Interaction between the state and development companies: ways to integrate international experience in Ukraine

Abstract

The article discusses the theoretical and practical aspects of interaction between the state and development companies in different geographical contexts, including the examples of the European Union, the United States of America and China. Particular attention is paid to the role of public-private partnerships, which is key to stimulating innovative development, building infrastructure, attracting investment and ensuring sustainable growth of the national economy. Through the prism of comparative analysis, author identifed similarities and differences in the models of interaction between the state and business, showing how the legal framework, the degree of transparency of regulatory mechanisms, and the level of institutional capacity affect the effectiveness of joint projects.

The EU's experience in creating legal and financial instruments to support small and medium-sized enterprises is important, which, in turn, contributes to balanced regional development and the equalization of economic imbalances. The United States, where the state acts mainly as a facilitator and catalyst, clearly demonstrates how a competent innovation policy can ensure growth dynamics in the IT sector and related industries, attracting significant amounts of venture capital and creating a favorable business climate. China's approach based on «market socialism» with state dominance in strategically important sectors shows that concentrating resources in priority areas can accelerate industrialization and technological upgrading, while requiring effective governance mechanisms and proper oversight. The study makes it clear that Ukraine has the potential to integrate the best international practices, taking into account its own socio-economic characteristics and regulatory environment. However, corruption, lack of transparency, and excessive bureaucratization may hinder effective cooperation between the state and development companies. The author emphasizes that decentralization reforms, institutional strengthening, and public policy aimed at creating a favorable business environment and improving public-private partnership processes play an important role in the successful implementation of international experience.