account global trends in the development of mechanical engineering; intensify digital transformation processes; advocate for the creation of a favorable business climate for the industry in the country, including through regulatory frameworks and fiscal incentives; implement ESG criteria in business practices; reform labor relations focusing on employees’ professional and social development; create a business environment with zero tolerance for corruption; eliminate manifestations of segregation and discrimination within the industry, as well as cases of information asymmetry implementation. Prospects for further scientific research have been identified in the context of exploring ways to enhance the level of economic security at machine-building enterprises in Ukraine under conditions of economic challenges.

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