Today it is a prerequisite for the economic development of the country efficiency of investment activity. Significant for the Ukrainian economy and the problem of attracting foreign investment is urgent. Investment is an important component of a successful "life" of the economy, because this is it category and determines the overall economic progress. Foreign investment is money funds, securities, property and property rights, results of intellectual activity, other values provided by the current legislation, invested by foreign ones investors in objects of investment activity, which are not prohibited by law, for the purpose making a profit or achieving a social effect [1].The infusion of foreign investment into the national economy contributes to: attraction the latest technologies, improving product quality, creating new jobs, building export potential, use of resources, adjustment economic relations between economic entities, increase in money receipts received from abroad with a simultaneous decrease in the amount of payments for border; development of export potential and reduction of import dependence of the country. Attracting foreign capital in the form of investment leads to a number of effects in economics, namely:
• socio-economic effect. The development of the sector with foreign participation has multiplier effect for the whole economy, because it is accompanied connecting to it local suppliers, shows additional demand for skilled labor;
• "export effect". Expansion of exports, improvement of its structure the account of production of a modern machine-building complex, automobile and electronic industry, telecommunications and other high industries technologies;
• The "complement effect" occurs when foreign companies do not act competitors to local companies, and occupy their own niche;
• innovative effect. Because foreign direct investment provides transfer of technology, know-how, advanced management and marketing methods, they help to increase the efficiency of production resources both in companies with foreign participation and in national firms host country;
• "investment effect". Unlike foreign loans and credits foreign investment does not become a burden of external debt, but contributes to it repayment.
The problem of imperfection is acute in Ukraine territorial structure of foreign investment, as 60% of all investments directed to the city of Kiev. Also the most popular regions are Dnipropetrovsk, Kyiv, Odessa and Donetsk regions. The cause of this problem is that investors want to get a return on that deposit as soon as possible only when investing in industrialized regions.
At the same time, the use of foreign investment for the country is potentially possible characterized by such threats, namely: exploitation of raw materials and pollution environment, increasing the degree of dependence of Ukraine on foreign capital, reducing the level of domestic competitiveness producers, the transfer of capital abroad [2]. One of the main prerequisites for Ukraine's integration into the world economy is Ukraine's involvement in the process of international capital movements, for example, through use of foreign loans. Placement tools are placement bonds, Eurobonds, commercial credit, leasing at the international level. The main sources of attraction can be: loans from foreign countries, loans from financial institutions at the international level; country loans. Problems of ensuring the efficient functioning and stable development of the banking system and economy raw material suppliers; placement of debt securities on foreign markets, as well as in the domestic market when purchased by non-residents; international leasing, franchising, etc.
An attempt was made to model the dependence during the study foreign investment from the following factors: EXP - exports from Ukraine to the world, GDP - GDP of Ukraine, INF - inflation,%, KURS - dollar exchange rate, MINZP – minimum wages, NEPREK - opacity of the economy, RESOURSES - total resourceshouseholds. The constructed regression equation for foreign investment looks like this:
LOG (INVESTITION) = 1.61 * LOG (GDP) + 0.17 * LOG (COURSE) ^ 2 + 1.67
(R2 = 0.93, t (actual) = 10.16; 7.79; 2.20, t (theoretical) = 2.16)
That is, as regression coefficients show: change in the logarithmic value of GDP(UAH billion) per unit on average causes a change in foreign investment by 1.6units, while when changing the logarithmic value of the dollar (UAH) in squares per unit foreign investment changes by an average of 0.17 units.
Conclusions
Foreign investment is of strategic importance for development economy of Ukraine and increase its competitiveness. In order to increase volumes of foreign investments, improving their quality and efficiency of usewe suggest to take the following measures:
• Improving the attractiveness of the investment climate in Ukraine by improving legal regulation;
• increasing the stability and efficiency of the financial sector of Ukraine;
• ensuring sustainable economic growth of Ukraine's economy and improving its industry structure;
• a set of measures to optimize the refund of VAT from the budget;
• simplification of the customs system: free movement of goods, services and capital between states;
• providing tax benefits to foreign investors who invest in on the basis of a long-term period in the real sector of the economy, in order to compensate their losses from slow capital turnover, etc.
Also, today one of the promising areas of significant growth investment flows is the transition to the implementation of active structural policy [3, p. 36], aimed at stimulating the development of high-tech industries and industries, which, along with potential competitiveness, have significant potential outpacing growth in world markets, ie outpacing the development of which will soon determine the growth prospects of the world economy.
References:
1. Law of Ukraine "On the regime of foreign investment" of 19.03.1996 № 93/96-VR with changes and additions.
2. Moseychuk DS The essence of foreign investment: economic and accounting approach/ DS Moseychuk // International scientific-practical Internet conference "Accounting, taxation and control: theory and methodology", June 30, 2017, Ternopil. - P. 41–43.
3. Efficiency and competitiveness of the banking system of Ukraine / GT Karcheva, TS Smovzhenko, VI Mishchenko and others. ; for general ed. Dr. Econ. Sciences GT Karcheva. - Kyiv:SHEI "University of Banking", 2016. - 276 p.
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