Development of territorial communities through attraction of foreign investment

Abstract

Territorial communities have been granted autonomy in decision-making on their functioning and further development through the administrative-territorial reform and financial decentralization. The formation of own resources by territorial communities for the implementation of relevant programs and expenditures is insufficient. Therefore, there is a need to find and attract foreign investment in the development of territorial communities. The purpose of the study is to form a mechanism for the development of territorial communities by attracting foreign investment. The study is based on the analysis of foreign direct investment by region of Ukraine and the regulatory framework for promoting foreign investment. Territorial marketing tools and an integrated approach to attracting foreign investors were used. The regions of Ukraine have different dynamics of attracting foreign direct investment, which is due to the economic characteristics of the territories, sectoral affiliation, and martial law. The study has shown that territorial communities should ensure development through high-quality investment facilities, the formation of favorable investment environment and investor support, and the use of public-private partnerships.