High-tech manufacturing as a determinant of the economic development

Abstract

The aim of the article is to study high-tech production as determinants of the country's economy. The article proves that one of the important factors in the development of the Ukrainian economy is highlighting the development of high-tech production as a priority of the state policy, which will provide opportunities for entering new markets with highly competitive products. A historical analysis of economic phenomena in the global aspect, the possibility of applying experience in the economy of Ukraine. For Ukraine, the experience of the economic miracle of South Korea, which also survived the experience of war, may be interesting. Now the country is among the 12 strongest countries in terms of GDP in the world, at 5th place in the world in the export of high-tech products. The country was called an example of successful government intervention in the economy. The experience of the economic miracle of Singapore is also considered. For 50 years, Singapore has turned from a poor country into a world leader in high-tech industries, such as electronics and pharmaceuticals, and has become the largest financial and oil refining center. Singapore’s modernization was ensured by efforts in four key areas: economic reforms, which determined the vector of investment and innovation development, social modernization, an effective fight against corruption and political stability. The government has relied on attracting foreign investors, developing the financial market and high-tech industries. Simple and transparent business registration and regulation procedures have been adopted in Singapore. It is believed that Singapore owes its success to competent public policy. The article considers the possibilities for the transition of the Ukrainian economy to a new level of development. One of the important competitive advantages for Ukraine is a strong and internationally recognized IT industry, human capital. According to statistics, the main industries that fill the country's budget are metallurgy, the agricultural sector, food and IT. You can also add woodworking and chemical industries, whose share in the state budget is also large. In recent years, these industries have begun to use high technology more and more because of the need to compete in the global market with more developed companies. At the same time, there are no programs at the state level for the introduction of high technologies in the real sector of the economy. Now enterprises independently invest in their innovations. It is possible to launch a revolution in industrial production only by introducing advanced production technologies, which are called “breakthrough”, emphasizing their revolutionary influence on the structure of production. Today in Ukraine there is a fragmented approach to innovative development. Therefore, the task for the public administration system should be the allocation of priority areas for industrial development, the development of effective mechanisms for the development of production of high value-added products. High-tech production deserves special attention.