Some Problems of Formation of Investment Law of Ukraine

Abstract

 Problem setting. Ukraine has been accumulating experience in a sphere of investment activity, its legal regulation; running an active policy to create an effective inner investment market, attracting foreign capital to the country; it’s been changing strategy and tactics of investment process management, however, in our point of view, it hasn’t managed to create effective, adequate to modern time state regulators. Analysis of reсent researches and publications. D. V. Zadyhailo, V. K. Mamutov, O. P. Podtserkovnyi, S. V. Glibko, V. A. Ustymenko, V. S. Shcherbyna, O. M. Vinnyk, M. P. Lukinska etc. devoted their works to investment activity regulation. A target of research in this paper is an analysis of sources of investment activity legal regulation in Ukraine as well as development of Investment Law during independence time. The paper’s main body. Development of modern economy is impossible without foreign capital contributions that cause growth of international cooperation role in the area of foreign investments and their legal regulation. Nearly all the states of the world focus their efforts on growth of foreign investments investment attractiveness as well as enhancement of their volumes into national economy. International capital movement is a unidirectional movement of some kind of values in a form of goods or money abroad with the purpose of profit or business profit gaining. The main reason for international capital movement is differences in the amount of profit gained, access to the technologies etc. Besides, there are other factors at which an attention is paid according to different theories: according to the market power theory of S. Hymer a subject of investment activity who exports the capital is oriented by the will to dominate on market and achieve a market power. Investment abroad is done with the aim to weaken the concurrent and save control over the market. So called «protection investments» are also used that means founding of sometimes even lossmaking manufactures abroad with an intention to weaken concurrents’ position on these markets. The concept of technological accumulation explains international movement of capital as a consequence of technological and innovation process development. A firm creates new technologies with the aim of strengthening the control and property on the basis of its own technological preferences. Conclusions and prospects for development. Consequently, the investment policy of Ukraine and its legal regulation are strongly influenced by international processes that take place at present time in the world. It’s the common feature of investment activity regulation either in Ukraine or abroad. However, there are some differences that are to be taken into account while creation of effective investment model for the country.