The research purpose is to formulate proposals for investment development in the construction of industrial and civilian objects in the countryside of Ukraine, taking into account the experience of rural area development in the EU. Theoretical and methodological basis of the research is the dialectical method of cognition of socio-economic phenomena in their interconnection, basic provisions of economic theory, scientific developments of domestic and foreign scientists on investment development in rural area construction. The following methods were used in the work: theoretical synthesis, analysis and synthesis, historical, abstract-logical method, dialectic – in the study of theoretical foundations of the problem under study and in the formulation of conclusions and proposals. The subject of the study is a set of theoretical, methodological, and applied provisions in the field of investment development in construction in rural areas of Ukraine. Practical implications. When investing in countryside construction development, it is proposed to adhere to the following principles: investor’s free choice of directions and investment volumes; voluntary investment; purposefulness of investments; transparency of the process of using investments in the implementation of construction projects; informative value; independence and responsibility. Taking into account main directions of village social sphere development defined by the state and the current state of investing in rural area civil construction, it is proposed to increase the rights and responsibilities of local authorities and self-government. In order to intensify housing construction in the countryside, individual developers and business entities are encouraged to create mutual funds for financing construction and housing in rural areas. It has been established that during the period of research, investing in industrial and civil construction is distinguished by unevenness and is marked by a significant dependence on the general state of the country’s economy. To enhance investment in industrial and civil construction in the countryside as a factor of increasing socio-economic and environmental impact of the agrarian sector, it is advisable to use different sources of capital investment and increase their number. An attractive investment environment for industrial and civil construction in the countryside is formed at the expense of: the sustainable economy and society development; encouragement of entrepreneurial activity of the population; encouraging enterprises and organizations to carry out expanded reproduction; competent banking and financial and credit policy of the state and local self-government bodies.

How to Cite

Azhaman, I., & Petryshchenko, N. (2019). DEVELOPMENT OF CONSTRUCTION INVESTMENT IN THE RURAL AREA. Baltic Journal of Economic Studies, 5(2), 1-9.
Article views: 590 | PDF Downloads: 211



investments, rural area, world experience, development programs, grants, investment sources, industrial construction, civil construction


Vasyliev, O. V. (2010). Modern forms of investment in housing construction. Communal economy of cities: scientific and technical collection, 92, 75–79.

Safonov, Yu. M., Yevtieieva, V. H. (2013). About mechanisms of attraction and sources of financing of investments in housing construction in Ukraine. Investments: practice and experience, 16, 18–21.

Rybak, A. I., Azarova, I. B. (2014). Analysis of the mechanisms of financing construction projects in the field of housing construction. Market mechanism of financing. Management of complex systems development, 18, 88–97.

Kamiński, R. (2017). Investment in social infrastructure in rural areas – does it support the development of social capital? Retrieved from:

Chen, C., Ao, Y., Wang, Y., Li, J. (2018). Performance appraisal method for rural infrastructure construction based on public satisfaction. PLoS ONE 13(10): e0204563. Retrieved from:

Order of the State Statistics Committee of Ukraine «On approval of the methodology for calculating the index of capital investments». (n.d.). Retrieved from:–osnovni/akt5duoy2u.htm

Yongheng, D., Jing, W. (2014). Economic returns to residential green building investment: The developers' perspective. Regional Science and Urban Economics, 47, 35–44.

Azhaman, I. A. (2014). Investing in the development of industrial construction in rural Ukraine. Agrosvit, 16, 23–27.

Azhaman, I. A. (2014). Investment provision of housing development in rural areas. Investments: practice and experience, 16, 28–33.

Website of the European Information and Research Center: European experience of legislative regulation of state support and development of rural settlements. Retrieved from:

Website of the Embassy of Japan in Ukraine: "The Kusanone Program". Retrieved from:

Website: Territorial Cooperation of the Eastern Partnership Countries (EaPTC). Retrieved from:

Report on the results of the project "Investment Policy in Agriculture: Ukraine". Retrieved from:

Decree of the Cabinet of Ministers of Ukraine «On approval of the Rules for the provision of long-term loans to individual developers of housing in the village». (n.d.). Retrieved from:–98–p