The Role of Transnational Corporations in the Development of Ukrainian Economy

This study presents a comprehensive analysis of the impact of TNCs on the Ukrainian economy, assesses the scale of their investments, identifies key sectors receiving the most support, and examines the activities of these companies during the wartime. The activities of the largest TNCs in Ukraine, including Veon, NEQSOL Holding, ArcelorMittal, Nestl?, Bayer, and Philip Morris International, have been analyzed. Data on investment volumes, funding directions, and strategic approaches to doing business in Ukraine are provided. Particular attention is paid to the analysis of enterprises that suffered the greatest losses due to the full-scale military invasion and the mechanisms of adaptation to the new situation. The main advantages of the activities of TNCs in Ukraine were identified, including attracting foreign investments, creating jobs, integrating Ukrainian companies into international production chains, and implementing modern technologies. Along with this, the work examines potential threats such as the repatriation of profits abroad, relocation risks for local companies, tax evasion, and the monopolization of certain markets. Based on the obtained results, recommendations have been provided for improving State policy in regulating the activities of TNCs in Ukraine: optimizing the tax system to ensure a fair distribution of the tax burden between TNCs and national companies; promoting the reinvestment of profits into the development of the local economy; mechanisms to support entrepreneurship in Ukraine. The expansion and strengthening of control over the activities of TNCs have been proposed. Another important direction is the development of technological cooperation between TNCs and Ukrainian companies through the introduction of requirements such as production localization and mandatory technology transfer. Thus, TNCs are an important factor in the development of the Ukrainian economy, ensuring the inflow of investments, the modernization of production capacities, and integration into the global market. However, their activities require balanced State regulation that minimizes risks and maximizes benefits for the national economy. The proposed recommendations are the basis for further research and the development of strategies for effective cooperation with international companies on favorable terms for Ukraine.