Yatsenko Оlexandr, Doctor of Economics, Professor, Head of the Department of Business Economics, Accounting and Audit, Cherkasy National University named after Bogdan Khmelnitsky, Cherkasy, Ukraine

ORCID ID: 0000-0002-6404-1894
e-mail: allexsan74@ukr.net

Investment Image of the Region in Modern Conditions

Abstract. Introduction. In the conditions of the processes of globalization and the intensification of the interdependence of national economies, regions that aim to realize the potential of their region as much as possible are obliged to resort to marketing the territory and strive to create a positive regional image.

Purpose. The purpose of the study is to reveal the concept of the image of the region in modern conditions using the example of the Cherkasy region and to develop ways of its formation to attract foreign and domestic capital.

Results. The article reveals the concept of “image” and “image of the region” as an economic component and its elements. Thus, the image structure of the region can be conditionally divided into objective and subjective components.

An analysis of the internal regional product of the Cherkasy region for the period 2012-2021 was conducted and conclusions were drawn that this indicator has gradually increased. The dynamics of investments in fixed capital were studied, and according to the basic growth rate (compared to 2011), the Cherkasy region was significantly ahead of the same indicator in Ukraine. The highest growth in the region was noted in 2019, when capital investments in tangible assets amounted to 353% of the 2011 level (260% in Ukraine in general). This fact is due to the growth of investors’ confidence in the regional leadership. During the year, a certain list of measures was taken to stimulate the inflow of investments into the region (action of the regional target program, attraction of state funding, attempts to reduce administrative barriers, etc.). It is also necessary to note the investment decline in 2014, due to the unfavorable crisis situation, after which the growth rate of capital investments in tangible assets began to slowly increase, mostly due to the development of the agro-industrial complex.

An analysis of the structure of investments in the fixed capital of the Cherkasy region in dynamic sectors of the economy for the period 2012-2020 was carried out and it was found that the largest specific weight of the total amount of investments in the fixed capital is occupied by agriculture, forestry and fisheries (36% in 2013) and industry (39% in 2013). During the studied period, the share of investments in agriculture increased and amounted to 50% in 2020, and the share of investments in industry decreased to 29%).

Originality. The author’s definition of the term “image of the region” is proposed. The reason for the change in the structure and the decrease in the share of investments in industry is the low level of technical rearmament, the low competitiveness of domestic products on the foreign and domestic markets, and the rise in energy prices.

Conclusions. According to the results of the analysis of investment indicators of the Cherkasy region in recent years, the work made a number of important conclusions characterizing the investment situation of the region and provided recommendations for the formation of a positive image of the Cherkasy region.

Keywords: image; image of the region; investment image of the region; internal regional product; investment; investment attractiveness of the region.

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