Leshchenko M. N., Candidate of Economic Sciences, Associate Professor of the Department of International Economics and Business, Cherkasy State Technological University

ORCID ID: 0000-0002-0210-9582
e-mail: mari.leshchenko@gmail.com

Pasenko V. M. Candidate of Economic Sciences, Associate Professor of the Department of International Economics and Business, Cherkasy State Technological University

ORCID ID: 0000-0002-7411-2625
e-mail: pasenko_vlad@ukr.net

Modern Factors of Activating International Business in Ukraine and in the World

Introduction. The article is devoted to the issues of the modern factors of international business activation in Ukraine and the world. It has been noted that the last decade is characterized by the intensification of digital technologies and their active influence on the development of international economic activity. It has been confirmed that the most important factors in the intensification of international business are the development of information and communication technologies and the “fintech” technologies. It has been shown that the key carriers of modern digital technologies are the leading multinational corporations, which play a key role in the creation, development and dissemination of innovations. Modern TNCs directly affect new trends in international business, global competitiveness in international markets, as well as the economies of the world’s economies. The article defines that in the current conditions of international business development it is becoming increasingly obvious that the interdependence between the activities of modern corporations and key trends in the world economy.

Purpose. The main purpose of the article is to highlight the trends in the development of digitalization and informatization processes as the most important factors in the development of modern international business. It is necessary to study the indicators of economic activity of corporations in the sector of information and communication technologies. 

Results. It has been noted that the products of the ICT sector are used mainly by developed countries and especially by developing countries. The least developed countries and countries with economies in transition are almost not involved in this trade, but since 2017 they have been slowly increasing this trend. It has been confirmed that areas of international business differ significantly depending on the use of digital technologies. The risks and opportunities of digitalization for international companies have been identified. 

The indicators of the information and communication technologies’ development in Ukraine have been analyzed. The progressive development of the IT ecosystem in Ukraine in such elements as the number of IT outsourcing and product companies, the number of people employed in this industry, the growing market share of Ukrainian IT services and products have been identified. Among the modern world-class digital technologies that successfully transform the business environment within the country are the following: cloud computing, Internet of things, robotics, big data, machine learning, artificial intelligence, 3D printing and blockchain. It has been proved that among the main tasks of modern corporations today is the desire to gain new competitive advantages through the use of information and communication technologies, the full use of the needs of informatization of the world economy.

Conclusions. Modern opportunities for TNCs in the information sphere are related to the sphere of the Internet of Things (IoT). IoT creates new opportunities for better business conduct and quality, increased customer satisfaction, consumer-manufacturer relationships, and generally increased business activity in the industry The risks of informatization have been identified, namely: the growth of cybercrime; strengthening the technological vulnerability of digital infrastructure; issues of aging of fixed assets and their safe disposal; possible weakening of technological and economic national security of individual countries due to the growth of technological dependence on foreign suppliers. The issues of possible job loss due to the development of the innovative industry and automation of production processes are becoming more relevant.

Keywords: digitalization, information and communication technologies, intensification, international business; transnational corporations; competitive advantages.

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