MECHANISMS OF STATE MANAGEMENT OF INVESTMENT POLICY IN CONSTRUCTION
DOI:
https://doi.org/10.31470/2786-6246-2024-7-133-142Keywords:
investment policy, construction, investment legislation, , investment insurance, budget transfers, arbitration courtsAbstract
The article analyzes the mechanisms used by the state to manage investment policy in construction. The relevance of the study is due to the need to attract investment in the construction industry, which is key to sustainable economic development.
The purpose of the article is to systematize and evaluate the existing mechanisms of public administration of investment policy in construction and to identify ways to further improve them. To achieve this goal, the study solved several tasks: the concept of "investment policy" is defined; the state of the construction industry in Ukraine and the problems that slow down its development are analyzed; the role of investment in solving these problems is outlined; the mechanisms of public administration of investment policy in construction are systematized and evaluated; and ways of their further improvement are proposed. The study used general scientific methods of cognition: induction and deduction, analysis and synthesis, association and analogy.
The study found that the government is actively implementing various mechanisms for managing investment policy in construction. These include the creation of investment legislation, structuring of funding sources, price regulation, the introduction of a system of standardization and certification in construction, budget transfers, subsidies and grants, and investment risk insurance. However, problems such as corruption, imperfect legislation, poor infrastructure, limited financial support for small and medium-sized businesses, unstable economic and tax policies, insufficient development of innovation and technology, lack of skilled labor, lack of guarantees for investment protection in times of war, insufficient demand for the products of the investment project, and lack of investor confidence in Ukraine’s ability to protect their investments remain, which hinders the effectiveness of these mechanisms. Therefore, it is necessary not only to carry out institutional reforms and revise the regulatory framework but also to ensure compliance with existing laws and regulations. In addition, measures such as the introduction of investment insurance, return on investment guarantees, and protection of intellectual property rights are crucial to strengthening investor confidence and reducing risks.
The practical significance of the study lies in the possibility of applying the results obtained to further improve the mechanisms of public administration of investment policy in construction, which will contribute to sustainable economic development and increase the country’s competitiveness.
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