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The Qualitative Modernization of Consulting Services in the Process of Foreign Investment in the Post-War Reconstruction of the Economy of Ukraine
Tsygankova T. M., Gordieieva T. F., Khotsynska D. V.

Tsygankova, Tetiana M., Gordieieva, Tamara F., and Khotsynska, Daria V. (2023) “The Qualitative Modernization of Consulting Services in the Process of Foreign Investment in the Post-War Reconstruction of the Economy of Ukraine.” Business Inform 7:51–59.
https://doi.org/10.32983/2222-4459-2023-7-51-59

Section: Investment Processes

UDC 338.1:339.727

Abstract:
In the conditions of post-war recovery of Ukraine, the tasks of consulting companies that will be serving the processes of foreign investment of the economy will become much more complicated. The article is aimed at defining the current approaches to qualitative modernization of provision of consulting services to foreign investors and domestic recipients of funds on the basis of observance of the principles of sustainable development and technological innovations. In the process of research, general scientific research methods were used: generalization, abstraction, structural-system method, classification. Qualitative modernization of modern consulting services for participants in the process of foreign investment involves improving the quality of services taking into account the conception of sustainable development, the use of novel technologies, the introduction of compliance control into the activities of companies and the formation of a special (integrated) package of services. According to the current requirements on the part of foreign investors, compliance should be an obligatory component of corporate governance in their partner companies – being an effective instrument to combat dishonesty and comply with standards in three areas – E (environmental), S (social), G (governance), or ESG. Digitalization of consulting companies raises the quality and variety of services to a new level, providing increased productivity of consultants; providing the ability to operate with large amounts of information, solve previously inaccessible tasks; creating conditions for communication between investment project participants in real time, etc. An additional factor in ensuring the quality of services to foreign investors is the real possibility of communication and work with documentation in the native language of a foreign customer, taking into account the specifics of its linguistic and cultural environment. In further research, it is advisable to study in detail the experience of using the conception of ESG and compliance in the activities of foreign companies and its implementation in the activities of Ukrainian companies.

Keywords: consulting services, foreign investment, sustainable development, compliance, ESG criteria, digitalization.

Fig.: 2. Bibl.: 27.

Tsygankova Tetiana M. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of International Trade and Marketing, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Gordieieva Tamara F. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Trade and Marketing, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Khotsynska Daria V. – Masters Student, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]

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