“…A large part of researchers equate the concepts of investment climate and investment attractiveness, defining the investment climate as a state of investment environment, characterized and assessed by the growth rate of gross domestic product (GDP), the existing level of taxes and benefits, interest rates, inflation, the legal framework of investment activity, tariffs and prices, exchange rates, as well as prices for corporate and public services (Panukhnyk et al, 2019; Stehnei et al, 2019; Verbitska, 2018). At the same time, a number of scientists consider investment attractiveness as a narrower and more subjective concept, defining the investment climate as a set of impact factors (political, socio‐economic, financial, socio‐cultural, organizational, legal, and geographical) inherent in a particular country (region, industry), and determining the level of its attractiveness to foreign investors (Irtyshcheva et al, 2020; Simyan, 2022; Vankovich et al, 2018).…”