Stimulating the Effective Use of the Economic Potential of Region

Modern conditions are characterized by intense competition, deep globalization of the world economy and rapid technological progress. In this context, the effective mobilization and use of the economic potential of region becomes a strategic goal to achieve sustainable development and strengthen competitiveness. Stimulating the effective use of the economic potential of region requires an integrated approach, systemic thinking, active participation of government bodies, enterprises and the public. The aim of the study was to determine the directions of stimulating the effective use of the economic potential of region. In the course of the study, an analysis of methods for assessing the economic potential of territories has been carried out and a methodical approach to assessing the economic potential of region has been proposed, which consists in carrying out a comprehensive assessment of the economic potential of the region, taking into account the proposed synergistic combination of economic, human, infrastructural, research, and quality of life potentials. The formed system of indicators of concentration of economic potential and the level of its use in the form of a ratio of the beneficial effect of region to the potential of region will allow to form an analytical basis for the formation of measures to increase the level of economic potential and the efficiency of its use in the regions of Ukraine. According to the results of the carried out study, it is defined that each region has its own potential, the use of which, under certain conditions, can become an additional source of growth of the State’s economy. Ensuring the competitiveness of the national economy requires the creation of conditions for the effective use of the potential of each region. The creation of such conditions requires constant monitoring with a quantitative assessment of the level of concentration of the region’s potential and the effectiveness of its use