The investment component of the development of the agrarian sector of the economy of Ukraine in the conditions of european integration: problems and prospects
DOI:
https://doi.org/10.34132/pard2023.21.09Keywords:
agrarian sector of the economy, agro-industrial complex, agriculture, state policy, state regulation, state support, investments, investment climate, European integration processes, investment attractiveness of the agrarian sector of the economyAbstract
The article examines the problems of investment support in the agricultural sector of Ukraine's economy in modern conditions and identifies promising directions for improving the investment climate. It has been established that in the process of creating a market economy in Ukraine and European integration processes, there is a need for complex searches for ways of development and determination of the role and place of the state in these economic transformations. The experience of developed democratic countries shows that there is no single solution to this problem, and the degree of state intervention in the economy of different countries varies. The directions of the transformation of the agrarian-industrial complex in Ukraine since independence have been determined. It has been proven that before the start of the full-scale war, the agricultural sector in Ukraine was one of the most profitable branches of the Ukrainian economy. It contributed to a significant contribution to the GDP and preservation of land resources in a satisfactory condition. A number of problems in the agrarian sector of Ukraine's economy, which inhibit its development, are highlighted: insufficient transparency in matters of land ownership; non-compliance with quality and safety standards established by international organizations; limited investment level; insufficient adaptation of Ukrainian legislation to the requirements of the European Union; the problem of reforming the market and its structure; dependence on state funding; lack of innovative activity; problems in the field of logistics and supplies. The assessment of direct losses in the field of agro-industrial complex and agricultural infrastructure, which were the result of constant attacks by the Russian armed forces, is presented. Among the components of these losses, the largest ones that have become the most financially significant should be indicated: agricultural machinery, finished agricultural products, and grain storages. It is these losses that can be recognized as significant and such that they do not allow us to talk about the rapid improvement of the situation in the agricultural sector of Ukraine and the attraction of investments. The main vectors of increasing the investment attractiveness of the agrarian sector of the Ukrainian economy are given and a list of measures that must be taken to solve the main problems of the agrarian sector of Ukraine during and after the war, as well as improving the investment component of the development of the agrarian sector of the economy and continuing the European integration processes, is presented.
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