Financial Support for the Implementation of Ukrainian Water Transport Competitive Strategies in the Macroenvironment Structural Changes Conditions

Abstract

Topicality. The study's relevance is because, over the past thirty years, the Government of Ukraine has faced a complex set of areas for financing the implementation of competitive strategies for water transport, including transport infrastructure. The efficiency of providing transport services for the transportation of goods and passengers by waterways and the operation of its infrastructure, the level of competitiveness of water transport depends on the correctness and justification of funding for the implementation of competitive strategies of water transport. Aim and tasks. The work aims to identify sources of financial support for the implementation of competitive strategies of water transport of Ukraine in the context of structural changes in the macro-environment. Research results. The study results suggest that the sources of funding to ensure the implementation of competitive strategies of water transport in Ukraine in the context of structural changes in the macro-environment can be divided into primary (taxes; fees; mandatory payments; targeted inter-budgetary transfers; capital accumulated by economic entities, credit, and financial institutions; payments by consumers of transport services for the carriage of goods and passengers by waterways; payments by users of water transport infrastructure, etc.) and additional (third parties contributions; contributions of property, assets, lands, or commercial firms owners to the development of existing or construction of new water transport infrastructure facilities; sale or long-term lease of property (lands) owned by the state or communities and adjacent to waterways and water transport infrastructure; related services - funds received from advertising, rent, catering services, shops, parking lots, motels, excursions, etc.). To find additional resources to finance the implementation of competitive water transport strategies, private capital can be attracted to finance transport infrastructure through various public-private partnership schemes. Alternative ways to finance the implementation of water transport competitive strategies include: the "infrastructure plus ownership" approach, the Regulated Asset Base (RAB) model, the mechanism of ?the least present value of revenue? (LPVR), non-tariff revenues from water transport. The analysis of the basic tools of financial maintenance of water transport competitive strategies in the conditions of structural changes of a macro-environment is carried out. Criteria for selecting sources of funding for the implementation of competitive water transport strategies are identified, among which are such as the size and stability of income and social impact of the project; economic efficiency of using a source of funding; payback period of investments; the level of solvency of investors; the level of balance of economic interests of project investors and those who will directly or indirectly benefit from its implementation; level of macroeconomic stability; the level of financial market stability; the level of political and public support for the project; technical capabilities and features of the project. Conclusions. The authors of the article propose strategic recommendations for improving the situation in the field of financial support for the implementation of water transport competitive strategies in Ukraine in the context of structural changes in the macro-environment. These strategic recommendations allowed to further development of the organizational and economic mechanism structure for financing the implementation of Ukrainian water transport competitive strategies, which, unlike existing ones, is based on the integration of financial entities in the field of water transport with national, European water transport strategy and sustainable development goals to ensure global economic and environmental security and enhances the adaptability and competitiveness of Ukrainian water transport in the macro-environment structural changes context.