Висвітлення сучасних питань соціально-економічного розвитку національної та регіональної економіки
Національний університет "Полтавська політехніка імені Юрія Кондратюка"
The security dimension of dominant trends in the digital transformation of the economy
The accelerating pace of digital transformation has fundamentally reshaped the contours of modern economic development, giving rise to both unprecedented opportunities and complex state economic security challenges. This article addresses the multifaceted relationship between dominant digitalization trends and state economic security, with particular emphasis on the structural imbalances and vulnerabilities that emerge in the course of uneven technological adoption. The central problem concerns the dual nature of digital transformation: while enhancing productivity, competitiveness, and public service delivery, it simultaneously generates digital divides and systemic imbalances that undermine national economic resilience. The study examines the positive effects of digitalization across sectoral dimensions of the national economy, identifying areas where digital technologies have generated measurable gains in efficiency and economic output. Special attention is devoted to artificial intelligence as the dominant trend of contemporary digitalization. The article systematizes the advantages and risks associated with AI adoption, offering a structured analysis of its transformative potential alongside the barriers that currently impede its widespread implementation by Ukrainian enterprises. These barriers encompass infrastructural deficiencies, insufficient digital competencies of the workforce, limited access to financing, and the absence of comprehensive regulatory frameworks governing AI deployment in the business environment. The article identifies major threats to state economic security within the digital environment. Among the most significant are the displacement of workers employed in routine occupations due to automation, the escalating sophistication and frequency of cybercrime, and the growing technological dependence on foreign digital platforms and infrastructure. These threats are considered not in isolation but as interconnected elements of a broader systemic risk landscape that demands a coordinated policy response. The article substantiates the necessity of supplementing existing state economic security indicators with digital metrics as a foundation for developing effective digital development policy mechanisms. A central contribution of this research lies in characterizing the paradigm shift within the conceptual framework of state economic security, establishing that its provision must be reconfigured around the imperatives of technological sovereignty and the cyber protection of critical infrastructure. The findings underscore the urgency of embedding digital security considerations into the strategic architecture of national economic policy.
ECONOMIC SECURITY OF THE STATE AND ECONOMIC ENTITIES
Copyright (c) 2026 Олександра Маслій, Олександр Науменко https://creativecommons.org/licenses/by/4.0
Banking ecosystems as a result of digital transformation: theoretical and methodological foundations of formation and development
The article examines the theoretical and methodological foundations of the formation and development of banking ecosystems as a result of the digital transformation of the financial sector. It is substantiated that the ecosystem model is a logical stage in the evolution of banking activities in the context of the spread of platform technologies, the integration of financial and non-financial services, and the growing role of data as a strategic resource. The genesis of the concept of “ecosystem” in economic discourse is analyzed, and its transformation from a metaphorical approach to an institutionally and technologically structured model of business organization is revealed. It has been determined that the digitalization of the banking sector contributes to the transition from a product-oriented model to a customer-centric interaction platform. It is emphasized that technological integration and the networked nature of interaction between participants ensure the formation of a new architecture of competitive advantages. The content of the category “banking ecosystem” has been clarified as an integrated digital platform that provides omnichannel access to complex products, combines banking operations, services, and partner services, and forms a new logic for creating value. Scientific approaches to interpreting the ecosystem model in the banking sector have been systematized, particularly in the context of the development of FinTech, artificial intelligence, blockchain solutions, and neobanking. It has been proven that in the context of digitalization, banking products are becoming an intermediate element of a broader ecosystem offering, within which information and technology infrastructure, customer data, and platform integration mechanisms play a key role. The impact of IT investments and digital integration on the profitability, competitiveness, and financial resilience of banks is substantiated. The features of the organizational structure of banking ecosystems are outlined, including the centralization of settlements, control of information flows, ensuring cybersecurity, and coordination of partner interaction. It has been determined that the lack of a universal regulatory approach to banking ecosystems necessitates the further development of methodological principles for their assessment and regulatory support.
Copyright (c) 2026 Юлія Тимошенко https://creativecommons.org/licenses/by/4.0
Mechanisms of public management of strategic investment development of territorial communities and regions: domestic experience and European guidelines
The article conducts a comprehensive study of theoretical, methodological and practical aspects of public management of strategic investment development of territories in conditions of systemic challenges and martial law. Investment development is considered not as a purely quantitative increase in capital investments, but as a qualitative transformation of the economic potential of communities, based on structural modernization and increasing global competitiveness. The classification of instruments for stimulating investment activity is detailed. Particular attention is paid to the transformation of the role of local governments from passive observers to active market actors - service hubs. The example of Lviv and Transcarpathian regions proves that the exogenous shock caused by a full-scale war and business relocation, provided competent public administration, can become a catalyst for economic growth. It is found that the creation of industrial parks and logistics hubs (multimodal terminals) allowed these regions not only to absorb the relocated assets, but also to form new industrial clusters with high added value. A comparative analysis of successful European models (Poland, Estonia, Germany and the Czech Republic) was conducted, on the basis of which key guidelines for Ukraine were identified: the introduction of smart specialization, multi-level governance and ESG principles in municipal management. The need to transition to a proactive service management model based on the principle of "Investment Concierge Service", which provides for full administrative support for the investor, was substantiated. The conclusion was formulated that the synergy of digital solutions (DREAM system), innovative forms of public-private partnership and high competence of public servants is a fundamental condition for the implementation of the Build Back Better strategy and the successful convergence of the Ukrainian investment space with European standards.
