Three Seas Economic Journal

THE PECULIARITIES OF COMPETITION IN THE HOTEL SERVICES MARKET OF THE REPUBLIC OF MOLDOVA

2025-05-18T17:51:26+00:00

The hotel services market in the Republic of Moldova plays a pivotal role in the country's economic development, particularly through its contribution to tourism. The present study explores the competitive dynamics of Moldova's hotel industry across its three regions: The geographical location in question is divided into three distinct regions: Centre, North, and South. By examining market structures, barriers to entry, and external and internal influencing factors, the study identifies regional disparities and their effects on competition. The research employs theoretical and analytical methodologies, integrating statistical analysis to evaluate the monopolistic competition characteristics of urban markets, such as Chișinău, and the fragmented nature of rural accommodations in the North and South. The findings reveal disparities in competition levels across regions. Chișinău is characterised by a preponderance of international chains and mid-range hotels, exhibiting monopolistic competition with oligopolistic traits in the luxury segment. In contrast, rural areas in the North and South are characterised by fragmented markets with limited offerings and lower barriers to entry, relying on niche tourism segments such as wine tourism and eco-tourism. The study emphasises the pivotal function of digital marketing, government policies, and infrastructure in determining competitiveness. The research provides practical recommendations for enhancing the competitiveness and sustainability of the hotel industry. These recommendations include region-specific strategies for improving service quality, enhancing digital presence, and promoting collaboration between local and international stakeholders.

MEETING THE EUROPEAN UNION ACCESSION CRITERIA FOR THE REPUBLIC OF MOLDOVA THROUGH ALIGNMENT WITH THE ACQUIS IN THE AGRICULTURAL SECTOR

2025-05-18T17:51:11+00:00

The adoption and implementation of the EU acquis in the agricultural sector are crucial aspects of the Republic of Moldova's accession process to the European Union. Firstly, on June 27, 2014, an ambitious and innovative Association Agreement was signed between the European Union and Moldova, which included a Deep and Comprehensive Free Trade Area (DCFTA). This agreement establishes the foundations for a more robust political alliance and greater economic integration, whilst promoting shared values and enhanced co-operation in areas of mutual interest. Regarding trade, the DCFTA facilitates Moldovan exports and imports by reducing tariffs and simplifying customs procedures, making them more efficient and faster. Additionally, the Agreement further encourages trade by progressively aligning Moldovan legislation, regulations, and procedures—including standards—with those of the European Union. The present study analyses the process of adopting and implementing the European Union acquis in the agricultural sector of the Republic of Moldova, highlighting the importance of this process in the context of European integration. The study examines the legislative framework, agricultural policies, and economic implications of harmonisation with EU norms. A mixed methodology was used for this study, including: documentary analysis involves the examination of pertinent national and European legislation, official reports, and public policy documents; a comparative study is required in order to evaluate how other candidate states have adopted the agricultural acquis and to determine the lessons that can be applied in Moldova's case. The objective of this study is to identify the main challenges and opportunities associated with the adoption of the EU acquis in the agricultural sector of the Republic of Moldova, emphasizing the impact of this process on the national economy and integration into the European single market. Moreover, the objective of the present study is to furnish recommendations that will facilitate the acceleration of the process of compliance with European standards. Conclusion of the study. The adoption and implementation of the EU acquis in the agricultural sector represent a crucial step in the accession process of the Republic of Moldova to the European Union. Notwithstanding the challenges presented by this transition, including the necessity for modernising agricultural infrastructure, adjusting subsidy policies, and improving quality control mechanisms, the long-term benefits are substantial. The following are the key advantages. The increased competitiveness of Moldovan agricultural products in the European market is attributable to their alignment with EU standards. The present paper sets out the argument for the importance of increased access to European funds for the purpose of agricultural development and technology modernisation. The enhancement of food security and sustainability within the agricultural sector is to be achieved through the implementation of eco-friendly and efficient practices. In order to accelerate the harmonisation process, it is essential that there is close collaboration between authorities, farmers and European partners. In addition, continuous investment in agricultural education, infrastructure and research is required. Consequently, the Republic of Moldova has the potential to transform this process into a strategic opportunity for its economic development and sustainable integration into the European Union.

