Investment and Innovation Development of Agriculture in Ukraine

In: Ekonomika APK: naukovo-vyrobnyčyj žurnal, Band 29, Heft 4, S. 10-21

Abstract

The tasks facing agro-industrial production in Ukraine are to stimulate the processes of accumulation and effective use of investment resources according to the priorities of economic growth, and prospects for the development of innovation activities. The prerequisite for this is macroeconomic stability, which contributes to the accumulation of internal and external factors and resources by increasing investor confidence in economic regulatory policy and reducing the level of risk of investment activity. The issues covered in the study will primarily concern such important factors in ensuring the development of agroindustrial enterprises as innovation and investment. These concepts are widely reflected in the research of many economists, but the management of innovation projects and investment activities to ensure the economic security of agribusiness entities is not sufficiently developed. This determines the relevance of the article. The purpose of the study is to determine the nature and features of agricultural innovations, to examine the conditions and factors of innovative development of agriculture, to assess the challenges and prospects of using the latest advanced technologies in agriculture and their financial support. The following methods were used in the investigation: dialectical, systematic approach, monographic, economicstatistical, tabular, graphical, comparative analysis, abstract-logical and analytical forecasting. The features of the introduction of innovative technologies in the agrarian sector of the economy are analysed and it is revealed that agro-innovations are closely related to agrotechnical conditions of production, are linked to living organisms, are seasonal and, accordingly, have a high level of risk. The analysis of material costs for the production of cereals and the dynamics of their prices was carried out. Using the example of one of the farms of the Vinnytsia Oblast, it is calculated how precision farming technologies and energy-saving technologies can reduce the cost of grain production. The main trends in investment support for agriculture, the relationship between capital investment and GDP are identified, and their role in the implementation of agricultural innovations is clarified. The prospects of investment support of innovative activity of Ukrainian agriculture in the war period are determined. The measures to address the issues related to the introduction of innovations in agriculture are proposed. They will help to improve the production process, increase the efficiency of using internal ones and maximise the attraction of external investment in the implementation of innovative ideas.