Transparency of Territorial Community Governance As a Basis for Quality Financial Support of Their Activities

Abstract

Decentralization has led to the possibility of creating and forming independent economic units - territorial communities. Along with the expansion of rights, such associations received additional responsibility for their own support. Most territorial communities of Ukraine do not have enough financially viable economic entities on their territory, most of the taxes from economic activity of which could be directed to their development. This highlights the need to attract foreign investment. It is established that an important prerequisite for attracting investment by the territorial community is the transparency of decisions made by its governing bodies. It is determined that the factors that allow to assess the transparency of investment activities of local authorities include: openness of public events for discussion, openness of draft regulatory acts of the executive committee within the statutory period, openness of current regulations of the city council and its executive bodies, the possibility of forming communications with domestic and foreign investors (online and offline), openness of information about investment objects / projects, openness of contact details of members of the executive committee, access to the official platform that helps people start their own business, openness of information about local government cooperation with projects international technical assistance and international organizations, openness of information on the credit rating of the local community, the availability and level of implementation of the program of support and development of entrepreneurship, openness of decisions on the introduction of electronic auctions for the sale of seasonal trade rights.