Yashchenko, OleksiiMakatora, DmytroKubanov, RuslanZinych, Petro2024-03-182024-03-182024Economic justification of renovating and improving architecture and construction according to european standards / O. Yashchenko, D. Makatora, R. Kubanov, P. Zinych // Investytsiyi: praktyka ta dosvid. - 2024. - No. 5. - P. 82-90.2306-6814https://nayka.com.ua/index.php/investplan/article/view/3179https://ela.kpi.ua/handle/123456789/65579The article formulates theoretical and methodological principles of economic justification of the expediency of renewing and improving architecture and construction according to European standards. There is evidence that investment, especially foreign investment, is not only an instrument of development, but also a method of regulation of the economy by means of capital transfers. The peculiarities of the assessment of the effectiveness of investment projects in the field of architecture and construction are under consideration. The relevance and practical significance of the closed-loop economy are demonstrated. The implementation of energy saving technologies in the EU countries, which have been successfully applied in the energy markets of Ukraine, is the subject of analysis. It proves that besides energy efficiency it is important to implement the concept of “smart city”. Certain areas of the study show that the updating and improvement of building codes and architectural practices is an important component of the economic development of Ukraine. The introduction of modern technologies and standards in construction can have a positive impact on the competitiveness of Ukrainian companies. It can help create new jobs and increase construction activity. The development of the construction industry will also contribute to the implementation of infrastructure and housing projects, which will have a positive impact on regional development and the quality of life of the population. It should be noted that the harmonisation of the Ukrainian legislation with the European standards will facilitate the easy integration of the country into the European and global economic space. In particular, by reducing technical barriers and creating synergies between standards, it facilitates trade in Ukrainian products and services. However, since harmonisation requires legislative changes, adaptation to new standards and training of specialists, it is a complex and time-consuming process. The conclusions state that in adopting European standards in construction and architecture, Ukraine is not only adapting to the modern requirements of the time, but is also taking a strategic step that will open wide opportunities for the country in the international arena, bringing economic benefits and improving the quality of life of its citizens. Implementing these changes will require the combined efforts of government, business and civil society, but the results will provide a solid foundation for the country’s sustainable development and European integration.enArticleP. 82-90https://doi.org/10.32702/2306-6814.2024.5.82332.8:330.1:177.10000-0001-6181-65970000-0002-1909-900X0000-0002-0121-48580000-0002-8991-476X