IMPACT OF THE LABOUR NON-DECLARATION ON THE WORKFORCE REPRODUCTION: PROBLEMS, REGULATORY POLICY

2025-05-18T17:50:56+00:00

The purpose of the paper is twofold: firstly, to study the consequences of the employment and labour non-declaration for the population standards of living and working potential reproduction, and secondly, to substantiate systemic approaches to regulating and preventing the totality of the undeclared labour negative impacts in Ukraine. The research methodology is founded upon the generalization, comparison, and analysis of factors, manifestations, and consequences of undeclared work. The aim of this analysis is the reproduction and improvement of the population's labour potential and employment sphere. Furthermore, the methodology is based upon the synthesis of obtained results into approaches for optimising national policy and practices of tracking and preventing these violations of legislatively approved socio-labour relations. Results. The undeclared labour refers to work undertaken on a basis of agreements between a worker and an employer, which are usually concluded without reference to the legislatively approved standards for working hours, volumes, productivity, and payment for labour. Such agreements generally fail to provide reliable fiscal reporting on the volumes of performed labour and achieved work results. Undeclared work, which is carried out within the formal and shadow employment sectors, exerts a discernible systemic negative influence on the replenishment of state and local budgets, mandatory state insurance funds, the implementation of state objectives and mechanisms for socio-economic development, the observance of socio-labour rights, social protection of workers and the general population. Conversely, engaging in informal employment, colluding with the employer to conceal the legal labour volume and results, or failing to declare income from entrepreneurship or self-employment, can enhance available working and living capital, savings, and accumulations, thereby elevating one's life quality and standards. Practical implications. The main criterion for the design and implementation of an effective regulatory policy on undeclared work is the balance of its economy-wide, sectoral and industry-specific, control and monitoring, as well as preventive measures, with the involvement of authorised structures for the standardisation, control and monitoring of socio-labour relations, employment and the labour market, law enforcement agencies and civil society institutions. Value / Originality. In light of the prevailing trends and characteristics of undeclared labour in Ukraine, the regulatory policy should prioritise the identification and mitigation of this employment model, with a concomitant emphasis on systemic measures to prevent undeclared labour and its transition into formal employment.

CREATIVITY IN DIGITAL MARKETING

2025-05-18T17:50:42+00:00

The purpose of this paper is to explore the significance of creativity in digital marketing and its impact on the success of marketing campaigns. The present article aims to explore the concept of creativity in digital marketing, to evaluate its impact on campaign success, and to identify the key elements that make these campaigns effective. This work provides a comprehensive definition of creativity in digital marketing and its impact on the success of marketing campaigns. Methodology. Adopting an innovative approach to advertising and leveraging digital channels has been demonstrated to enhance brand recognition, attract target audiences, and foster robust emotional connections with consumers. As a component of the study, a survey was conducted, encompassing interviews with 92 individuals, with the objective of ascertaining the impact and application of creativity in marketing campaigns. This facilitated the acquisition of profound insights into the manner in which consumers perceive and respond to creative advertising appeals, and the elements that render these campaigns effective. Results. In the course of the study, an advertising banner was developed for the Nike sports brand. This facilitated the practical application of the studied creative principles and the assessment of their impact on audience engagement and interaction. The creation of the banner was informed by the prevailing trends in design and digital marketing, thus serving as a prime exemplar of the integration of creativity and marketing strategy. Value / Originality. The authors also analyse how creativity influences consumer behaviour and brand loyalty, and demonstrate the creative advertising created for the company, emphasising its importance in building long-term relationships with customers in the modern world.

