INVESTMENT COMPONENT OF TRANSPORT SYSTEM DEVELOPMENT OF UKRAINE

Abstract

The purpose of the article is to analyze investments in the transport sector of Ukraine as a component of the development of the transport system. The article examines the place and role of the transport system of Ukraine in economic development. The Ukrainian transport sector provides territorial interconnections, is a connecting link between production and consumption. The development of programs for the development of the transport system requires a detailed assessment of its technical condition, compliance of the number and structure of objects with the real needs of business development and transit opportunities. It is shown that the main problem of maintaining a competitive transport system in good condition and development is the insufficient amount of funding, as well as inefficient investments of allocated resources. All this actualizes the issue of organizing investment support for the development of the transport industry and creating conditions for the implementation of priority investment projects and programs. Stimulation of investment activity in the transport sector is impossible without effective state regulation, therefore a comprehensive preliminary analysis of the technical and economic justification of projects and relevant business plans is required, updating of standards and rules for investment activities in the transport sector, establishment of a strict procedure for benefits and preferences, improvement of the practice of conducting tenders. Such measures should contribute to the creation of a more favorable investment climate in the country for attracting foreign investment in the domestic transport complex. One of the sources of funding for the restoration and reconstruction of the transport system of Ukraine – the investment component has been investigated. The conducted analysis showed that the volumes of capital investments in the transport system of Ukraine do not have stable positive dynamics, and their share in the total volume of capital investments is about eight percent. By types of transport, the largest share falls on ground and pipeline transport – more than fifty percent. It was determined that in the conditions of European integration, the reorganization of international transport corridors was carried out, therefore, water transport needs modernization and development based on the implementation of investment projects.