order to create new jobs" through the implementation of explanatory and consultative 
work by regional and city state administrations with food processing enterprises of the 
regions of Ukraine. 

 

Figure 4. Strategic directions of reforming the system of financial provision  

of the regions 

 
2. Creation of a platform for the development of integration processes in the 

industry in order to include enterprises in closed production cycles, for which it is 
expedient: 

-  develop the use of subcontinental schemes of cooperation by providing large 

corporations with a state order only subject to the placement of orders for the 
production of a specified proportion of raw materials or semi-finished products at small 
enterprises of the industry; 

- determine at the legislative level the legal and economic principles of the 

development of clusters and franchising in Ukraine. Provide state support for the 
creation and functioning of these forms of cooperation in the food sector, with the 
participation of small and medium-sized enterprises in the sector and the creation of a 
new high quality and safety product for the market; 

Strategic directions of reforming the system of financial provision of the regions 

Formation of a favorable investment environment in the regions and 

providing investment resources of the regions of Ukraine. 

 

Strengthening the financial adequacy of local budgets by expanding the list 

of local taxes and fees, changing the principles of financing the powers of 

local authorities and the system for calculating intergovernmental transfers. 
 

Reduction of the role of the subjective factor in the distribution of 

subventions for social and economic development from the State Budget 

through the introduction of formalized parameters for the provision of 

investment subventions. 

 

Transformation of the State Fund for Regional Development of Ukraine 

into a real instrument for financing capital expenditures that can give a 

potential long-term effect. 

 

Extension of the list of city councils that have the right to issue municipal 

securities; attraction of population's savings to the turnover in the financial 

sphere and their transformation into credit and investment resources. 

Involvement of projects in the framework of international cooperation in as 

many regions as possible. 

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