INNOVATIVENESS OF THE ECONOMY AND ITS PRIORITY SECTORS AS A FACTOR OF UKRAINE'S INTEGRATION WITH THE EU

2025-05-18T17:50:26+00:00

The purpose of the article is to substantiate the positions of Ukraine in the world and European rankings compared to European countries regarding the level of innovation and its trends. This is achieved by means of methodological analysis, determining the innovativeness of the external sector of the economy according to the proposed comprehensive indicator for establishing directions for the implementation of European integration aspirations. Methodology. The study was conducted using a combination of general scientific methods and more specialised approaches, including abstract-logical analysis, system-structural analysis, statistical analysis, comparative analysis, grouping, systematization and generalization. Results. A comparison was conducted of the methodology for assessing the innovativeness of countries' economies in both world and European rankings. The investigation revealed that methodological approaches differ in single and group indicators in terms of quantity and essence. However, the calculation of a complex indicator in points is common. According to the Global Innovation Index 2024, Switzerland (for 14 years), Sweden (occupying this rank for the second year in a row), the United States of America, Singapore, and the United Kingdom are recognised as leaders. Since 2021, Ukraine's GII ranking has exhibited a discernible downward trend, attributable to the challenging military-political and economic conditions the country has experienced. The trend established by the correlation and regression analysis also indicates a further decline in the rank. However, the increase in the innovation coefficient is positive. The Summary Innovation Index, as presented in the European Innovation Scoreboard, indicates that the leading countries are Denmark, Sweden, Finland, the Netherlands, and Belgium, thereby substantiating the substantial discrepancy in the rankings. The prevailing sentiment regarding Ukraine is one of negativity. Ukraine's EIT score is three times worse than the EU-27 average. The priority sector in terms of integration is exports. The European Innovation Scoreboard is a comprehensive list of indicators that includes exports of medium- and high-tech products, as well as science-intensive services. The average value of exports is widely regarded as a comprehensive indicator of a nation's export capabilities. Ukraine was positioned 29th among 32 European countries in this regard. Primarily, there is a necessity for enhancement in the domain of exporting medium and high-tech products. Practical implications. The analysis of the innovativeness of the Ukrainian economy within the framework of global and European ratings allows for the identification of promising directions for the development of its priority sectors. Furthermore, the utilisation of the proposed comprehensive indicator of export innovativeness will create an analytical basis for the decision-making process concerning European integration. Value / Originality. A list of indicators of economic innovation is proposed to expand the ones used in domestic statistics, and the use of a comprehensive indicator of export innovation is suggested for comparison with European countries.

STRATEGIC DIRECTIONS OF INCLUSIVE DEVELOPMENT OF THE IT INDUSTRY IN UKRAINE

2025-05-18T17:50:10+00:00

The purpose of the article is to study the strategic directions of inclusive development of the IT industry in Ukraine, the activation of which will contribute to the further growth of this sphere. Methodology. The study is founded upon a thorough review of extant literature and authentic case studies. The key strategic directions of inclusive development of the IT industry in Ukraine are considered. The primary challenges and opportunities for enhancing the accessibility of IT education, augmenting employment opportunities within the industry, and fostering the digital integration of socially disadvantaged groups have been identified. Results. It is recommended that policies aimed at the promotion of digital inclusion be developed, and that measures be taken to create an environment conducive to the development of technology that is inclusive. The conclusions indicate several important aspects that require attention and further development for the successful transformation of the IT industry in Ukraine, namely: expanding the availability of IT education; inclusive access to technologies; supporting innovations and startups; expanding cooperation between the state, business and civil society; improving cybersecurity and data protection. It is evident that Ukrainian IT companies have the opportunity to attract new international partners who seek to support Ukraine during the war. The establishment of these conditions fosters the development of collaborative research initiatives, facilitating the dissemination of knowledge and technological expertise among relevant parties. Significance / Originality. This study posits the hypothesis that a comprehensive evaluation of the advantages and disadvantages is instrumental in formulating strategic directions for the inclusive development of the IT industry in Ukraine.

