Current Issues of Strategic Planning of Local Economic Development of Khmelnytskyi Region

Abstract

Theoretical bases and practical recommendations on strategic planning of local economic development of Khmelnytskyi region are investigated. To this end, the theoretical foundations and peculiarities of the local development strategy are considered, development indicators are analysed and recommendations for improving the level of economic development of Khmelnytskyi region are provided. The essence of strategic planning as a component of the holistic system of local economic development planning is studied. The content of the concept of strategic planning is described. Recommendations are provided for improving mechanisms, such as: local targeted programs, public-private partnerships, local guarantees and social and corporate responsibility projects. It is determined that public-private partnership will allow the authorities to meet the needs of economic development through investment funds. It is proposed to take into account economic security indicators in the development strategy of the region and identify those responsible for their achievement, which will solve the problems of economic security in the future. It is proposed to apply the principle of self-sufficiency in financing the strategy, to strengthen the monitoring system in the development of the strategy, to involve qualified employees from local authorities and business in the development of the strategy. It is recommended to develop programs and projects aimed at attracting investment, supporting entrepreneurship, starting new businesses, maintaining existing businesses, developing local markets and more. The article states that the legal framework of local strategic planning is currently being formed, so in the future we can expect the emergence of a number of new documents and methodological developments that will improve the level of development of the region. Based on this, it is recommended to develop regional plans to increase the investment attractiveness of the region through the preliminary study of its investment environment.