CONTENT AND FACTORS OF THE SYSTEM OF ATTRACTING FOREIGN INVESTORS TO UKRAINE

Abstract

Objective. The purpose of the article is to justify and formulate the definition of the concept of "system of attracting foreign investment," to argue proposals for the division of factors that affect this system into separate groups. Methods. The article is based on general scientific and special methods of cognition. In the course of the research, the methods of analysis and synthesis, principles of formal logic, methods of inductive and deductive analysis were used. Results. This article considers scientific and methodological vision of scientists for mechanisms, methods, factors, forms of attracting foreign investors into Ukraine, importance and necessity of foreign investments for efficient reconstruction and development of Ukrainian economy. The attention is drawn to investment potential of Ukraine in the conditions of war. Scientific novelty. On the basis of analyzing scientific approaches of Ukrainian economist researchers, it is suggested to define a concept “the system of attraction foreign investors” as an organized (well-ordered) collection of factors, which increase the likelihood of establishment long-term and mutually beneficial relations between the state, local self-government authorities, domestic business entities, population on the one hand and foreign investors on another hand. Taking into consideration instability of international relations, the following groups of factors influencing the system of attracting foreign investors are selected: political, military, financial and economic, legal, mental and national, information technology and natural resource. Under political factors it is suggested to consider political actions and events that may affect the investor's behavior; under military factors – guarantees of protection against air and artillery shelling, invasion of army, destruction of infrastructure, loss of the most productive and skilled labor force by investors as a result of military mobilization, insurance of losses of foreign investors incurred in connection with military actions; under financial and economic factors – stability and predictability of macro and microeconomic indicators and their dynamics; under legal factors – stability and certainty of the legislation development direction, fair enforcement, honest and impartial judicial and law enforcement systems; under mental and national factors – specificity of the mentality of the people of the state, which, in particular, characterizes the integrity of the entrusted work by individuals performance, their responsibility for the quality and timeliness of work performance, compliance with the agreements reached; under information technology factors –reliability of equipment, technologies, communication means channels, software use, which a foreign investor will use in the event of a decision to do business in Ukraine; under natural resource factors – availability of natural resources and ensuring investors to access them. Practical significance. The conceptual provisions of the study and the analysis can be used as a basis for developing recommendations for attracting foreign investment into Ukraine`s economy during the war and post-war periods.