PUBLIC MANAGEMENT TOOLS OF INVESTMENT DEVELOPMENT OF THE REGION

Abstract

The article examines the public management tools of the investment development of the region. Primary attention is focused on the essence of investment activity, which is implemented through investment projects. Basic documents for the implementation of investment activities are strategies (at the state, regional and local levels), action plans, economic and social development programs, regional development agreements, recovery plans (at the level of communities and regions), etc. It is emphasized that the choice of public management tools of the investment development of the region depends on the characteristics of each specific region (geographical location, presence of favorable relations between business and local authorities, etc.). At the legislative level, the following typology of territories is proposed: recovery territories, regional poles of growth, territories with special conditions for development, territories of sustainable development. An example of the mobilization of competitive advantages is the concept of investment development on the basis of «smart» specialization of the region. And also, «impact investing» as an investment strategy that will increase the amount of investment attraction. Investment policy tools are applied at the state (legal, financial, administrative, tax, etc.), regional (direct and indirect methods), local levels (guarantees, direct participation, preferential conditions, etc.). Special attention is paid to the investment development of regions and communities. Among the tools for restoring the territories of Ukraine, we distinguish: tools for business support, tools for the development of human capital, tools for increasing the attractiveness of territories. For the balanced investment and innovation development of territories, four types of tools are selected: institutional (strategies, benefits, formation of an institutional environment, etc.), infrastructure (clusters, industrial parks, cooperation, etc.), financial and investment (grant programs, investment cards, loans, etc.) and communication (forums, conferences, project groups, digital platforms, etc.). Investment projects and investment development programs receive state support in accordance with the State Regional Development Strategy of Ukraine through the State Regional Development Fund. The conducted analysis made it possible to determine that the systematic and purposeful application of public management tools for the investment development of the region will help economic growth, recovery and sustainable development of the Ukrainian territories.