Ukraine needs investments in the economy of knowledges
Today Ukraine is on the lowest level of competitiveness – resource-factor price that is achieved by export of resources and cheap labor power. While developed countries confidently take the highest stage of innovative competitiveness.
It’s obvious that for Ukraine it is necessary to change cardinally direction of development and promote own competitiveness by economic breakout. Competitiveness’ increase is the result of successive and carefully simulated by the state investments to the factors of the permanent economy growing. These investments are provided by two sources: private (corporative incomes and personal savings) directed to modernization of productive assets, retraining of managers and workers, scientifically research and research-constructed works (SRRCW), corporate innovations; and state capital investments (budget surplus and not budget funds, external borrowings) directed to education, retraining of workers, SRRCW and infrastructure.
Foreign experience shows that such an internal source of investments as personal savings can be the ponderous factor of development. The last was actively utilized in those countries where the population by virtue of cultural, historical, religious peculiarities was economical: in Japan, in countries of Southern and Eastern Asia. The level of economies remains high there until now serving as a huge source for financial sector of the country, these facilities are invested in modernization of economy.
The known experts in economy industry persuade to the idea that in Ukraine there is not enough own savings for sufficient investing to the key factors of development. Therefore we should attract as many foreign investments as possible. But it’s necessary for this purpose to create favorable investment climate, provide proper regulator conditions for business which will come to the country. The Government should show political will to provide establishing and functioning of competitive markets of capital, labor power, knowledge and others of this kind where principles of transparent, honest competition will operate. Now Ukrainian economy remains monopolistic in many sectors in spite of market status.
One of the major questions in investments industry is “where to invest?” Active investing in trading or real estate will not help Ukraine to make economic прорив. Therefore the main priority in distribution of state resources, stimulation of internal private investments and bringing of foreign facilities should become building of knowledge economy which is already formed in developed countries and provides their innovative competitiveness. Exactly this will enable to accumulate intellectual potential still present in Ukraine.
Clear strategy for 10-15 years which would be based on technological foreseen, prognostication of what can be actually through years, in what it’s necessary to invest now: in skilled labor power, high-quality professional-technical preparation, science and so on is needed. And this strategy should be a product not of the government but of the whole society, result of its uniting around pragmatic idea. Then the direction of the concerted work of all segments of society: power, business, public, education, science, culture will not change with coming of every new government.
George Poluneev, Head of the Counsel of Ukraine competitiveness, president of the International institute of management: “Ukraine needs investments in the economy of knowledges”
