LEGAL BASIS AND PERSPECTIVES OF INCLUSIVE BUSINESS PARTNERSHIP FOR SOCIO-ECONOMIC RECOVERY AND SUSTAINABLE DEVELOPMENT OF UKRAINE

Section Law: Economic and Legal Problems of Sustainable Development

Abstract

This article highlights the results of the first initial study of the international and domestic legal bases for the introduction of “inclusive business partnership” in Ukraine as a new organizational and legal form of systemic interaction between economic entities and civil society institutions in the process of joint economic activity with the assistance of public authorities. In particular, the global 2030 UN Agenda for Sustainable Development with its human-centred approach aimed at eradication of poverty, creating of possibilities for all and inclusiveness in the secure and prosperous environment, as well as the current Agenda for Europe, the relevant international legal base and practical tools are studied in their interconnection and complementarity. The article provides overviews of examples of good practice of “inclusive business partnerships” with sustainable social effect in some developing countries. The roles in this new economic practice of European and multinational economic entities as investors and promotors, international and local non-governmental organisations, international development agencies, and local power bodies are described. The relevance and socio-economic expediency of “inclusive business partnership” which is determined by the Sustainable Development Goals and the national economic and social background and which is ensured by the synergy of mutual possibilities, potential, needs and skills of its parties are argued. The eligibility of the necessary basic strategic-legal and socio-economic frameworks for learning the current foreign experience of the “inclusive business partnership”, elaboration of the relevant legal regulation and its implementation in Ukraine in the times of postwar recovery of Ukraine is generally analyzed. The author argues that the context of the comprehensive international support to Ukraine confronting the unprovoked Russian military aggression and the challenges of unprecedented losses, that is proved again during the London international Ukraine Recovery Conference of June 2023 and the declaration of the U.S. – EU Summit of October 2023, provide for the perspectives of Ukraine’s innovative, human-rights based, inclusive and ESG-oriented economic development in the course of its integration to the European Union. The nearest prospects of further research in the area of legal regulation of the “inclusive business partnership” in Ukraine are defined.

Keywords

Sustainable Development Goals, overcoming poverty, non-governmental organizations, business entity, inclusive business model, inclusive business partnership, Ukraine Recovery Plan, European integration

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Published
2023-12-12