Analyzing the Investment Attractiveness of Ukraine

Abstract

The article is aimed at analyzing the investment climate of Ukraine and defining the existing problems of attracting foreign investment to the country’s economy. The article carries out a static analysis of the main macroeconomic indicators of Ukrainian investment climate. The approaches of domestic economic scientists to the definition of the concept of «investment climate» are considered. The main factors influencing the investment attractiveness of the State, region and economic entity are defined. The interdependence of the factors of influence of the macro- and micro-levels on the level of their investment attractiveness is specified. In particular, the level of investment attractiveness of enterprise depends to a certain extent on the investment attractiveness of the State and its regions. The authors analyze the dynamics of foreign direct investment in the Ukrainian economy for the period of 2002-2019, as well as carry out comparisons with the volume of foreign direct investment from the Ukrainian economy, and the main changes in their proportions. The countries of the European Union, which provide more foreign investment to Ukraine, are considered. A comparison of rating scores of Ukraine for the last six years according to five world rankings, characterizing the investment attractiveness of the State, is made. It is concluded that the investment climate in the country has improved, but unfortunately there have been no significant changes. It is identified that the investment climate of the State remains unfavorable for the external investor. Taking into account a number of existent negative factors with regard to the investment attractiveness of the country, as well as its course towards European integration,it is necessary to implement efficient reforms, one of the priorities of which should be improving the investment attractiveness of the country.