Modernization of the public investment system in the context of sustainable socio-economic development of Ukraine’s regions

Анотація

The article explores the modernization of public investment mechanisms in the context of balanced regional socio-economic development in Ukraine. The relevance of the study is conditioned by Ukraine’s urgent needs for post-war recovery, digital transformation of public governance, and the implementation of the 2024–2028 Roadmap for Public Investment Management Reform approved by the Government of Ukraine. The study outlines key systemic deficiencies that hinder effective public investment, such as the absence of a unified long-term investment strategy, weak coordination between central and local authorities, insufficient alignment with national development goals, institutional fragmentation, and lack of transparency. The paper emphasizes the necessity of strategic planning, digitalization, interinstitutional coordination, and the engagement of private and international financing to enhance investment efficiency and impact. Special attention is devoted to the role of simulation and analytical tools that can support evidence-based investment planning and project evaluation. The need to create a digital investment architecture - including platforms such as DREAM - is recognized as a key driver for improving transparency, monitoring, and control of public investment flows. The findings suggest that the modernization of Ukraine’s public investment system should rest on four strategic pillars: development of a long-term strategic planning framework, institutional reform and capacity building, full digitalization of investment procedures, and mobilization of private and international co-financing. Enhancing the transparency and effectiveness of public investments will not only accelerate regional recovery and modernization but also foster investor confidence and long-term development resilience. The study provides a conceptual basis for the formulation of targeted policy instruments aimed at strengthening the regional investment ecosystem and supporting Ukraine’s transition to a sustainable, inclusive, and innovation-driven development trajectory.

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