ANALYSIS OF THE IMPACT OF LEGISLATIVE CHANGES ON THE INVESTMENT ATTRACTIVENESS AND EFFICIENCY OF IMPLEMENTATION OF CONSTRUCTION PROGRAMS IN UKRAINE

Abstract

The construction industry plays a key role in the economy of Ukraine, contributing to the development of infrastructure, job creation and investment attraction. However, the effectiveness of its functioning largely depends on regulatory and legal regulation, state support and financing mechanisms. The purpose of the study is to assess the impact of legislative changes on the investment attractiveness of the construction industry and the effectiveness of the implementation of construction programs in Ukraine, as well as to identify the main areas for improving state policy in this area. Research methodology. The work uses methods of comparative analysis of the regulatory framework, structural and functional analysis and expert assessment. An analysis of current legislation, international experience and prospects for the development of the construction industry in the context of the National Transport Strategy of Ukraine until 2030 was conducted. The scientific novelty of the study lies in the integrated approach to assessing legislative changes in the construction industry and their impact on the investment climate. Directions for improving state policy are proposed, in particular, simplification of permitting procedures, harmonization of legislation with European standards and the introduction of modern financial instruments, such as Tax Increment Financing (TIF). Conclusions. It was determined that the key challenges for the construction industry remain the instability of the legislative environment, insufficient digitalization of processes, the absence of a centralized database and limited implementation of BIM modeling. It is recommended to simplify permitting procedures, introduce digital construction management tools and expand alternative financing mechanisms. The proposed approaches will contribute to increasing the investment attractiveness of the construction sector, its competitiveness and integration into global economic processes.