THE ROLE OF THE STATE IN PROMOTING INTERNATIONAL INVESTMENT COOPERATION

Abstract

The dynamic development of the modern world economy takes place under the influence of the ever-increasing competition of all participants in international economic relations. It is obvious that the constant changes of expansion and deepening of countries to international investment cooperation. The lack of financial resources and the insufficient level of reserves of internal investment resources force the state leadership to resort to the search for additional resources, the establishment of ties and the involvement of foreign partners in cooperation. Today, foreign capital remains additional to national capital and plays the role of a catalyst in the development of the national economy.

Studies of international investment cooperation have always been in the center of attention of economic science. This is explained by the fact that investments, in particular foreign ones, are an important tool for structural changes in the national economy, the formation of favorable conditions for exiting the economic crisis, the introduction of new researches of NTP, which ensures high indicators of financial and economic activity, both at the macro and macro levels.

The new military, political and economic situation in the country significantly complicated the processes related to the inflow of foreign investments. Taking into account the factors listed above, it is necessary to research and outline new problematic aspects and directions for their solution in modern global conditions.

The purpose of this article is to study the need for state participation in the processes of stimulation and attraction of foreign investments in the country's economy in conditions of deepening globalization.

The deepening of investment cooperation is closely related to the processes of globalization of the world economy. The concept of globalization should be considered as a self-organized system that is associated with the growth of economic openness of national economies, their interdependence and interaction, and as a consequence of strengthening economic integration into the world economy. Processes of integration of national economies through trade, financial flows, the spread of technologies, the development of information networks, and intercultural exchange are inherent in globalization itself. It is logical that the consequences of globalization are the regular nature of cooperation between individual states and firms based on the advantages of international division and cooperation of labor. The objective process of globalization of world economic relations determines the development of international investment cooperation as the most complex component of this process.

The development of investment strategy and structural policy, economic decision-making takes place on two levels, the first level is represented by business entities, in particular, companies, corporations, they are the ones who form the final investment decisions, based on priorities that reflect social needs, the second level is the national economy. These two levels strengthen investment cooperation.

Attracting foreign investments to the domestic economy is the main task that will have to be solved in the coming years. However, it is generally known that the growth of financial flows to Ukraine in the near future will depend on the military and political situation in the country.

In Ukraine, there are both subjective and objective factors that can negatively affect investment processes, in particular: the war with Russia, one of the biggest obstacles to attracting international investments to the Ukrainian economy; the absence of a stable macroeconomic situation and the spread of corruption; mistrust of the judicial system, unfortunately, the country does not have the necessary legal instruments that would ensure the quality resolution of disputes and legal rights of the investor, the foreign investor is granted equal rights in all sectors of the economy; instability of legislation, constant changes in the field of law-making do not provide a foreign investor with guarantees of protection from unstable laws, constant attempts to improve regulatory acts in accordance with the implementation of the main strategic goals of the state caused frequent changes in Ukrainian legislation; the low purchasing power of Ukrainians and low macroeconomic indicators compared to other developed countries leave Ukraine on the periphery of foreign investment flows.

In today's conditions, the following are the priority directions for promoting the development of international investment: the end of the war and the territory of the country, the stabilization of the economic and political situation, a transparent and stable legislative system for supporting the investment activities of foreign partners, expanding the scope of the search for additional investment resources for the recovery and development of the Ukrainian economy