THE MAIN REGULATORY AND LEGAL FRAMEWORK FOR THE INDICATIVE PLANNING IMPLEMENTATION TO REALIZE INVESTMENT PROJECTS
DOI:
https://doi.org/10.31470/2786-6246-2023-5-51-59Keywords:
indicative planning, investment, legal and regulatory framework, regional developmentAbstract
The research is devoted to studying the regulatory framework governing the implementation of indicative planning of investment projects. Indicative planning is a methodology for assessing the viability and feasibility of investment projects, which involves a detailed analysis of the project structure, objectives, research methods, and practical significance. The study examines the key components of the structure and outlines the importance of each of them. The topic’s relevance is that indicative planning is an important tool governments and businesses use for regional development.
The purpose of the study is to provide a comprehensive understanding of the regulatory environment underlying indicative planning. The research methods and findings discussed in this study aim to shed light on the different approaches used to implement indicative planning and the results of these methods in different contexts. They include analysis of the legal framework, critical literature review, induction, and deduction methods, which allowed us to find the legal basis for indicative plans. The study results reflect the list of regulatory documents governing the planning of the country’s development, regional and investment development, and also show the directions of improvement of regulatory support for indicative planning.
The article proves that the laws and regulations governing indicative planning in Ukraine create a comprehensive basis for the development and implementation of investment plans. The main regulatory framework for the implementation of indicative planning of investment projects usually includes laws and by-laws that regulate the development, implementation, monitoring and evaluation of investment plans. In Ukraine, for example, the legislative framework is mostly aimed at regional development and the development of the economy in general. The problem is that indicative planning, that is, target planning as such, is not carried out, and therefore investment projects may lack regulatory and legal support for successful implementation in Ukraine. Other laws and regulations that may regulate indicative planning include laws on investment activity, foreign investment, foreign economic activity and stimulation of investment activity in priority sectors of the economy. At the same time, the formation of a regulatory and legal framework for the investment development of regions, which is directly related to the implementation of specific projects, is extremely lacking.
References
Verkhovna Rada of Ukraine (2000). Law on State Forecasting and Development of Programs of Economic and Social Development of Ukraine, № 1602-III. zakon.rada.gov.ua. Retrieved from https://zakon.rada.gov.ua/laws/show/1602-14#Text [in Ukrainian].
Verkhovna Rada of Ukraine (2010). Law on Public-Private Partnership, № 2404-VI. zakon.rada.gov.ua. Retrieved from https://zakon.rada.gov.ua/laws/show/2404-17#Text [in Ukrainian].
Huk, O.V., Shenderivska, L.P., & Mokhonko, H.A. (2022). Investuvannia Innovatsiinoi Diialnosti: Pochatkovyi Posibnyk dlia Zdobuvachiv Stupenia Mahistra za Spetsialnistiu 073 Menedzhment [Investment in Innovative Activities: An Introductory Handbook for Master’s Degree Students in Management]. Kyiv: KPI im. Ihoria Sikorskoho, Vydavnytstvo «Politekhnika» [in Ukrainian].
Cabinet of Ministers of Ukraine (2020). Resolution on Approval of the State Strategy for Regional Development for 2021-2027, № 695. zakon.rada.gov.ua. Retrieved from https://zakon.rada.gov.ua/laws/show/695-2020-%D0%BF#Text [in Ukrainian].
Verkhovna Rada of Ukraine (2020). Law on State Support for Investment Projects with Significant Investments in Ukraine, № 1116-IX. zakon.rada.gov.ua. Retrieved from https://zakon.rada.gov.ua/laws/show/1116-20#Text [in Ukrainian].
Tymoshchuk, M.R. (2014). Indykatyvne Planuvannia yak Osnova Zbalansovanoho Sotsialno-Ekonomichnoho Rozvytku [Indicative Planning as the Basis for Balanced Socio-Economic Development]. Scientific Bulletin of National Forestry University of Ukraine, 24.5. Retrieved from https://nv.nltu.edu.ua/Archive/2014/24_5/50.pdf [in Ukrainian].
Kozlovskyi, S.V. (2010). Metodychni Osnovy Rozrobky Systemy Indykatyvnoho Planuvannia v Rehioni [Methodological Basis for the Development of an Indicative Planning System in the Region]. Regional Economics, 1. Retrieved from http://re.gov.ua/re201001/re201001_032_KozlovskyiSV.pdf [in Ukrainian].
Mordovtsev, O.S. (2014). Osnovy Formuvannia Indykatyvnoho Planu Administratyvnoho Raionu [Basics of Forming an Indicative Plan for the Administrative District]. Efficient Economy, 7. Retrieved from http://www.economy.nayka.com.ua/?op=1&z=3189 [in Ukrainian].
