IMPROVEMENT OF STATE INVESTMENT POLICY AS THE BASIS OF IMPLEMENTATION OF INNOVATIVE TECHNOLOGIES ON DOMESTIC ENTERPRISES


Keywords: competitiveness, foreign investment, innovation technology, “green“ economy, “green“ tariff, industrial solar power plants.

Abstract

Topicality. This article discloses vital aspects of improvement of state investment policy as the basis of implementation of innovative technologies on domestic enterprises. Each economic entity is obligated to clearly and accurately present its needs in financial, raw material, labour, intellectual resources, production facilities, sources of their obtaining. They must also be able to effectively use existing production and natural resources in the production process. They need to respond in a timely manner, rationally and quickly to the changes that take place in the business environment. It is important to minimize the risks to the environment and make products environmentally friendly. Before the initial assessment of the cost of resources, it is necessary to keep the existing positions and increase the overall level of competitiveness, which allows obtaining the necessary cooperation with state authorities, local authorities and state authorities. It shouldd be done for attraction a potential investor. Potential investor will be useful for modernization of the production complex and the development of the business entity as a whole.
Aim and tasks. The purpose of the article is to systematize the views of the domestic and foreign scientific society, to analyze the existing normative legal acts. This will reveal the main problems and give recommendations on improving the state investment policy in terms of establishing interaction between the state and economic entities of all forms of ownership as the basis for the introduction of innovative technologies.
Research results. Public authorities and local governments should develop a coordinated mechanism to stimulate domestic business to maximize the efficient use of natural resources in the production process. This should be done to stimulate the attraction of the necessary amount of investment resources within the framework of the implementation of the concept of a "green" economy. This can be manifested in the form of providing additional privileges for the purchase of innovative equipment that is not produced in the country, the attraction of foreign capital to the development of leading industrial enterprises.
It was revealed that one of the most important factors for increasing the efficiency of production and maximizing the probability of attracting investments is ensuring economic and rational use of material, labour, financial resources, production capacities; optimization of the resource consumption structure based on the introduction of new design and technological solutions that will increase the completeness of the use of production resources; reducing the cost of productive resources at all stages of production and consumption.

Conclusion. A coherent mechanism for stimulating domestic business developed by state authorities and local governments to implement the national concept of the "green" economy will not only optimize the cost of manufactured products, but also reduce the risks to the environment. Moreover, it will strengthen the level of economic security of the country and the region in particular. Industrial solar power plants can reduce their cost to meet their own in-house production needs by an average of 10%. This will reduce the payback period to 5 years, thus creating additional incentives for a foreign investor.

Author Biographies

S.M. MAKARENKO

PhD (Economics), Associate Professor
Kherson State University
27 Universitetska st., Kherson, 73000 Ukraine

N.M. OLIINYK

Ph.D (Technical), Assistant professor
Kherson National Technical University
Berislav Highway, 24, Kherson, Ukraine, 73008

S.A. RYBACHOK

PhD student
Kherson State University
27 Universitetska st., Kherson, 73000 Ukraine

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Published
2019-09-20