Free Economic Zones as Drivers of Development in Ukraine

Abstract

One of the most important recent change in the international economy has been the growth of free economic zones. The functioning of free economic zones has a significant impact on the economic development of specific territories and regions at this stage of development in the context of globalization of world economic relations, as well as being primarily focused on resolving pressing economic issues and implementing strategic programs and projects. The importance of free economic zones as engines of financial and economic development, concentrations of high technology, and modern business practices is growing as society transitions to the principles of the market economy. Because of the Ukraine's current economic difficulties, which were first brought on by Russia's military action in 2014 that resulted in the seizure of Crimea and certain districts of Donetsk and Luhansk, then came the all-out conflict, which started on February 24, 2022, free economic zones rehabilitation is crucial for the growth of Ukraine's economy.