STATE REGULATION OF INVESTMENT ACTIVITY IN CONSTRUCTION SECTOR OF UKRAINE


Keywords: investment, strategy, state program, construction sphere, public-private partnership

Abstract

Topicality. The volumes of investments into the Ukrainian economy remain low due to the unfavorable investment climate, which is created due to imperfect legislative framework, undeveloped stock market and financial and credit system, strong tax pressure, inefficient use of depreciation, significant level of shadowing, and also low level of transformation of population savings in investments, uneven distribution of investments, both among priority, strategically important branches, and between regions of Ukraine. This leads to the conclusion about the need to improve the state regulation of investment activity in the construction sector of Ukraine, taking into account the experience of developed countries.
Aim and tasks. The purpose of the article is to develop theoretical, methodological and practical applications, which should justify the implementation of state regulation of investment development of the construction industry on the basis of defining the general purpose in the form of activating sustainable innovation and investment development and strategic and tactical implementation measures with horizontal and vertical links types and taking into account the mutual influence of construction and other types of economic activity.
Research results. The unsatisfactory situation in the country's construction industry is the result of serious system failures in the strategy of its development. The most pressing problem remains the development of a strategy that will greatly contribute to the intensification of sustainable innovation and investment development of the construction complex through the implementation of the following main development goals: ensuring a sufficiently high rate of economic development of the construction complex through efficient investment activities; stimulating the introduction of innovations and information technologies; improvement of approaches to state regulation of investment and construction processes. Measures to implement these main objectives are to increase the financial stability and solvency of the enterprises of the construction complex in the process of investment activity; an increase in the volume of finished construction products by defrosting unfinished objects; technological reorganization with the predominant use of combined production; increase of energy and economic efficiency; diversification of sources of financing of the industry; intensification of investment and construction processes in housing construction; development of public-private partnership.
Conclusions. The proposed scientific principles of state regulation of investment activity in the Ukrainian construction industry make it possible to intensify investment processes in the construction sector and promote the development of a number of related industries and, as a consequence, strengthen the state economically.

Author Biographies

GORAN KOZINA

Ph.D., Prof.
Vice-rector for Finances and General Affairs
University North, Varaћdin, Croatia

K.L. FROLINA

Ph.D. (Economics)
docent
Odessa State Academy of Civil Engineering and Architecture
street Diedrichson, 4, Odesa, Ukraine, 65029

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Published
2018-06-20
How to Cite
KOZINA, G., & FROLINA, K. (2018). STATE REGULATION OF INVESTMENT ACTIVITY IN CONSTRUCTION SECTOR OF UKRAINE. Economic Innovations, 20(2(67), 37-47. https://doi.org/https://doi.org/10.31520/ei.2018.20.2(67).37-47