Herasymchuk V. Strategy for Attracting Investments for the Development of Rural Areas in Ukraine.

The study of the characteristics of rural areas enabled the formation of a theoretical model of their development based on the principles of inclusivity and multifunctionality, ensuring the priority interests of stakeholders (communities, investors, the state), the effectiveness of which is determined by the use of economic potential, the activity and initiative of communities in rural innovations, and the influence of external and internal environments, contributing to their sustainable economic, social, and environmental development. An analysis of the constraints on rural development allowed for an expansion of the list of limiting factors considering new challenges and threats, such as low financial literacy among rural populations and communities; risks and challenges of wartime (occupation, mobilization, loss of enterprises, territories, infrastructure, landmines, etc.); limited resources in state support programs; and a shortage of workforce in rural areas, which will facilitate the search for solutions to overcome them. An analysis of the agricultural sector as the foundation for rural development demonstrated positive trends in agricultural activities. The use of models in the dissertation (correlation-regression analysis, fractal analysis, SWOT analysis, implementation of investment platforms, and stimulation of business processes for rural development) made it possible to establish causal relationships between factor and outcome variables to assess the effectiveness of investment attractions in rural areas and the predictability of the examined time series to identify its behavioral patterns. The restoration of rural areas requires intensive measures aimed at expanding the format of the investment landscape between investment distribution centers for rural revival, utilizing existing mechanisms and models for implementing investment attraction strategies to maximize their return within the income structure of rural communities. This reduces the dependence of rural development not only on agricultural sector economic cycles but also on the influence of the internal and external macroeconomic environment of the country. The proposed approach to analyzing the spatial landscape of investment attraction for rural development enables a systematic character of investment business processes at the regional level, balancing investment flows according to current economic realities and environmental challenges. The three-dimensional structure of the platform landscape smooths investment heterogeneity through financial compensation mechanisms and territorial redistribution of investments into infrastructure reconstruction projects, as well as ensuring the search for instruments to eliminate shortcomings in the investment space of rural areas. A strategy for attracting investments into rural development is substantiated based on the use of an investment platform and stimulation of business processes (based on the assessment of internal and external macro-factors using SWOT analysis), which allows accelerating the reconstruction of rural infrastructure objects with the participation of interested investors involved in the economic revival cycle of the agricultural sector. The investment strategy serves as a guide for formalizing the primary and auxiliary business processes that are implemented during shifts in economic revival cycles in the agricultural sector of the country. These processes aim to transform the sectoral-territorial structure of investment into rural infrastructure projects with a clearly defined platform landscape that stimulates the balancing of investor interests in public-private partnerships by integrating existing institutions and organizations with specific types of activities or, conversely, by forming a comprehensive investment platform as an independent institution. The investment attractiveness of rural areas is determined by the presence of a well-founded development strategy aimed at utilizing their economic potential. The proposed investment attraction model focuses on the following key areas: diversification of the rural economy, the use of public–private partnership mechanisms, and financial support (own revenues, joint borrowing, grants, international assistance, and the Rural Development Fund). This approach contributes to the goal of ensuring the sustainable development of rural areas. The proposal to apply the public-private partnership mechanism as an effective financial instrument within the local self-governance system will facilitate the attraction of additional resources for infrastructure development and meet the needs of the rural population. The practical significance of the obtained results is reflected in the proposals and recommendations for attracting investments to develop rural areas in Ukraine.