Increasing investment attractiveness of the forestry complex of Ukraine as a guarantee for sustainable development

Abstract

Within the article, the importance of increasing investment attractiveness of the forestry complex as a factor of sustainable development and conservation of the ecosystem is investigated. A methodical toolkit for evaluating the process of forming investment attractiveness of the forestry complex is proposed. The importance of improving workflow management and motivation of the personnel of the enterprises. It has been proved that the growth of investment attractiveness can be achieved provided proper tax climate is created, state guarantees are developed, timber export is reviewed, cooperation with foreign companies is established. Attention is drawn to the fact that the investors' decisions to invest in the economy of a particular country are significantly influenced by the following ratings: The European Business Association's Investment Attractiveness Index; Doing Business; Index of economics freedom; Global Economic Forum Competitiveness Index. The proposed method of estimation of the process of formation of investment attractiveness of the forest complex is expedient due to the set of factors and indicators, which should be supplemented by carrying out an analysis to check their collinearity according to the Farrar-Glober algorithm. The article states that the growth of the forestry complex is directly dependent on the efficiency of work motivation, recognition of personal contribution to the overall success.