Innovation and investment fundamentals of the development of enterprises of the G7 countries during the period of globalization challenges

Abstract

Ukraine and the G7 countries are strategic partners in the implementation of joint socio-economic projects. An analysis of the innovation and investment development of enterprises in the G7 countries and Ukraine showed that an important tool to remove obstacles to creating favorable conditions for attracting investment in the Ukrainian economy is to improve the regulatory framework and attract capital to modernize domestic production. The same applies to the issue of creating and developing special forms of organization of innovative activity (clusters, industrial park, technology parks). The official basis for the analysis is the official materials of the State Statistics Service. Statistical analysis (absolute and relative statistical values, samples) allowed us to evaluate the main indicators of the enterprise, the dynamics and structure of export opportunities. Based on a systematic and structural approach, positive aspects of enterprise development and risks in G7 countries were identified. Thanks to the analysis, comparison and extrapolation in the sphere of functioning of enterprises of the G7 countries and Ukraine, priority areas of development are identified. Based on the analysis of the development of innovative activity of enterprises of the G7 countries, it should be noted that a unique innovative system has been created in recent years. The main elements are the forms of organization of innovation. Each of the G7 states invests in the innovative development of enterprises, including the implementation of specific programs that promote development. It is empirically established that the problems of the development of domestic enterprises are determined by the low level of institutional support, insufficient investment activity and lack of innovation. Potential areas of cooperation for creating transnational clusters in the food industry between Ukraine and the G7 countries are substantiated. Positive aspects of development and factors hindering their functioning in Ukraine were identified (imperfect regulatory support, lack of preferences, low level of investment component). The existing experience in the functioning of special forms of organization of innovative activity must be taken into account in the process of building an innovative network in Ukraine. The problems of institutional support for the functioning of domestic and foreign forms of organization of innovative activity of the food industry (institutions of innovative development, adoption of bill No. 2554 a-d, 2555 a-d) are identified. Proposals have been developed to improve the regulatory framework of Ukraine, taking into account the particularities of the experience of the G7 countries (including the Laws of Ukraine “On Science Parks”, “On Industrial Parks”). Taking into account the main aspects of innovative development of G7 enterprises opens the opportunity to implement best practices in domestic enterprises. In particular, through the creation of joint ventures, clusters and transnational clusters. Therefore, such cooperation can be a promising avenue for further development in a time of globalization challenges.