Copyright (c) 2026 Світлана Колонтай, Катерина Смірнова, Альбіна Розмарина https://creativecommons.org/licenses/by/4.0
Mechanisms for financing infrastructural development in Ukraine under conditions of post-war economic transformation
The article is devoted to the study of mechanisms for financing infrastructural development in Ukraine under conditions of post-war economic transformation. The relevance of the topic is determined by the large-scale destruction of transport, energy, logistics, and social infrastructure caused by the full-scale war, as well as the need to develop an effective system of financial support for its recovery and modernization. Infrastructure reconstruction is considered as one of the key factors of economic growth, enhancement of the competitiveness of the national economy, and integration of Ukraine into the European economic space. The aim of the study is to substantiate modern mechanisms for financing infrastructure projects in the process of post-war economic recovery of Ukraine. The research is based on a combination of general scientific and special methods, including a системний approach, comparative and institutional analysis, as well as methods of economic generalization and structural analysis. The main sources of financing infrastructural development are analyzed, including state budget resources, international financial assistance, funds of international financial institutions, public-private partnership mechanisms, project financing, infrastructure bonds, and private sector investments. It is established that effective infrastructure recovery requires diversification of funding sources, strengthening the institutional capacity of the state in implementing infrastructure projects, and developing transparent mechanisms for investment management. The expediency of more active use of public-private partnership instruments, financial guarantees of international organizations, and innovative financial instruments for attracting long-term capital is substantiated. Particular attention is paid to the role of international financial support in the process of infrastructure recovery in Ukraine, including the participation of the European Union, the World Bank, the European Bank for Reconstruction and Development, and other international donor institutions. The importance of coordination between public policy, international assistance, and private investment is emphasized in order to form an effective financing model for infrastructure reconstruction that will enhance the resilience of the national economy and create conditions for its long-term development. The practical significance of the study lies in the development of recommendations for improving the system of financing infrastructural development in Ukraine, which will contribute to the effective implementation of post-war recovery programs and ensure sustainable economic growth.
Copyright (c) 2026 Святослав Гринчишин, Віктор Русін https://creativecommons.org/licenses/by/4.0
Implementation of smart contracts in infrastructure investment projects
The article substantiates the feasibility of using smart contracts as a tool for digitalizing investment processes in infrastructure projects. It is shown that contemporary literature in finance, digital assets, and project management increasingly considers blockchain and smart contracts not as isolated information technologies, but as elements of a new financial infrastructure capable of reducing transaction costs, minimizing information asymmetry, enhancing transparency of settlements, and forming new models of capital mobilization. The purpose of the study is to develop methodological provisions for the implementation of smart contracts in infrastructure investments at the intersection of project finance, asset tokenization, digital monitoring, and automated execution of contractual obligations. As a result, a five-contour model for the implementation of smart contracts in infrastructure project financing is substantiated, which includes the investment contour, the contractual-logical contour, the data and oracles contour, the settlement and payment contour, and the regulatory and legal support contour. It is proved that the greatest effect of smart contracts is achieved in the areas of automating milestone payments, issuance and circulation of tokenized claims or project debt instruments, monitoring the targeted use of funds, supervision in public-private partnership projects, as well as in minimizing disputes regarding the fulfillment of contractual conditions. The scientific novelty lies in the formation of a methodological approach according to which a smart contract is not equated with a complete replacement of a traditional contract, but is considered as a hybrid digital module of financial infrastructure that encodes standardized and verifiable parts of an investment agreement. The practical significance of the results lies in the possibility of their application by public authorities, concession grantors, development banks, institutional investors, and project companies in building digital financial ecosystems for infrastructure investments.
Copyright (c) 2026 Світлана Кузнецова https://creativecommons.org/licenses/by/4.0
GREEN management policy in the context of social responsibility of local government
The article examines the theoretical and practical aspects of forming GREEN management policy in local self-government bodies within the context of social responsibility. The aim of the study is to systematically summarise theoretical approaches and develop practical recommendations for the implementation of GREEN management policies at the local level, taking into account the principles of openness, accountability and efficiency. It is argued that local authorities act not only as administrative bodies but as active agents of change, capable of integrating environmental, economic and social priorities into the practice of public administration. The main focus is on establishing the conceptual foundations of GREEN management policy as a systematic and integrated tool for combining the environmental, social and governance components of local community development. The essence of GREEN management is defined as a factor in enhancing the environmental efficiency of governance processes and fostering an environmentally oriented governance culture. The necessity of transitioning to a management model based on the principles of sustainable development, rational use of resources and the fostering of environmentally responsible behaviour among both public officials and the community population is demonstrated. The features of the local government management system and the potential for using digital tools to enhance the transparency of governance have been analysed. The study has resulted in a comprehensive vision of the structure of GREEN management policy, identified its key elements and implementation directions, and justified the feasibility of introducing a separate waste collection system as an important tool of the community’s environmental policy. The summarised results confirm that the implementation of environmentally oriented management approaches contributes to improving the quality of public administration, strengthening trust in local authorities, and ensuring long-term socio-economic benefits for the development of local communities.
Copyright (c) 2026 Тетяна Харченко https://creativecommons.org/licenses/by/4.0
Public policy instruments in the field of medical services for overcoming crisis demographic phenomena
The essence of the demographic crisis is examined as a set of persistent negative changes in population reproduction manifested in declining birth rates, increasing mortality, intensified migration outflows, deformation of the age structure, and growing demographic pressure on the working-age population. It is highlighted that the aggravation of demographic problems is associated not only with the consequences of war, but also with harmful working conditions, road traffic injuries, the prevalence of behavioral risk factors, low living standards, poverty, as well as difficulties related to the accessibility and quality of medical care, especially in rural areas. The interrelation between demographic processes and the population’s need for medical services is substantiated, which is manifested in the influence of age structure, mortality, fertility, migration processes, and spatial distribution of the population on the volume, structure, and organization of medical care. It is determined that public policy instruments in the field of medical services should be considered as an interconnected system of legal, organizational, financial, informational, and human resource means through which the accessibility, quality, continuity, and effectiveness of medical care for the population are ensured. The content of regulatory and legal instruments that shape the framework of state guarantees, the powers of stakeholders, the rules for organizing care, and the legal grounds for exercising the right to medical care is disclosed. Organizational and managerial instruments related to planning the network of providers, forming patient pathways, contracting healthcare institutions, managing medical service packages, and monitoring compliance with service delivery requirements are characterized. The importance of financial and economic instruments, which determine the actual capacity of the medical services system, reduce barriers to access, and influence the timeliness of patients’ access, is established. The role of information and communication instruments related to healthcare digitalization, the functioning of the electronic healthcare system, e-prescriptions, referrals, and the analytical use of data is considered. The significance of human resource instruments covering training, distribution, retention, professional development, and qualification confirmation of medical personnel is shown. It is established that the highest effectiveness in overcoming crisis demographic phenomena is achieved through the combination of legal regulation, targeted financing, managerial coordination, and the targeted organization of services.
