Regional Investment Policy as a Tool for Reconstruction and Development of the Black Sea Economy

Abstract

The article examines the current state, dynamics, and key trends of investment policy in the Ukrainian Black Sea region's economy. It is determined that the investment development of the area is a key factor in restoring the region's economic potential, especially given its strategic location, infrastructure resources, and the availability of agricultural and industrial opportunities. Over the past few decades, Ukraine has been undergoing a process of deindustrialization, accompanied by a structural transformation of its production system and the decline of individual industries. Analyzing internal and external factors influencing investment activity, the authors draw attention to the uneven development of the agro-industrial complex, particularly in the Black Sea region, where specific segments demonstrate stable growth. In contrast, others remain at risk due to insufficient support, low investment attractiveness, and a weak state incentive policy.

Special attention is paid to the microeconomic level, specifically small and medium-sized enterprises, which have significant but unrealized potential for increasing the region's economic self-sufficiency. The authors emphasize the need to create simplified investment schemes and programs to support underdeveloped production sectors, which will enable the intensification of entrepreneurial activity, reduce barriers to market entry, and enhance economic sustainability. The article emphasizes the need to form a positive institutional environment, favorable labor legislation, increase the reputation of entrepreneurial culture, as well as the importance of technical and financial support from the state and international partners. A vision of strategic investment policy directions is proposed, which can serve as the basis for the long-term development of the Black Sea region in the conditions of post-war reconstruction.

Regions are key agents of investment attraction, innovation, and competitiveness in the context of globalization. During the period of martial law, it is crucial to develop further local investment attraction strategies that focus on sustainable development.