PROBLEMS OF IMPROVING UKRAINIAN LEGISLATION ON FOREIGN INVESTMENTS
DOI:
https://doi.org/10.15407/econlaw.2025.01.003Keywords:
foreign investments, screening, state regulation, legal regulation, updating of economic legislationAbstract
The article examines the current state of investment legislation. Particular attention is paid to the comparative legal analysis of the legislation of Ukraine on foreign investments with the law of the European Union, in order to identify problems and propose ways to solve them for the effective attraction of foreign investments to the economy of Ukraine during the period of martial law and in the post-war period. It is argued that the introduction of Ukraine's own mechanism for screening foreign direct investments is critically important for the sustainable functioning of the economy in wartime and post-war times, and is also predictable in view of the ongoing processes of approximation of Ukrainian legislation to the law of the European Union. One of the important components of state regulation of investment activity as a complex of organizational, economic and legal measures of the state aimed at the spread and intensification of investment processes is the policy of protectionism aimed at protecting the national investment market. Its main tools are increasing customs tariffs on imports, taxation of foreign investments, and restrictions on the import of certain goods. A key element of state policy in the field of investment is regulatory and legal regulation. The conclusion is substantiated that economic (economic) legislation, including investment legislation, requires systematic updating (modernization), which will ensure: orderliness of economic (economic) activity at a higher level; laying the foundation for systematic, consistent, logical development of legislation on economic (economic) activity; achieving mutual consistency and stability of the action of legal norms that regulate relations in the field of economy; compliance of legislation with the latest needs of the economy; simplification of the search for the necessary regulatory material by law enforcement entities; optimal combination of state regulation and market self-regulation of the economy; consideration and coordination of public and private interests in the economic sphere; achieving unity of relevant law enforcement (including judicial) practice; reducing the number of economic offenses, economic disputes subject to judicial review, etc.
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