Conceptual Model of Attracting Foreign Direct Investments in Terms of International Economic Integration

Abstract

Based on the positions of taking into account geoeconomic factors and processes of international economic integration, a conceptual model of attracting foreign direct investment (FDI) in the industry of the regions of Ukraine has been developed, which target is to ensure consistency of interests between a recipient region and foreign investors in investing. Goals. The goal of the article is to substantiate theoretical provisions and develop practical recommendations for improving conceptual model of attracting foreign direct investment in the industry of Ukrainian regions. Methods. Methodological basis of the article are fundamental provisions of economics, economic theory, the theory of foreign investment, as well as scientific results of leading domestic and foreign scientists and economists on foreign investment issues. Main results. A system of principles for the implementation of such model has been proposed, which includes general and specific principles, particular sectoral orientation, adaptability, complexity, efficiency, coherence and publicity. A system of coordinated goals and measures of regional investment policy within the conceptual model has been formed, which is structured in the following areas: creation of an effective system of FDI incentives in terms of technological modernization of industry, formation of attractive investment image of regional industries taking into account best international practice and setting up intensive and effective cooperation between local governments and FDI donor countries.