Given the economic situation currently existing in Ukraine and the need for sustainable development, efficient regulators should be used to ensure investment attractiveness of the country. However, the statistics show unfavorable investment raising trends, in particular, what is meant here is a decline in investment activities of investors in Ukraine. According to the data provided by the State Statistics Service of Ukraine, in 2017 foreign investors from 76 countries invested USD 1.6 billion of direct investment (equity) in Ukraine’s economy, this being significantly lower than in 2016–2015, and this indicates that investors’ interest in Ukraine has substantially declined. The purpose of the article is to identify the determinants which, one way or another, adversely affect Ukraine’s investment attractiveness, and to offer elements of the legal structure of the country’s investment attractiveness in the context of sustainable development. The author highlights the determinants with a negative impact on Ukraine’s investment attractiveness. It is established that for investors, military operations underway in the Eastern regions of the State are the negative factor. Another problem of no less significance is the instability of Ukrainian legislation as an obstacle to investment raising. Scholars and government officials have repeatedly emphasized this, however, without any positive developments in this area so far. Corruption has become an immanent feature of Ukrainian reality and penetrated every sphere of society and its life. Another problem encountered by investors is the excessive regulatory mechanisms applicable to some or other procedures in the sector of business. To solve this problem, the legislator adopts statutes and regulations aimed at simplifying various procedures in the business sector. The article proposes elements of the legal structure of Ukraine’s investment attractiveness in the context of sustainable development, namely: investment policy of the State; tax policy of the State; assurance of an accessible, transparent and efficient system to protect investors’ rights; tax and other incentives. The author comes to the conclusion that sustainable growth of Ukraine’s economy is impossible without an inflow of investments, and thus it is important to ensure that a development strategy is in place for elements of the legal structure of Ukraine’s investment attractiveness.
List of legal documents
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