STATE STIMULATION OF THE INNOVATION AND INVESTMENT POTENTIAL OF UKRAINE IN THE CONDITIONS OF POST-WAR RECONSTRUCTION

Abstract

The article provides a comprehensive substantiation of the theoretical foundations of state stimulation regarding innovation and investment activity in Ukraine under the conditions of contemporary economic transformations and post-war recovery. The role of the state as a key institutional actor shaping the regulatory, organizational, financial, and economic environment for the activation of investment processes is examined. The importance of state regulation in ensuring a favorable investment climate, increasing the investment attractiveness of the national economy, and stimulating the development of strategically important sectors is justified.
The study analyzes the dynamics of the innovative activity of industrial enterprises in Ukraine, including the number of innovation-active enterprises, the volume of innovative products sold, and expenditures on innovation, research, and development. It is established that innovative activity is characterized by instability due to the influence of internal and external factors, including military actions, economic volatility, and limited financial resources. Trends in attracting foreign direct investment to the national economy during 2013–2024 are examined, revealing the cyclical nature of investment processes and their dependence on macroeconomic stability, the institutional environment, and the level of investment risks.
The main obstacles hindering the development of innovation and investment activity are identified, including the imperfections of the judicial system, a high level of corruption, economic instability, the impact of military risks, and insufficient state support for innovation. The necessity of improving state regulatory mechanisms aimed at forming an effective innovation and investment policy is substantiated.
Priority directions for intensifying innovation and investment activity are proposed, including the introduction of state co-financing mechanisms for investment projects, the development of industrial parks and clusters, the implementation of innovation vouchers to support small and medium-sized enterprises, the expansion of preferential lending programs, and the establishment of specialized institutions for innovation financing.