This study investigates the institutional and economic determinants of international investment in entrepreneurial activity, focusing on Ukraine's investment climate under globalization and martial law conditions. It provides a comprehensive analysis of the factors shaping investment attractiveness and emphasizes the crucial role of state policy in creating favorable conditions for attracting foreign capital. The paper underscores the significant importance of international investment for sustainable economic growth, technological development, knowledge and technology transfer, and the activation, support, and long-term development of local entrepreneurship. The research identifies political, legal, financial, and social factors as significant influences on investor decisions, stressing the necessity of stable, transparent, and predictable legal frameworks, well-developed infrastructure, effective governance, and a highly skilled workforce. Moreover, the study explores the complex challenges of ongoing military aggression, extensive infrastructure destruction, uncertainty in regulatory and fiscal policies, and the risks of investment instability and volatility. At the same time, it highlights opportunities stemming from European Union integration, digitalization of the economy, and various governmental, regional, and international investment support programs. The analysis demonstrates that effective investment policy requires coordinated, consistent, and proactive efforts from public institutions, private sector actors, and global partners. Ensuring transparency, protecting investors, mitigating risks, and fostering sustainable long-term economic development are central to enhancing the country’s investment climate. The study also provides practical recommendations to increase Ukraine’s investment attractiveness, stimulate entrepreneurial activity, foster innovation, and support post-war economic recovery, resilience, and socio-economic stability. This work contributes to a deeper understanding of international investment mechanisms, processes, and determinants. It emphasizes the interconnection between global investment trends and national economic strategies, illustrating how targeted policies and supportive institutions can attract capital, promote innovation, and strengthen local entrepreneurship even under high uncertainty. By integrating theoretical insights with empirical observations,the study offers evidence-based guidance for policymakers, investors, and entrepreneurs seeking to navigate the challenges and opportunities of Ukraine’s evolving investment environment.
Fedotova et al. (Wed,) studied this question.