STIMULATING INVESTMENT IN UKRAINE’S RECONSTRUCTION AND RECOVERY PROJECTS: CONCEPTUAL AND APPLIED FRAMEWORKS

Анотація

Purpose. The purpose of this article is to substantiate the main conceptual and applied principles of stimulating investment in reconstruction and recovery projects in Ukraine, taking into account current global challenges, the needs of the Ukrainian economy for recovery and modernisation, the principles of public-private partnership and sustainable development, and the requirements of transparency and protection of investors’ interests. Methodology. In the course of the study, a set of general scientific and special legal methods was applied. The author uses the systemic-structural and functional methods to analyse investment mechanisms. The logical and normative method allowed the author to identify areas for improvement of current legislation. The method of comparative analysis was used to compare the national experience with the practice of the EU countries and international organisations. Synthesis and generalisation were used to formulate proposals for the introduction of institutional mechanisms to increase investment attractiveness. Results. The article reveals the peculiarities of the current institutional environment for investment in Ukraine, identifies the main barriers, including distrust of the judicial system, lack of proper protection of investors’ rights, and poor coordination between donor assistance actors. Four groups of incentive mechanisms are systematised: fiscal, financial, regulatory and institutional. Particular attention is paid to the feasibility of introducing ESG criteria, digital registers, transparent monitoring of investment projects, and public diplomacy as a factor in shaping Ukraine’s image. The author substantiates the concept of a new generation investment agreement as a tool for strategic partnership with fixing the state’s obligations, performance indicators, protection mechanisms and transparent dispute resolution. Originality. For the first time, the author comprehensively proposes a model of an institutional ecosystem for investment promotion based on trust, publicity, regulatory coherence and international integration. The author introduces the concept of a new generation investment agreement as a flexible legal mechanism with the potential to adapt to risks and attract investors in difficult post-crisis conditions. The author proposes to differentiate investment agreements depending on the type of project, region, and form of state participation. Practical significance. The results of the study can be used in the process of formulating state policy in the field of investment, improving the regulatory framework for investor protection, developing international technical assistance projects, creating special economic zones, and implementing industrial parks. The proposed approaches are relevant for public authorities, business associations, foreign donors and investors operating in Ukraine.

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