Institutional components of the brand-oriented economy

Abstract

Background. The development of the national brand correlates with the development of the country, its economic condition and political system, cultural and social development, the level of national security, geostrategic priorities, and integ­ration aspirations. The rapid development of Ukraine as a full-fledged partner of international economic relations is manifested in strengthening its position in the world market of goods and services, actualizing the development of the national brand.
Analysis of recent research and publications has shown that despite the existence of some scientific achievements, an important scientific and practical problem of the institutional components of a brand-oriented economy remains unresolved.
The purpose of the article is to explore the areas of institutional support for the formation of brand-oriented economy of Ukraine, as well as on their basis to propose management decisions for further formation of a comprehensive system of state incentives for brand-oriented industries.
Materials and methods. The methods of scientific research were used: analysis, synthesis, comparison, grouping, generalization, statistical methods of estimation of dynamics and structure. The information base contains scientific publications of domestic scientists (monographs, scientific periodicals), regulations of Ukraine.
Results. The analysis of directions of institutional support of formation of brand-oriented economy of Ukraine is carried out. Based on the results of this study, a set of proposals was developed, in particular: introduction of simplified customs procedures for import for own use of production equipment that is not manufactured in Ukraine; creation on a voluntary basis at the expense of enterprises of funds to support export production; introduction of preferential lending for brand-oriented industries; creation of a system of specialized insurance companies; providing real assistance to industrial enterprises to save jobs through partial unemployment benefits, simplifying the mechanism for obtaining it; regulatory and legal support for confirmation of the fact of force majeure during the COVID-19 pandemic; creation of a system of protection of intellectual property rights, etc.
Conclusion. In the conditions of the whole complex of factors that determine the state and prospects of the domestic national brand, there is a need for urgent steps to further form a holistic system of measures of state stimulation of brand-oriented industries. This, on the one hand, will contribute to the effective overcoming of existing problems and obstacles in their financial and economic activities, on the other hand, will maximize the positive changes in the economy and foreign economic policy of Ukraine in the interests of national brand development. These provisions require further research on the mechanism of institutional support for the formation of a brand-oriented economy of Ukraine, which will determine the European and international mechanisms of state regulation of brand-oriented industries. The active position of the state in these issues, along with the effective use of existing competitive advantages in the policy of promoting brand-oriented production, will allow Ukraine to form a decent competitive national brand to ensure the balance of mutual interests in order to consistently strengthen Ukraine’s geoeconomic position.