DEMOGRAPHY, LABOR ECONOMICS, SOCIAL ECONOMICS AND POLICIES
Copyright (c) 2026 Андрій Худий https://creativecommons.org/licenses/by/4.0
Specifics and features of ensuring digital security in a tourism enterprise
The article examines the specific nature and key features of ensuring digital security of a tourism enterprise under conditions of dynamic market transformations. An in-depth analysis is provided of the fundamental transformation in the role of digital security, which, in today’s context, has evolved from a highly specialised technical support function into a key determinant of the strategic resilience and competitiveness of entities within the tourism industry. It has been substantiated that in the context of the widespread digitization of industry processes, digital security serves as the foundation for building reputational capital. It has been established that the specific nature of the tourism industry, which involves the handling of large volumes of customers’ personal and financial data, as well as a high degree of network interdependence with numerous market players – from airlines to payment systems, – leads to an exponential increase in the vulnerability of internal corporate IT infrastructure against cyber threats. The article scientifically substantiates the need to adopt a systematic approach to the development of digital security, integrating technical, managerial and human resources aspects of countermeasures. Particular attention has been devoted to the development of an algorithm for ensuring operational stability, which is based on the methodology of controlled restriction of secondary functions. Such an approach ensures that critical business processes remain intact even during periods of peak disruptive impacts. The algorithm involves the implementation of protocols for dynamic network segmentation, which enables the immediate localization of cyber incidents and prevents large-scale data exfiltration. It has been proven that the integration of target time metrics and recovery points into an overall security strategy minimises the risk of a cascading accumulation of unfulfilled obligations towards stakeholders. The final phase of the proposed algorithm, which includes post-incident analysis and crisis communications, makes it possible not only to effectively mitigate reputational damage, but also to ensure the continuous, adaptive evolution of the organisation’s information ecosystem in response to new types of targeted attacks. This creates a solid foundation for ensuring unwavering consumer confidence and safeguarding the legal legitimacy of the tourism industry in the long term, transforming the safety system into an active tool for sustainable development in the context of global digitalization.
Copyright (c) 2026 Раїса Кожухівська, Юрій Массель https://creativecommons.org/licenses/by/4.0
Risk management of enterprise relocation under the transformation of organized commodity markets
The article examines the problem of risk management in the process of enterprise relocation under conditions of structural transformation of organized commodity markets. The relevance of the study is determined by the fact that business relocation is no longer limited to the physical transfer of production facilities or changes in territorial location. It is accompanied by financial, institutional, infrastructural, personnel, informational, and market-related challenges that affect business stability and require new approaches to economic security management. In this context, particular importance is attached to the transformation of organized commodity markets and the need for enterprises to adapt to new regulatory and competitive conditions. The purpose of the article is to deepen the theoretical understanding of enterprise relocation risk management and to identify the key mechanisms for strengthening the economic security of relocated businesses in a changing market environment. The study summarizes the main relocation risk factors and substantiates the need to consider them as an interconnected system. Special attention is paid to the influence of institutional changes in organized commodity markets on enterprise activity and to the growing importance of price risk management under high market volatility. The paper argues that the economic security of relocated enterprises should be based on an integrated approach combining financial, organizational, technological, legal, and personnel-related instruments. In this regard, hedging is considered as an important mechanism for reducing price uncertainty and stabilizing expected financial results. The role of adaptive managerial decisions, digital transformation, and financial diagnostics in maintaining enterprise resilience is also emphasized. As a result, the key groups of relocation risks are summarized, the impact of organized commodity market transformation on business adaptation is characterized, and an organizational and economic approach to the formation of the security system of relocated enterprises is proposed.
Copyright (c) 2026 Валентина Лаврененко, Євгеній Нестеренко https://creativecommons.org/licenses/by/4.0
Prospects for Ukraine’s integration into international logistics chains and efficient management of logistics flows
Ukraine’s integration into international logistics chains and the efficient management of logistics flows are becoming increasingly important under conditions of global economic transformation, digitalization, and growing competition in international markets. The article analyzes current trends and challenges in the development of Ukraine’s logistics system, particularly the impact of digital technologies, innovative information platforms, and intelligent management systems on the optimization of logistics processes. Special attention is paid to the role of multimodal transport corridors, digital monitoring tools, and modern analytical approaches in improving the efficiency, transparency, and sustainability of logistics operations. The study also identifies key barriers related to infrastructure damage, limited digital integration, and geopolitical instability. Strategic directions for enhancing Ukraine’s integration into global supply chains and strengthening the resilience and competitiveness of the national logistics system are proposed.
WORLD ECONOMY AND INTERNATIONAL ECONOMIC RELATIONS
Copyright (c) 2026 Ірина Амеліна, Віктор Гришко https://creativecommons.org/licenses/by/4.0
Target audience segmentation and adaptation of communication channels in the IT industry
The article examines the theoretical and practical foundations of target audience segmentation and communication channel adaptation in accordance with the specific features of the IT industry. It is substantiated that traditional segmentation approaches based mainly on demographic and geographic criteria are insufficient for the high-tech B2B environment, where purchasing decisions are made collectively and sales cycles are complex and lengthy. Modern scientific approaches to behavioral, omnichannel, and AI-driven customer segmentation are analyzed. A multi-criteria segmentation model for IT companies is proposed, incorporating firmographic, technographic, behavioral factors, and decision-making structures. Five key target audience segments for IT companies are identified: technical specialists, business executives, end users, IT partners and integrators, as well as IT communities and thought leaders. Priority communication channels and relevant content formats are determined for each segment. A step-by-step approach to building an integrated communication strategy is developed, including data collection, dynamic segmentation, content personalization, omnichannel implementation, and continuous performance optimization. It is proven that the use of artificial intelligence, CRM systems, marketing automation, and big data analytics creates broad opportunities to improve marketing communication efficiency, enhance customer engagement, and increase customer lifetime value. The practical significance of the study lies in the possibility of applying the proposed model by Ukrainian and international IT companies to strengthen their competitive positions, improve market responsiveness, achieve sustainable growth, and expand strategic opportunities in the global market. The research findings contribute to the development of specialized marketing frameworks tailored to the unique structural characteristics of the IT industry. The proposed recommendations provide actionable guidance for aligning segmentation strategies with channel selection and content development in B2B technology markets, thereby bridging the gap between academic theory and industry practice.
