Improvement of the mechanism of state regulation of investment in the innovative development of the agrarian sector

Abstract

The purpose of this article is to analyse the main factors of innovative development of the agrarian sector, to run a research on investment support of innovations, which will enable to determine the main directions of improvement of the mechanism of state regulation of investment in the innovative development of the agrarian sector of the country. The methodology of the research is to substantiate the necessity of state support of innovative development of the agrarian sector, as a priority direction of its investment support, which involves the implementation of a set of measures to change existing trends, reducing the amount of financing of scientific and technical works, and reducing the number of research institutions involved in the development and implementation of innovative products in agriculture, while creating an institutional environment for development and implementation of agrarian innovations through the national and regional investment funds, promotion of the implementation of scientific developments into production by expanding the availability of financial resources through public and private partnerships and the commercialization of research results. The results of the study indicate that Ukraine’s agriculture has potential opportunities to improve its competitive advantage in world markets. However, in order to strengthen them, it is necessary to take a number of measures: to form economic and political support for agricultural enterprises using scientific equipment and new technologies; to ensure the creation and distribution of a network of innovative funds to support innovative business at different levels; to orient all loans and support in Ukraine to implement innovative projects in specific areas of production development, including innovation and investment support of agricultural enterprises; Provide additional tax incentives for enterprises producing innovative products, which will increase the financial resources for the implementation of innovation projects and innovation program; clearly identify the legislative provision of funding and form a mechanism to support small businesses. Practical meaning. The identified development priorities can serve as a basis for creating conditions for the domestic agricultural enterprises to implement the offensive strategy in foreign markets, supporting constructive competition in the domestic market, which will stimulate agrarian formation to innovation, ensure close integration of production and science, in order to facilitate the advance development of scientific and technological sphere. Value/Originality. The results of the study indicate that improving the investment provision of the agrarian sector of the economy involves determining the prospects for its long-term development based on scientifically based methodological approaches, the use of which allows measuring changes and expected socioeconomic outcomes.