DIRECTIONS FOR ENSURING THE ECONOMIC SECURITY OF THE STATE IN THE CONTEXT OF IMPLEMENTING THE CONCEPT OF IMPORT SUBSTITUTION

Abstract

The article substantiates the importance of combining aspects of ensuring the economic security of the state and import substitution, which should be included in the state policy for the development of the national economy. It is emphasized that state administration bodies need to solve the task of reducing the import dependence of the domestic market, which involves strengthening competitiveness, increasing demand for domestic goods (products and services), increasing production capacities and realizing innovative potential. The parameters of ensuring the economic security of the state in the context of implementing the concept of import substitution include the following: economic activity in basic industries and expanded reproduction of capital, rational ratios of key structural features of the market functioning, innovative development of the stages of social reproduction (production, distribution, exchange and consumption), compliance with the basic conditions of the competitive and regulatory environment, balance between national market segments, infrastructure and resources. Successful ensuring the economic security of the state in the context of implementing the concept of import substitution is achieved provided that several key tasks are fulfilled: (1) ensuring dynamic growth in the volume of commodity supply of domestic production; (2) reducing the gap between the value and physical volumes of foreign trade turnover; (3) increasing population incomes, which stimulates domestic demand for goods and services and creates favorable conditions for the development of national production and investment in the domestic market; (4) improving the resource and functional capabilities of domestic producers, in particular through technological renewal, improving the skills of employees, access to cheap loans and state incentive programs, etc. Strategic priorities of the import substitution concept have been identified, which include: expanding the capacity of the domestic market, forming optimal structural relationships, ensuring high innovative activity in the real sector of the economy, creating a high-quality business environment in the domestic market, forming and implementing the potential of import substitution to strengthen the spatial and structural competitiveness of territories and segments of the domestic market.