INTERNATIONALIZATION OF THE CONSTRUCTION INDUSTRY OF UKRAINE: CURRENT STATE AND PROSPECTS
Abstract
The article examines the dynamics of internationalization of the construction industry of Ukraine over the past decade. The reasons for the poor representation of domestic companies in the world market are revealed, the priority directions of the European integration policy for the construction market are substantiated. The dynamics of capital investment due to foreign residents and other key indicators of internationalization of the construction industry, such as exports, imports, the amount of foreign direct investment in the construction industry and foreign trade turnover in construction are analyzed. The results of calculations of the author's index of internationalization of the construction industry are presented. It shows that despite steady growth until 2013 and falling after political events in Ukraine, the situation stabilized briefly in 2016, followed by a sharp decline that continues to this day due to a number of global events such as the semiconductor crisis and the COVID-19 pandemic. It is determined that in order to improve the situation in the industry, it is necessary to direct state policy to increase the qualitative and quantitative levels of export potential. Particular attention should be paid to the development of promising global niches in construction, starting with production technology, where you need to focus on sustainable construction, or using software, blockchain technology, the Internet of Things both on and off the construction site, as well as obvious future benefits of investing in drone and robotics technology to do more routine or hazardous work and protect workers from potential risks, and to make full use of high-tech construction technologies and attract foreign investment to re-equip and implement innovative solutions in construction companies. The key factors influencing foreign direct investment and exports in the construction industry are identified, the projection of results as key indicators on which the comprehensive indicator of internationalization of the construction industry depends, allowed to reasonably identify indicators that most affect the index.
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