FINANCIAL AND INVESTMENT SUPPORT FOR INCREASING THE EXPORT POTENTIAL OF THE FOOD PROCESSING INDUSTRY OF UKRAINE

  • Oleksandr Bayrachnyi National University of Life and Environmental Sciences of Ukraine
Keywords: financial and investment support, capital investments, food processing industry, export potential, global food market, food products, fixed assets

Abstract

It is substantiated that the processing and food industry is one of the main structural units of the national economy of Ukraine in the context of military challenges, European integration aspirations and increasing importance of the agricultural sector in the system of social reproduction. It has been established that the key priority for the development of the processing and food industry in the short and medium term is to increase its export potential, which requires comprehensive modernisation, reconstruction and technical re-equipment of the fixed capital of processing and food production. Studies have shown that in 2010-2023, the dynamics of the nominal value of capital investment financing in the food, beverage and tobacco production sector generally showed an upward trend, which does not correlate with the real volume of investment in the food processing sector, due to the lack of effective financial instruments for state support for agro-industrial production entities and the excessive narrowing of the range of sources and methods of investing in projects to modernise production and technical bases. It is substantiated that the prospects for increasing the export potential of the processing and food industry of Ukraine directly depend on the ability of domestic agro-industrial entities to produce food products that meet international regulations and standards of food quality and safety, which in turn requires modernisation and renewal of fixed assets of processing and food production. It is proved that increasing the export potential of the food processing sector requires the introduction of modern innovative technologies for processing agricultural raw materials and producing finished food products in accordance with international veterinary and phytosanitary standards. It is established that the diversification of sources and methods of financial and investment support for increasing the export potential of the processing and food industry in Ukraine will be possible provided that integrated structures are formed that will unite producers of agricultural raw materials and processing and food production and ensure the creation of additional closed cycles in agro-food chains.

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Published
2024-11-25
How to Cite
Bayrachnyi, O. (2024). FINANCIAL AND INVESTMENT SUPPORT FOR INCREASING THE EXPORT POTENTIAL OF THE FOOD PROCESSING INDUSTRY OF UKRAINE . Economy and Society, (69). Retrieved from https://economyandsociety.in.ua/index.php/journal/article/view/5170
Section
FINANCE, BANKING AND INSURANCE