Copyright (c) 2026 Віктор Богданов https://creativecommons.org/licenses/by/4.0
Excursions as a tool of social programming in tourism
This article conceptualizes excursions as a tool of social programming that shapes tourists’ knowledge, values, normative perceptions, and behavioural orientations. Drawing on social constructionism, the Theory of Planned Behaviour, social learning theory, and interpretive approaches in tourism studies, it examines the mechanisms through which excursions influence tourist behaviour and destination development. The findings indicate that excursions function as structured guided experiences in which interpretive narratives, symbolic coding of space, group interaction, and participation scripting shape socially legitimized patterns of perception and behaviour. The article proposes a typology of social programming within excursion experience, encompassing normative, behavioural, cognitive, emotional, symbolic, ritual, and discursive forms of influence. It also adapts a five-stage sequence of social-programming influence to the excursion context, spanning cognitive framing, emotional engagement, value internalization, behavioural intention, and sustained post-tour impact. The study demonstrates that excursions may serve as a mechanism of soft social influence and offers practical implications for designing excursion products that foster responsible tourist behaviour, strengthen local cultural identity, enhance community participation, and support sustainable destination development.
Productive forces development and regional economy
Copyright (c) 2026 Катерина Вовк https://creativecommons.org/licenses/by/4.0
Investment attractiveness of territorial communities as a factor in the development of small businesses in the context of financial decentralization
The article is devoted to the study of the investment attractiveness of territorial communities in the context of financial decentralization and the institutional capacity of local governments of Ukraine to stimulate the development of small businesses as a key factor in the sustainability of local economic systems. The article proves that after the deepening of fiscal decentralization, the investment attractiveness of communities has acquired a new meaning and began to be considered not only as a derivative of the resource base, but primarily as a function of the quality of local public management. It was established that in 2025, UAH 514 billion was received to the general fund of local budgets, which is UAH 63 billion more than in 2024, and the growth rate amounted to 14%, indicating the preservation of the financial capacity of communities to influence local development even under conditions of a wartime economy. At the same time, it is shown that the increase in revenues in itself does not automatically lead to higher investment attractiveness if financial resources are not transformed into effective mechanisms for reducing local business risks. A detailed analysis of small business confirmed its system-forming role in the local economy. Based on the dynamics of individual entrepreneurs, it is substantiated that the small business sector in Ukraine has not only been preserved but has also demonstrated a recovery trajectory, which makes it possible to interpret the number of sole proprietors as an indicator of entrepreneurial activity of the population, the adaptability of the business environment, and the potential for expanding the local tax base. Another important result of the study is the identification of a direct relationship between entrepreneurial activity and the financial capacity of territorial communities. It is shown that only 34.3% of communities have a high level of financial capacity, while 26.2% are in the zone of low or critical levels. This made it possible to conclude that investment attractiveness is formed under conditions of significant territorial differentiation and, therefore, cannot be supported by universal instruments. The most significant result of the study is the development of a differentiated approach to supporting small business depending on the level of financial capacity of territorial communities.
ECONOMICS AND NATIONAL ECONOMY MANAGEMENT
Copyright (c) 2026 Ольга Соколова, Світлана Дяченко https://creativecommons.org/licenses/by/4.0
Theoretical, methodological, and institutional foundations for the formation and implementation of state regional policy under conditions of socio-economic transformations
The article presents a comprehensive analysis of the theoretical, methodological, and institutional foundations of the formation and implementation of state regional policy under conditions of socio-economic transformations. It is substantiated that state regional policy serves as a key instrument of public governance aimed at ensuring balanced spatial development, reducing interregional disparities, and improving the efficiency of regional socio-economic potential utilization. In the context of globalization, structural economic changes, and increasing regional asymmetries, the importance of effective regional policy is significantly increasing. The study emphasizes the crucial role of the institutional environment in shaping policy effectiveness. It is demonstrated that policy outcomes depend on the level of institutional development, the coherence of interactions between different levels of public authority, and the efficiency of multilevel governance mechanisms. The principles of decentralization and subsidiarity are further developed as essential elements of modern regional policy, enabling more flexible and responsive decision-making aligned with the needs of territorial communities. The paper advances the principles of balance and adaptability, which enhance the capacity of governance systems to respond to dynamic socio-economic changes and external challenges, thereby strengthening the resilience of regional development. A combined model of state regional policy is substantiated, integrating centralized strategic coordination with decentralized implementation to ensure a balance between national policy coherence and regional autonomy. A comprehensive framework for regional policy formation is proposed, incorporating economic, social, environmental, and institutional dimensions. This approach supports the development of integrated policy solutions aimed at improving regional competitiveness, promoting sustainable development, and enhancing the quality of life. Key constraints to policy implementation are identified, including uneven institutional capacity, limited financial resources, and insufficient digitalization of public administration. The practical significance of the research lies in its applicability to improving governance mechanisms, strengthening strategic planning, and supporting the development of territorial strategies in the context of European integration and post-war recovery.
Copyright (c) 2026 Ілона Бабух, Софія Федишин https://creativecommons.org/licenses/by/4.0
State regulation of the economy in ensuring food security: analysis of public policy and social economy instruments in Ukraine
The article examines the problem of developing an effective public policy framework aimed at ensuring food security under conditions of socio-economic transformation and wartime challenges. The study emphasizes the necessity of rethinking the role of state regulation of the economy as a systemic mechanism for achieving food resilience and social stability. Particular attention is paid to the integration of social economy instruments into public policy, which serve as a key tool for ensuring food accessibility for vulnerable population groups. The research highlights the importance of combining economic regulatory instruments with social support mechanisms in order to address structural imbalances within the food system. It argues that traditional approaches to food security policy, focused primarily on production and market regulation, are insufficient in the context of increasing social inequality and external shocks. Instead, a comprehensive governance model is required, which incorporates institutional coordination, adaptive regulatory mechanisms, and targeted social programs. The paper also explores the impact of wartime conditions on the functioning of the food system, including disruptions in supply chains, infrastructure damage, and increased social vulnerability. In this context, the state assumes a dual role as both regulator and guarantor of food security, requiring enhanced institutional capacity and policy flexibility. The study identifies key directions for improving public policy, including strengthening institutional frameworks, enhancing coordination between public authorities, expanding social support programs, and adopting international best practices adapted to national conditions. The scientific contribution of the article lies in substantiating an integrated approach to state regulation of food security, which combines economic and social policy instruments into a unified system. The practical significance of the findings is reflected in their applicability to the development of national strategies and public administration mechanisms aimed at ensuring sustainable food security in Ukraine, particularly in the context of wartime and post-war recovery.
