Investment Attractiveness of Agriculture in Ukraine: Factors and Prospects for the Future
DOI:
https://doi.org/10.57125/FEL.2024.03.25.02Keywords:
agrarian sector, competitiveness, innovation model, innovative tools, risks and opportunitiesAbstract
The article considers the current state and prospects of the development of innovation processes in the agro-industrial complex in the context of globalisation and integration into the world economic space. The relevance is determined by the fact that agriculture in Ukraine needs innovative and investment changes that will become one of the priority factors in the post-war recovery of the industry. The article's purpose is to analyse the current situation in the agricultural sector of Ukraine, possible problems, and ways to increase investment activity. The study uses the literature review method to analyse the attractiveness of investment in agriculture in Ukraine. The literature search used Google Scholar, Scopus, and Web of Science databases. The review includes publications for 2015–2023, covering economic, political and social factors influencing investments in the agricultural sector. The most favourable and effective mechanisms for incorporating innovative activities into the farming sector of the economy are identified. The priority steps to transform the farm production policy in the innovation sphere are formulated and substantiated. The main trends and possibilities of modern support for developing innovation processes at all product creation and sales stages are identified. The basis for further developing the agro-industrial complex and strengthening its competitiveness in the global food market should be a targeted state policy aimed at introducing innovative development models in the agricultural sector. Reforming the agricultural sector of Ukraine should be aimed at the organisational, technical and technological restructuring of agricultural production, creating the basis for the dynamic, integrated development of enterprises, the industry, and the country. The article concludes that ensuring favourable conditions for sustainable innovation development in the agricultural sector should become a priority for developing Ukraine's agro-industrial complex in the context of the country's integration into the global economic space. The primary tool for achieving this goal is developing and implementing optimal and effective mechanisms for restructuring economic and management processes in the agricultural sector of the national economy.
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