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The Current State and Prospects for the Development of State-Owned Enterprises in the Geological Exploration Industry

Journal: Herald of the Economic Sciences of Ukraine (Vol.41, No. 2)

Publication Date:

Authors : ;

Page : 50-57

Keywords : state enterprises; geological exploration industry; mineral resource base; geological exploration work; public policy; strategic planning; a nationwide plan;

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The current state of functioning of state-owned enterprises in the exploration industry was analyzed in the context of their ability to perform new prospecting and exploration works and revaluation of existing promising objects, in particular, it was found that some enterprises have wage arrears, as well as significant tax debt; overloaded with depreciated and obsolete property; the volumes of deductions of a part of net profit to the state budget do not allow timely renewal of fixed assets of production, and also do not contribute to entrepreneurial initiative. Analyzed the regulatory documents in terms of government funding for the development of the mineral resource base. Taking into account the trends and the current state of enterprises, a forecast for their functioning in the near future is given. It is noted that the structural-sectoral and state policy as a whole is unsystematic, illogical, devoid of strategic planning. Proposals are given that should contribute to the development of state-owned enterprises in the geological exploration industry

Last modified: 2022-04-27 00:37:58