ANALYSIS OF SPECIALISATION FACTORS AND MODELING OF SMART DEVELOPMENT PROSPECTS FOR REGIONS OF UKRAINE

2025-05-18T17:49:48+00:00

The modern world is characterised by a multitude of trends that exert a significant influence on the necessity for the development of regions according to the principles of smart specialisation. This approach is predicated on the notion that it will engender cost reductions and concomitant benefits. The significance of this study lies in its identification of the most suitable tool for modelling the prospects for smart development of regions of Ukraine. The present study constitutes an analytical investigation into extant forms of smart specialisation. In addition, it identifies the factors that influence the formation of regional specialisation. These factors will serve as the basis for the selection of the optimal model of regional smart development for each individual region in the future. A study was conducted to identify the factors influencing the smart development of regions. In addition, the principles of smart specialisation of regions were studied, with consideration given to global experience. Following a thorough analysis of the available information sources, the following types of smart specialisation were determined: raw material, agricultural, industrial, infrastructure, financial, cultural and tourist, and universal. The primary factor influencing the specialisation of smart development of regions is the proximity to military threats (to regions where active hostilities are ongoing). In the context of examining the factors that contribute to the development of smart cities, a range of factors have been identified as being of significance. These include natural resources, agricultural potential, the presence of an industrial base, the quality of human capital, the presence of educational infrastructure, logistical accessibility, digital infrastructure, export orientation, innovation and investment climate, and cultural and tourism potential. Each of the factors is assessed in the context of the economic effect, which is defined as the costs and revenues. When modelling, it is imperative that these factors are given due consideration. Furthermore, when modelling smart specialisation of regions, it is necessary to take the following principles into account: focus on innovations, partnership between science and business, involvement of local governments, use of advanced technologies. The transition to smart development of regions is clearly indicated by world experience, and the feasibility of modelling the development prospects of regions of Ukraine is therefore justified. The author proposes a model for the smart development of regions of Ukraine, which is to be implemented using the following tools: economic and mathematical modelling, system-dynamic modelling, SWOT-TAI modelling and geoinformation modelling. For each of the proposed models, examples are given of the feasibility of application, indicating specific regions, methods and scenarios. It has been determined that the implementation of particular modelling tools should be informed by considerations of human potential, resource base and expertise of employees.

EXPERIENCE IN ACCOUNTING FOR FOREIGN ECONOMIC ACTIVITY IN UKRAINE'S PARTNER COUNTRIES

2025-05-18T17:49:30+00:00

The purpose of the article is to study and generalise developments in accounting and control of foreign economic activity in countries with which Ukraine has the closest economic ties. Methodology. The statistical method and the ranking method were utilised to ascertain the largest partner countries of Ukraine.To display the ranking results, a graphical method was employed. In order to describe the accounting and control systems of different countries, a monographic method, methods of analysis and synthesis were used. In order to provide a synopsis of the experience of accounting and control of foreign economic activity in different countries, a comparison and generalisation method was employed. Results. The results of the analysis of world experience have demonstrated that the general features of accounting and control of foreign economic activity in Ukraine's partner countries in foreign trade can be categorised into five aspects. Firstly, harmonisation with International Financial Reporting Standards is imperative for attracting countries to the global economy, international trade markets, resources, labour and capital markets. Secondly, the utilisation of accounting mechanisms to address exchange rate fluctuations is imperative, particularly in contexts involving diverse currency types prevalent in foreign trade transactions. Thirdly, it is evident that third countries establish their own customs and tax regulations for imports and exports, which are based on economic and political interests. This necessitates the implementation of separate accounting procedures for the reflection of relevant operations and payments, and the allocation of these to corresponding expense accounts. Fourthly, the regulation of foreign economic activity is centred on transfer pricing, the disclosure of information regarding controlled foreign companies, and transactions in offshore zones. Fifthly, a pivotal element is digitalisation, encompassing the implementation and utilisation of the XBRL Taxonomy. Practical implications. It was determined that economic entities engaged in foreign economic activity should develop an accounting policy. This policy should address the application of IFRS, exchange rate differences, taxation, transfer pricing, and the digitalisation of accounting. State authorities are obliged to establish pragmatic conditions – ranging from legislative regulation to the operations of local authorities – that would contribute to the development of accounting and control in the five areas indicated. Value/Originality. Following a thorough evaluation of the accounting and control systems employed in Ukraine's partner countries in relation to foreign economic activity, key areas for the enhancement of the Ukrainian system have been identified. This will enhance the effectiveness of international economic co-operation.

