INNOVATIVE PRINCIPLES OF SUSTAINABLE DEVELOPMENT OF TERRITORIAL UNITS BASED ON USING THEIR ECONOMIC POTENTIAL

Abstract

The article is devoted to the study of the possibilities of using the economic potential of territorial units to ensure their innovative and sustainable development in the modern conditions of the need to ensure economic security. Three levels of varieties of territorial units of the Ukrainian economy are distinguished. The varieties of economic potential of territorial units are characterized by types of resources (natural, human and material potentials) and by level of development (absolute, real, potential that can be mobilized). The natural resource potential of Ukraine and the consequences of capitalization of natural resources in the context of sustainable development are analyzed. The human potential of Ukraine is analyzed, it is determined that the population is the basis of the labor force, provides production processes. Attention is focused on the need to ensure digital literacy and equal access to jobs with decent wages for different segments of the population, which will reduce socio-economic inequalities and ensure inclusive growth. The dynamics of GDP and the structure of gross value added of Ukraine are studied, the decrease in the share of gross value added in agriculture and its growth in industry is determined, which indicates a certain transition in the economy to more productive sectors. Promising directions of sustainable development of territorial units in Ukraine and increasing their competitiveness in the domestic and international markets are outlined.

The innovative foundations of sustainable development of territorial units based on the use of their economic potential are an important factor that determines their future. The use of natural resource and human potential of territories on the principles of sustainability allows to increase the competitiveness of territorial units in the domestic and international markets, create new jobs, improve the living standards of the population and ensure environmental sustainability. Natural resource and human potential can be used to develop innovative industries, such as energy, raw materials processing, tourism, and others.

To ensure sustainable development of territorial units based on the use of their economic potential, it is necessary to develop effective mechanisms for using the economic potential of territorial units for the development of innovations, create a favorable environment for the development of innovations, and ensure cooperation between government bodies and self-government of territorial units, scientific institutions and business for the development of innovations. The implementation of these directions will ensure the sustainable development of territorial units in Ukraine, increase their competitiveness in the domestic and international markets, and ensure a reliable level of their economic security.

In addition to economic security, the innovative foundations of sustainable development of territorial units also contribute to inclusive development. This means that they create opportunities for all citizens, regardless of their social status, age, gender, and other characteristics. Innovative development of territorial units allows to create new jobs, improve the living standards of the population, develop social infrastructure. This contributes to the reduction of social problems, such as poverty, unemployment, and social inequality. Thus, the innovative foundations of sustainable development of territorial units are a key factor that determines their future and contributes to ensuring economic security and inclusive development.