Copyright (c) 2026 Андрій Шинькович https://creativecommons.org/licenses/by/4.0
Systemic approach in the study of environmental constraints on the socio-economic development of the region
The paper provides a theoretical justification for the application of a systemic approach to the analysis of socio-economic development of Ukrainian regions with particular emphasis on ecological constraints. The systemic approach is shown to be a comprehensive analytical tool that integrates economic, social, spatial, and institutional subsystems, enabling long-term modeling of development scenarios and strategic planning of territorial growth. Ecological constraints are identified as a systemic factor that determines the boundaries and conditions of sustainable regional development. The study classifies ecological constraints into four main categories: resource limitations, ecosystem restrictions, regulatory and legal constraints, and natural-climatic challenges. Their impact is analyzed across different dimensions of the regional system: in the economic sphere they reduce resource availability and increase production costs while stimulating modernization and innovation; in the social sphere they affect quality of life, public health, and demographic dynamics; in the spatial dimension they shape land use patterns and industrial location decisions; in the institutional sphere they drive regulatory reforms and the development of green economy policies. The research demonstrates that ecological constraints do not operate in isolation but interact with other subsystems, transforming key parameters of regional development. The proposed systemic model of regional growth highlights the necessity of integrating ecological factors into all levels of regional policy and governance. Such integration is essential for balancing economic efficiency with environmental sustainability, reducing risks of ecological degradation, and enhancing the long-term competitiveness and resilience of Ukrainian regions in the context of contemporary global challenges.
Copyright (c) 2026 Володимир Ковалишин https://creativecommons.org/licenses/by/4.0
Digitalization of the energy sector: cyber risks, vulnerabilities of smart grids and mechanisms to protect the energy security of the state
It is argued that the common concept underlying most definitions of energy security is the absence of, protection from, or adaptability to threats that arise from or affect the energy supply chain. The relevant types of threats change along with the change of systems. The article examines the impact of digitalization of the energy sector and cyber threats on energy security. The growing use of information technologies in the energy sector, including energy networks, oil and gas pipelines, and other critical infrastructure, has made this sector more vulnerable to cyber attacks. The differences of smart energy networks are highlighted and cybersecurity threats to the energy sector are summarized. Cyberterrorism poses a significant risk to the energy sector and requires careful attention and management to ensure the safe and reliable operation of energy infrastructure. The article provides an overview of cyber threats. The energy sector faces cybersecurity risks caused by both syntactic and semantic attacks. But, on the other hand, thanks to digitalization, the system efficiency and resilience to traditional persistent threats and threats of technical failures are increased. The potential consequences and economic impact of cyberattacks on the energy sector are considered, which can lead to financial losses, environmental damage and even human deaths. Cyberattacks on the energy sector can also have a cascading effect on other sectors, as the energy sector plays a crucial role in the economies of many countries. Cybersecurity precautions and defense mechanisms are summarized, covering people, software, physical infrastructure and architecture of the energy system. Ensuring energy security requires that the energy sector remain vigilant in the face of evolving cyber threats and continue to develop and implement effective risk management strategies to protect against cyberterrorism.
Copyright (c) 2026 Ірина Чичкало-Кондрацька https://creativecommons.org/licenses/by/4.0
Public administration mechanisms for ensuring the digital sovereignty of the state under martial law
The article examines the public administration mechanisms for ensuring the digital sovereignty of the state under martial law, using Ukraine as a case study. The relevance of the study is determined by the fact that digital sovereignty in wartime conditions is not merely a technical or legal category, but a fundamental prerequisite for the institutional survival of the state. Ukraine's experience during 2022–2025 demonstrated that the ability of public authorities to function amid large-scale cyberattacks, destruction of physical infrastructure, and occupation of territories has become a matter of preserving statehood itself. The authors substantiate an original definition of digital sovereignty as the state's ability, through a system of public administration mechanisms, to maintain control over its own digital infrastructure, information flows, and technological environment, while preserving institutional capacity for independent management decisions in the digital sphere. This definition, unlike existing approaches, emphasizes the managerial dimension of sovereignty rather than its technical or legal aspects. The article also draws a clear distinction between digital sovereignty and related concepts such as information sovereignty and cybersecurity, establishing digital sovereignty as a broader category that encompasses both. Four key challenges to Ukraine's digital sovereignty under martial law are identified: large-scale cyberattacks on critical infrastructure, technological dependence on foreign cloud providers – whose share of the Ukrainian market reaches approximately 75% - institutional ambiguity of functions between the Ministry of Digital Transformation, the State Service of Special Communications, and the National Security and Defence Council, as well as significant gaps in the regulatory framework, including the absence of a legal definition of data residency. A comprehensive model of public administration mechanisms is proposed, encompassing four interrelated components – institutional, legal, organizational, and international mechanisms – unified by the strategic coordination of the National Security and Defence Council. The institutional mechanism establishes a three-tier hierarchy of subjects: strategic, operational, and technical levels. The organizational mechanism incorporates wartime-specific instruments such as cloud data evacuation, the IT Army, and the cyber reserve. The international mechanism is characterized as dual in nature, simultaneously strengthening the state's technological capacity and deepening its dependence on foreign platforms. It is established that the effectiveness of each mechanism depends on its coherence with other elements of the system, and that the absence of such coherence represents the core problem of public administration of digital sovereignty in Ukraine. Promising directions for further research include developing evaluation criteria for the proposed mechanisms, the legislative definition of data residency, and the establishment of a unified coordination body in the field of digital sovereignty.
Copyright (c) 2026 Олена Казанська, Вікторія Хороших, Інна Аракелова https://creativecommons.org/licenses/by/4.0
Strategies for optimizing risks affecting sources of financing of construction industry enterprises
It is impossible to improve management without studying, systematizing and generalizing the experience of developing public relations in both the economy and the construction sector. Optimization of risks affecting the financial resources of enterprises in the construction industry is carried out through early identification of risks, diversification of financial sources and flexible planning. Effective management taking into account interest rates, inflation and market changes increases the stability and financial sustainability of projects. Taking into account the above, the article considers the features of investment projects in the construction industry, classifies the risks associated with the implementation of construction projects, and also analyzes such issues as risk reduction strategies and optimization of the financial and economic activities of the enterprise.