MARINE AND BLUE ECONOMY: WHAT IS THE DIFFERENCE AND WHAT UNITES THESE CONCEPTS?

2025-05-18T17:49:15+00:00

The purpose of this article is to elucidate the content of the categories "marine" and "blue" economy, which are increasingly utilised in scientific and political contexts. Absent an acknowledgement of this issue, there is a risk of ambiguous interpretation of the relevant definitions, which poses a threat to the effectiveness of crucial decisions related to accelerating economic growth without distorting natural ecosystems. The focal point of this study is the examination of the relationships established among participants engaged in projects that are focused on the utilisation of the global oceans' abundant resources. The research methods employed encompass content analysis of academic publications and documents from international organisations, in addition to the authors' own observations. The research results indicate a clear differentiation of the content of the categories "marine" and "blue" economy, along with other related categories. This clarity will improve practical decisions regarding the selection of sustainable development strategies for enterprises engaged in activities related to the use of marine/ocean resources to create values capable of meeting human needs. The proposed model delineates the process of planetary economy development from ordinary to sustainable, with the corresponding qualification of its intermediate states.

PECULIARITIES OF DIAGNOSTICS APPLICATION AT THE STAGE OF STRATEGIC CHANGES IN THE ENTERPRISE'S ENVIRONMENT

2025-05-18T17:49:01+00:00

The article is aimed at defining the specifics, methodological approaches and directions for improving the processes of conducting economic diagnostics of an enterprise with due regard for strategic changes in the business environment. The subject of the study is the theoretical, methodological and practical aspects of economic diagnostics of enterprise. The study substantiates the organisational processes of diagnostics, reveals the importance of combining systemic and integrated approaches to conducting evaluation and analytical procedures, and reveals aspects of forming diagnostics of the enterprise's strategic development. Methodology. The theoretical and methodological basis for the study were the achievements of economic theory, works of domestic and foreign scientists, analysts, and specialists on diagnostics of strategic development of enterprises, improvement of the management system of an economic entity. The article uses the following methods: scientific cognition and abstraction (to determine the goals, significance, functions, tasks of enterprise diagnostics in the direction of ensuring the implementation of current and strategic development plans); methods of generalisation and system analysis (to determine the peculiarities of carrying out evaluation and analytical procedures for the objects of diagnostic research of an enterprise); methods of forecasting and analogies (to systematise the impact of the external business environment, trends in strategic changes on the development of strategic potential and, in general, on the financial and economic activities of an enterprise); methods of systematisation and logical generalisation (to formulate substantive conclusions from the study). Research conclusion. For domestic enterprises, it is important to ensure stable, targeted multi-vector development, which in terms of its substantive coverage involves changes in most areas of financial and economic activity, is planned and systematic. Ensuring these changes involves improving management tools, including diagnostics, planning and forecasting. At the stage of strategic changes in the business environment for the development of the enterprise, ensuring the efficiency of doing business, it is relevant to outline own conceptual approaches to diagnostics as an important management system. A clear definition of the goals and objectives of diagnostics, the formation of an appropriate programme and plans, and the improvement of the organisational stages of diagnostic procedures provide reliable and high-quality information for making informed management decisions and implementing the programme-targeted areas of the entity's development with the formation of a basic strategy.

THE PERSONALISATION REVOLUTION: HOW ARTIFICIAL INTELLIGENCE IS TRANSFORMING THE COSMETICS INDUSTRY, MAKING CONSUMERS THE SOURCE OF INNOVATION

