Financial and economic stimulation of the development of the processing industry on the basis of the natural resource potential of the regions in the post-war period
Authors:   Lutsk National Technical University, SHUBALYI Oleksandr , PETRUKHA Sergii ,   Kyiv National University of Construction and Architecture, KOSINSKYI Petro ,   Lutsk National Technical University, PETRUKHA Nina ,   Kyiv National University of Construction and Architecture
Published: June 2023

Introduction. Financial and economic stimulation can be considered as one of the most effective ways to support the domestic processing industry as a whole and restore established or create new chains of generation of added value in the conditions of the legal regime of martial law. This actualizes the need to deepen the research of predictors and challenges of this process and the formation of approaches to the application of the most appropriate forms and tools of financial and economic stimulation, primarily in the regions of Western and Central Ukraine, which are currently actually a catalyst for the recovery of economic growth. Problem Statement. The sphere of financial and economic stimulation of the development of the processing industry through the prism of deepening the processing of natural resources in war and post-war conditions. The purpose is to determine the priority forms and directions of financial and economic stimulation of the development of the processing industry due to the in-depth processing of natural resources in Ukraine in the war and post-war periods based on the application of promising forms and tools of stimulation, using a natural resource and production potential of the western and central regions of Ukraine, which suffered the least economic losses as a result of Russian full-scale aggression. Methods. The methods of monographic analysis, comparison and analogies, correlation-regression, tabular and graphic analysis, and financial and economic synthesis were used. Results. The trends (both before the war and under the conditions of the legal regime of martial law) towards the growth of the role of the processing industry of the western and central regions, in particular in the context of the implementation of the Plan for the recovery Ukraine from the consequences of the war, have been established. Given the uncertainty of the pace of post-war reconstruction, it is advisable to carry out such regulation in the following directions: 1) improvement of the system of financial and economic stimulation formed before the war, taking into account the achieved adaptation progress of its forms and methods to the reform of decentralization in all its manifestations; 2) prioritization of strategically important spheres of processing, which have a significant potential for further development, capable of meeting the immediate needs of the security and defense forces; 3) integration of foreign financial and investment flows and innovative technologies into the national economic system for its extended recovery in accordance with the best global standards; 4) improvement of the state financial and credit system of support for business entities; 5) implementation of the principles of the concept of sustainable and comprehensive development and/or recovery. It has been proven that the stimulation of clustering processes in general and the formation of a new for Ukraine institute of agricultural and construction clusters in particular, the development of industrial and technological parks, primarily in the regions of Western and Central Ukraine, will contribute to the sustainable and comprehensive ontogenesis of the domestic processing industry. The successful implementation of these tasks requires effective coordination of relevant actions by the state and territorial communities, as well as an active position of medium and large businesses, as well as the creation of a favorable investment climate for attracting foreign investments. Conclusions. Prospective forms of ensuring the accelerated recovery of the processing industry from the consequences of armed aggression include industrial parks. When forming their network, it is important to take into account the natural resource potential and the traditional territorial production and economic specialization of the regions of our country. In particular, in the regions of Western and Central Ukraine, which have large areas of agricultural and forestry land, a significant number of small rivers, it is advisable to promote the creation of specialized industrial parks for the development of in-depth processing in the areas of food, light, woodworking, forest chemical industry, building materials industry, and also to develop a favorable environment for the development of renewable energy technologies (biogas, biodiesel, bioethanol, small hydropower plants, etc.).