Copyright (c) 2026 Башар Хабіб Ширинов https://creativecommons.org/licenses/by/4.0
Directions for improving the capital management policy of enterprises
The current state of development of the economic system, complex operating conditions determine the need to find methods for optimizing capital management to increase the overall efficiency of activities, minimize costs and develop economic interaction between business entities. Today, enterprises are forced to change the forms of their own activities, adapting to significant risks, seek methods for optimizing their own activities, ensuring the stability of production processes, trying to maintain an acceptable level of profitability. Working in difficult conditions, companies try to maintain solvency and financial stability. The article analyzes the problem of the efficiency of capital management of enterprises, identifies the main approaches to assessing the effectiveness of the production factor management system. Considerable attention is paid to the problems of forming an optimal and functional capital structure, assessing the turnover of financial and material resources, finding opportunities to ensure sustainable economic growth of business entities, ways to achieve financial stability, solvency, and the optimal level of asset liquidity. The features of the processes of capital formation of companies under conditions of uncertainty, methods for ensuring the stability of economic processes are identified. The main factors that hinder the development of business entities are outlined. The need to use information technologies to ensure optimal forms of planning, analysis and control over business operations is substantiated. It is noted that there is a need to improve the forms of interaction of economic entities to ensure the optimal level of financial protection, and to intensify economic cooperation. The factors that influence the efficiency of resource management processes, their formation, optimization of the asset structure, their profitability, forms of turnover, and directions for stabilizing companies' cash flows in order to increase profits are outlined. One of the main factors in optimizing the capital management system is the use of modern information technologies in planning, analysis and forecasting. Considerable attention is paid to the processes of ensuring the sustainability of economic development.
Copyright (c) 2026 Ігор Стефанів https://creativecommons.org/licenses/by/4.0
The impact of martial law on financial stability and bankruptcy risks of enterprises in Ukraine
This article examines the factors contributing to financial destabilisation and the distinctive features of Ukrainian business operations under conditions of full-scale military aggression. The author analyses macroeconomic challenges that have precipitated a sharp deterioration in business conditions, including the destruction of production and transport infrastructure, blockade of logistical routes, rapid inflation, and declining household purchasing power. Particular attention is devoted to emerging risk categories, notably energy-related and workforce-related vulnerabilities. Special emphasis is placed on sector-specific financial risks. It is demonstrated that the trade, manufacturing, and construction sectors have experienced the most severe pressure, manifested in sharp declines in liquidity and elevated financial leverage. The paper explores business adaptation mechanisms to crisis conditions, including relocation processes, digital transformation of business models, and reorientation towards European export markets. A distinct focus is given to bankruptcy case dynamics. Despite an overall reduction in judicial proceedings during 2022–2023 due to constraints on court system functionality, 2024 has witnessed a rising trend in court rulings declaring entities bankrupt. This pattern indicates the accumulation of financial difficulties and the depletion of internal resilience reserves. The highest proportion of bankruptcies is concentrated in trade, manufacturing, and agriculture. It is substantiated that the adaptation of business models, initiated in 2023–2024, has partially stabilised the number of economic entities; however, risk levels remain elevated owing to inflationary pressures and limited access to credit facilities. The author argues for the necessity of systematic anti-crisis management grounded in the formation of liquidity reserves, mobilisation of international financial assistance, and implementation of innovative financial stabilisation models. A systemic approach to restoring solvency—combining innovative managerial solutions with active fiscal policy—constitutes a fundamental prerequisite for the long-term stability and competitiveness of the national economy in the post-war period. This article holds practical significance for developing business survival strategies amid prolonged military-political uncertainty.
Copyright (c) 2026 Людмила Свистун https://creativecommons.org/licenses/by/4.0
Determinants of property value and features of its valuation under conditions of full-scale war
The article establishes that existing theoretical and methodological approaches to property valuation do not correspond to the current conditions in Ukraine, which are characterized by a high level of uncertainty, destruction of active markets, limited or absent relevant market information, and significant risks associated with full-scale warfare. The lack of insurance coverage for war-related risks further increases uncertainty in value formation and necessitates the explicit incorporation of such risks into the valuation process. Under conditions of active hostilities, property is subject to damage and destruction, which leads professional market participants to address two fundamentally different tasks regulated by distinct legal frameworks and pursuing different objectives: market value estimation and compensation (damage) valuation. The study substantiates the need to adapt classical valuation approaches to the specifics of a crisis environment shaped by identified war-related risks. Particular emphasis is placed on the necessity of adjusting each of the classical approaches, comparative, cost, and income,by incorporating specific factors such as regional security conditions, demining requirements, relocation costs, infrastructure losses, and additional expenditures associated with wartime disruptions. It is concluded that the income approach, being the most sensitive to macroeconomic instability and risk factors, requires careful consideration of future income scenarios. In this regard, the application of sensitivity analysis and scenario analysis is recommended, with the development of alternative forecasts (pessimistic, baseline, and optimistic), each reflecting different levels of risk and uncertainty. To systematize the features of various valuation approaches, the article generalizes the differences between traditional methods and their modified versions under wartime instability. It is emphasized that, in order to enhance the reliability of valuation results under conditions of elevated risk, it is advisable to apply multiple approaches simultaneously and to synthesize the obtained results.
Copyright (c) 2026 Вікторія Макарович, Валерія Огородник, Оксана Чубарь https://creativecommons.org/licenses/by/4.0
Correlation analysis of the relationship between stock indices and macroeconomic indicators of Ukraine
The article examines the comprehensive empirical analysis of the structural and functional relationships between Ukraine’s key stock indices (UX, PFTS) and the country’s fundamental macroeconomic indicators – real GDP at 2014 prices, inflation, and FDI – for 2015-2024. In developed economies, the stock market serves as a "barometer" of economic health; however, the Ukrainian financial landscape is characterized by chronic illiquidity, a narrow base of institutional investors, and a limited number of blue-chip issuers. This creates a significant research gap regarding the predictive value of domestic stock indices for real economic shifts, especially during periods of geopolitical instability and systemic transformations. The primary objective of this research is to apply rigorous statistical methods, specifically correlation and regression analysis, to quantify the impact of Foreign Direct Investment (FDI) and the UX and PFTS indices on real GDP performance during the 2015–2024 period. The study employs Pearson correlation coefficients calculated on the first differences of time-series data (n=9) to ensure stationarity and avoid spurious correlations. The empirical findings indicate a robust and statistically significant positive correlation between real GDP growth and changes in Foreign Direct Investment (r = 0.79; p < 0.05), suggesting that external capital remains a primary driver of the national economy. In contrast, the Ukrainian stock market demonstrates a "market deafness" phenomenon: the correlation between the UX index and GDP growth is weak and statistically insignificant (r = 0.32). Regression modeling further confirms this disparity: the FDI-based model explains 62% of the variance in GDP (R² = 0.62), whereas the stock market model shows negligible predictive power (R² = 0.10; p = 0.40). The study concludes that the Ukrainian stock market currently fails to perform its classical signaling and allocative functions. The results emphasize the urgent need for institutional reforms and the introduction of new financial instruments to integrate the stock market into the post-war recovery strategy. These findings are valuable for policymakers and investors seeking to understand the transmission mechanisms between financial assets and the real sector in emerging markets.
