Features of Foreign Investors’ Protection in Administrative Legal Proceedings of Ukraine

Abstract

In a difficult economic situation in Ukraine, the attracting of foreign investment is the priority direction of economic development. In practice, there are often cases of violation of the foreign investors’ rights by officials. Therefore, an important issue of the present is the study of the foreign investors’ rights protection mechanism since they are important economic entities. Ukraine has an outflow of foreign investment. This is due to the imperfection of the current legislation, economic instability, corruption, unfairness of counterparties, unlawful actions of state bodies, and the absence of an effective mechanism to protect the rights of foreign investors. Therefore, the objective of the article is to study the peculiarities of administrative legal proceedings of foreign investors protecting, to analyse the current state of protection of foreign investors in Ukraine by administrative courts, and to analyse the problems that arise in practice. It should be noted that the researchers did not investigate the peculiarities of administrative legal proceedings of foreign investors’ protection. A considerable attention is paid to protecting foreign investors in the context of economic legal proceedings. Therefore, the issue deserves special attention. Methodology. The authors substantiated the necessity to improve the current legislation concerning the protection of foreign investors in the administrative legal proceedings. Based on the analysis of the current legislation norms, one can conclude that most norms are only declarative. Therefore, the authors provide appropriate proposals for improving domestic legislation using positive foreign experience. Results. The article reveals the peculiarities of the appeal of decisions, actions and inactivity of the subjects of authority by foreign investors, the relevant judicial practice is analysed there, the European experience is investigated in order to implement it in domestic legislation. The authors discuss the current state of protection of foreign investors in Ukraine by administrative courts and the problems that arise in practice. Particular attention is paid to the lack of proper legal protection of foreign investors. In this regard, the appropriate proposals are provided by the authors that will contribute to improving the investment climate in Ukraine. Practical implications. Foreign investment has a positive effect on the economic situation of any state. In order to achieve investment attractiveness, Ukraine needs to provide it with adequate judicial protection. Value/originality. The urgent question of the present is the protection of foreign investors in the form of administrative legal proceedings. The necessary step is the implementation of positive international experience on this issue in domestic legislation.