LEGISLATIVE AND ADMINISTRATIVE PRINCIPLES OF INVESTOR SUPPORT IN UKRAINE: EUROPEAN GUIDELINES AND DIRECTIONS FOR IMPROVEMENT

Abstract

The theses examines the legislative and administrative principles of the formation of a favorable investment climate in Ukraine, taking into account the European experience of supporting investors. Emphasis is placed on legal guarantees of investor entry, stability of the regulatory environment, consistency of powers of central and local authorities, procedures for state support of investment projects and mechanisms of post-project interaction with the investor. The significance of the legislation on investment activities, the regime of foreign investment, state support for projects with significant investments, public-private partnership and regional policy is considered. Based on a comparison with the practices of Germany Trade & Invest, Polish Investment and Trade Agency, CzechInvest, Business France and UkraineInvest, it is substantiated that for Ukraine it is important not to narrow the policy to the promotion of the state, but to form the investor's legal route from the initial application to the implementation of the project. It was concluded that the improvement of the investment climate should be based on consistent legislative initiatives that reduce administrative uncertainty, limit excessive discretion of authorities and ensure predictable interaction between business and the state.