Copyright (c) 2026 Юрій Липка https://creativecommons.org/licenses/by/4.0
Development of the institutional framework for ensuring financial inclusion in Ukraine
The article examines the institutional framework for financial inclusion in Ukraine and its evolutionary trajectory. The essence of financial inclusion as a determinant of sustainable development is defined, and its key components are identified. A comprehensive approach to institutional support is formed, encompassing formal, informal, and organizational dimensions. It is clarified that the effectiveness of financial inclusion depends on the coherence of regulatory mechanisms, behavioral factors, and institutional actors. The periodization of institutional development is established, reflecting the transition from foundational structures to a policy-oriented model. It is proven that consumer protection, digitalization, and financial literacy are critical drivers of inclusion. The role of trust and financial culture is substantiated. Prospective directions are outlined.
culture of financial services consumption
Copyright (c) 2026 Світлана Єгоричева https://creativecommons.org/licenses/by/4.0
Comparative analysis of the distribution of budgetary resources in the countries of Central and Eastern Europe and Ukraine
The article examines the distribution and use of budgetary resources across different levels of governments in post-socialist countries of Central and Eastern Europe and Ukraine. The relevance of the study derives from the need to assess fiscal decentralization models in the context of institutional transformation and current challenges, including those related to wartime conditions. The analysis focuses on the relationship between the institutional structure of subnational governance, the degree of fragmentation of local communities, and the patterns of budgetary resource allocation. Particular attention is given to the comparative assessment of revenue and expenditure structures, with an emphasis on ensuring cross-country comparability by excluding social security funds from the general government sector. The results indicate that most post-socialist countries have a centralized pattern of revenue formation combined with a relatively decentralized execution of public expenditures. This configuration gives rise to an asymmetry between the sources of financial resources and the responsibilities for their use. It is argued that this asymmetry represents a structural feature of intergovernmental relations and constrains the financial autonomy of local governments. The analysis also shows that more fragmented municipal systems are associated with higher levels of revenue centralization and stronger dependence on intergovernmental transfers, whereas larger territorial communities tend to provide a more stable basis for local fiscal capacity. In the case of Ukraine, a dual trend is observed. On the one hand, decentralization reforms have strengthened the financial capacity of local communities; on the other hand, wartime conditions have led to a temporary re-centralization of financial resources and an expanded role of the central government in financing priority expenditures. The findings may be used to improve the allocation of budgetary resources and to achieve a better alignment between revenue assignment and expenditure responsibilities, particularly in the context of post-war recovery.
Copyright (c) 2026 Роберт Бачо, Катерина Сочка, Оксана Перчі https://creativecommons.org/licenses/by/4.0
Peculiarities of organization and planning of enterprise production activity
The article summarizes the theoretical foundations of the organization and planning of enterprise production activity and substantiates their role in ensuring operational continuity, rational resource use, and stable economic performance. The study focuses on the internal logic of the production process and consistently characterizes its core, auxiliary, and servicing components. Special attention is paid to the relationship between technological, transport, and natural processes as elements of a single production system. The paper also outlines the primary organizational forms of production, with an emphasis on flow production as the most progressive form under conditions of stable demand, technological coordination, and a sufficient level of standardization. The author generalizes methodological approaches to determining the main parameters of a production line, including takt time, rhythm, and launch program, and highlights the importance of synchronizing operations in order to avoid downtime, bottlenecks, and unjustified losses of working time. Considerable attention is devoted to the duration of the production cycle and to the selection of sequential, parallel, or mixed movement of work items through operations. The article also examines the organizational role of equipment maintenance and repair, labor organization, workplace arrangement, labor standardization, remuneration systems, material and technical supply, inventory management, sales planning, cost calculation, and profit distribution. It is argued that effective production planning cannot be reduced to isolated calculations or fragmented managerial actions. On the contrary, it should be understood as an integrated management function that combines technological, labor, material, logistical, financial, and marketing decisions into a coherent system. The practical value of the study lies in the possibility of using the presented generalizations for teaching economic disciplines, for improving internal planning procedures at enterprises, and for substantiating managerial decisions aimed at increasing production efficiency, reducing losses, and strengthening enterprise competitiveness in a dynamic business environment.
Copyright (c) 2026 Людмила Чорна, Вадим Швед, Олена Омельченко, Ірина Плясецька https://creativecommons.org/licenses/by/4.0
Methodological aspects of diagnostics and analytical assessment of the effectiveness of the marketing strategy of a construction production enterprise
In the current turbulent economic realities of Ukraine, the issue of optimizing an enterprise's marketing policy has acquired strategic importance. Effective marketing management serves as the foundation for ensuring stable development and strengthening the market positions of business entities. The need to modernize marketing approaches is driven by several critical factors: the dynamism of the market environment, the rapid pace of technological progress, and the evolution of consumer preferences. In the B2B sector, particularly in the production of metal structures, the transition to digital communication channels and the adoption of sustainable development principles have become mandatory for maintaining competitiveness. This study employs a comprehensive set of analytical tools to assess the marketing strategy of the manufacturing enterprise LLC PCF "Prisma." The research methodology is based on a synthesis of classical and modern strategic management methods, including SWOT analysis for identifying internal potential and external threats, Michael Porter’s Five Forces model for assessing competitive pressure, and BCG matrix analysis for product portfolio optimization. Furthermore, a comparative benchmarking analysis was conducted against key competitors in the Poltava region and the national market of metal structures. Financial and marketing performance indicators (KPIs) for the period 2023–2025 were analyzed to evaluate the efficiency of resource allocation. The diagnostic assessment of LLC PCF "Prisma" revealed that despite a significant decrease in the share of metallurgy in Ukraine's GDP (from 15.6% in 2021 to approximately 6.9% in 2024–2025 due to the war), the metal structure manufacturing sector demonstrates resilience. The number of active industrial enterprises in this niche grew to 2014 units by 2024, indicating a high level of market fragmentation and intense competition. The financial analysis of "Prisma" showed an outsized increase in marketing expenditures (+69%) compared to revenue growth (+20.8%), which characterizes an active investment phase aimed at brand repositioning and entering new market niches. The SWOT analysis identified strong technical capabilities and a loyal B2B customer base as primary strengths, while a weak digital brand and insufficient automation of lead generation were highlighted as critical weaknesses. The study concludes that the current marketing strategy of LLC PCF "Prisma" requires systematic modernization. The proposed strategic shifts include the implementation of a comprehensive CRM system for better client lifecycle management, the adoption of a 4S marketing mix with an emphasis on "green" innovations and energy-efficient metal structures, and the enhancement of digital presence (SEO and LinkedIn marketing) to facilitate entry into European Union markets. The integration of AI-driven tools for analyzing international tender platforms is recommended as a way to scale the business. The practical significance of the results lies in the developed algorithm for diagnostic evaluation, which can be applied by other industrial enterprises to adapt their strategies to post-war recovery challenges.
Copyright (c) 2026 Ксенія Чичуліна https://creativecommons.org/licenses/by/4.0
Features of the role of marketing in the industry in the era of Industry 4.0
The article explores the transformation of the industrial sector under the influence of globalization and the rapid technological evolution driven by the rise of Industry 4.0. The primary purpose of the study is to define the role of marketing in the management system of industrial enterprises in the digital era, to analyze the impact of innovative technologies on marketing strategy formation, and to justify practical directions for their implementation to enhance competitiveness in both domestic and international markets. The research applies system-analytical and comparative approaches, along with methods of generalization, logical analysis, and synthesis. These tools made it possible to identify key trends in the development of industrial marketing, assess the degree of digital technology adoption – such as Artificial Intelligence (AI), Big Data analytics, the Internet of Things (IoT), and Customer Relationship Management (CRM) systems –and outline pathways for their further integration into marketing activities. The methodological framework is based on the dialectical relationship between technological innovation and strategic marketing adaptation. The study finds that the successful adaptation of industrial enterprises to the Industry 4.0 paradigm requires a comprehensive digital transformation of marketing activities. The implementation of digital marketing tools facilitates communication personalization, accelerates decision-making, enhances sales optimization, and improves overall management efficiency. The results demonstrate that innovative marketing solutions have become a key driver of productivity growth, customer experience enhancement, and global market expansion. Special attention is given to the role of big data analytics, customer-centric approaches, and flexible business models as critical components of industrial marketing transformation. The scientific contribution of this research lies in the systematization of conceptual approaches to digital marketing in the industrial context and the identification of marketing’s strategic role in Industry 4.0 as a factor of technological competitiveness. The study introduces a framework for integrating advanced digital tools into industrial marketing strategies, emphasizing their synergistic effect on production efficiency and value creation. The findings have significant practical relevance for industrial enterprises undergoing digital transformation. The study offers actionable recommendations for implementing modern marketing technologies, improving customer communication efficiency, and developing sustainable growth strategies within the framework of Industry 4.0. The results can be used to design digital marketing policies, optimize management processes, and strengthen the competitive position of enterprises in a rapidly changing global market.
Copyright (c) 2026 Кристина Тарасова, Дар’я Кравець, Каріна Ющенко https://creativecommons.org/licenses/by/4.0
The evolution of theoretical approaches to optimising the structure of funding sources in the context of the green transport transition
As theoretical approaches to optimising the structure of transport enterprises’ funding sources have evolved, a shift has become evident from classical models, which focus exclusively on minimising the cost of capital, towards modern concepts that take into account information asymmetries, agency conflicts, climate change risks and other environmental and social factors. This article examines the evolution of theoretical approaches to optimising the structure of funding sources for transport enterprises in the context of the green transport transition. It explores the shift from classical cost-of-capital minimization models to modern concepts that account for information asymmetries, climate change risks, and socio-environmental factors. Particular attention is paid to the concept of green and sustainable finance, which integrates elements of market failure theory, environmental economics, stakeholder theory and modern approaches to enterprise valuation. Based on an analysis of domestic and international research, the practical implementation of green finance through debt, equity and hybrid instruments is explored, and their role in the modernisation of transport infrastructure, electrification, the introduction of alternative energy sources and intelligent management systems is demonstrated. It is established that the concept of green and sustainable financing provides the transport sector with powerful tools for implementing green transformation, yet is accompanied by certain challenges, such as high initial investment, procedural burdens and dependence on regulatory decisions. The article concludes that there is a need to develop a modern theoretical and methodological framework that integrates financial efficiency, environmental responsibility, and social acceptability into models to optimize the structure of funding sources. Further research should focus on developing integrated approaches to assessing the impact of green finance on the transport sector, from both financial and environmental and social perspectives.
Copyright (c) 2026 Ярослава Назаренко https://creativecommons.org/licenses/by/4.0
Clustering in the system of strategic management of hotel business enterprises: theoretical and methodological principles
The article examines the theoretical and methodological principles of clustering as a tool for strategic management of hotel business enterprises in the context of increased competition and increasing requirements for the quality of tourist and hotel services. The essence of the concept of "hotel cluster" as an integrated association of hotel industry enterprises, related organizations and support institutions that interact with each other in order to increase the efficiency of activities, innovative development and the formation of sustainable competitive advantages is considered. The structural elements of the hotel cluster are determined, which include hotel enterprises, travel agencies, catering establishments, transport companies, educational and scientific institutions, local governments, as well as infrastructure and service organizations. The main approaches to the formation of cluster associations in the hospitality sector are analyzed, in particular, territorial, industry and network approaches, which allow ensuring effective coordination of the activities of participants and creating a synergistic effect. Specific features of clustering in the hotel industry compared to other sectors of the economy have been identified, including high dependence on tourist flows, seasonality of demand, a significant role of the service component, the need to coordinate service quality standards and the importance of developing tourism and recreational infrastructure. Methodological tools for assessing the effectiveness of cluster initiatives in the hotel business have been substantiated, which involves the use of a system of quantitative and qualitative indicators, in particular the level of occupancy of the room fund, the dynamics of tourist flows, the financial results of enterprises, the level of innovative activity and the degree of cooperation between cluster participants. Strategic directions for implementing cluster management models have been proposed, which include the development of partnership relations between hotel industry entities, the formation of a joint marketing policy, the improvement of infrastructure provision, the digitalization of management processes and the improvement of the quality of human resources.
Copyright (c) 2026 Артем Кожемяко https://creativecommons.org/licenses/by/4.0