2025-05-18T17:48:46+00:00

The article focuses on the use of artificial intelligence (AI) in driving personalisation within the cosmetics industry, emphasising its potential to shift from mass-market production to highly customized skincare solutions tailored to individual consumer needs. The purpose of the paper is to examine how AI-powered personalisation can redefine business strategies, enhance consumer satisfaction, and establish competitive advantages for cosmetic brands. Methodology. The research employs a comparative analysis of current market practices and strategic forecasts for AI adoption in cosmetics. The study draws upon a range of sources, including case studies, industry reports, and technological advancements, in addition to the beauty market, in order to assess the viability and the challenges associated with the implementation of AI-driven personalisation. Results. The article concludes that AI-driven personalisation offers significant opportunities to revolutionise the cosmetics industry, enabling brands to meet individual consumer demands efficiently. The necessity of localized manufacturing, flexible production processes, and adaptive logistics to address challenges is highlighted. The findings emphasise the transformative capacity of consumer-driven innovations in shaping global beauty market dynamics. The analysis demonstrates that AI-driven personalisation facilitates a transition in cosmetic brands from mass-market strategies to individualised product development, thereby fostering enhanced consumer engagement. However, the research identifies key challenges, including the need for adaptable production processes, streamlined logistics, and localized manufacturing to meet rapidly evolving consumer demands. Practical implications. The findings suggest that brands adopting AI-driven personalisation can achieve a competitive advantage by offering tailored skincare solutions, enhancing consumer loyalty, and capturing niche market segments. Investment in local production facilities and flexible supply chains is critical for the efficient delivery of customised products. Furthermore, brands are able to leverage their technological and beauty innovation expertise to gain a dominant position in global markets by aligning personalisation strategies with diverse consumer preferences. Value / Originality. This study provides a unique perspective on the integration of AI into the cosmetics industry, emphasising the strategic importance of consumer-driven innovation. By focusing on the potential for leadership in this transformation, the research offers valuable insights for industry stakeholders aiming to harness AI for market differentiation. The originality of this study lies in its exploration of how AI-powered customisation can redefine traditional business models and establish new standards in the global beauty industry.

INTERNATIONAL AQUACULTURE CLUSTERS: PROSPECTS OF INTERACTION IN THE CONTEXT OF GLOBALISATION

2025-05-18T17:48:29+00:00

The article expounds on the conceptual underpinnings that govern the formation and evolution of international clusters within the broader context of globalisation and European integration. The purpose of the article is to study the issues of the formation and development of international aquaculture clusters in the conditions of globalization and European integration, to substantiate the creation of an international aquaculture cluster and the possibility of its integration into European industrial ecosystems. The methodological basis of the research is the investigation of scientists specialising in the formation and development of international clusters. These scientists have studied various aspects of the functioning of the clusters, their structure, interaction among the participants and the impact on economic development. The general scientific techniques and research methods: logical method (to clarify the concept of "cluster", "international cluster", as well as to determine their relationship and clarify the main characteristics of the clusters); historical method (to study the evolution of the concept of clustering, as well as to analyse the development of international clusters in different regions of the world); comparative method (to compare clustering models in different countries and regions, which made it possible to identify the features of successful cluster initiatives and apply the knowledge gained for the development of international clusters); case method (to analyze specific examples of existing international clusters, which allowed a deeper look at the practical aspects of their formation, functioning and development, and to study real cases of successful international aquaculture clusters); structural method (to build the organisational structure of the international aquaculture cluster in Ukraine, which allowed to study the interaction and organisation of all participants, as well as to identify the main elements that will contribute to the effective functioning of this cluster); statistical method (to study the export parameters of fish, fish products and other aquatic bioresources of Ukraine from 2018 to 2023, identify trends, factors affecting exports, and also predict future changes in this area). The advent of methodologies for defining clustering, and their subsequent generalisation, has enabled the identification of international aquaculture clusters as associations of companies, organisations, research institutes and other participants specialising in aquaculture (i.e., the cultivation of aquatic organisms such as fish, molluscs, algae, etc.). The primary objectives of these clusters are the development of innovations, the augmentation of efficiency, the reduction of environmental impact and the improvement of production practices in aquaculture. The author presents a cogent argument for the establishment of an international aquaculture cluster in Ukraine, and the potential for its integration into the European Union. The establishment of an international aquaculture cluster in Ukraine holds considerable potential for the nation's advancement, ensuring economic growth, food security, job creation, increased exports, and the strengthening of international relations. The establishment of such an association would facilitate Ukraine's utilisation of natural resources and facilitate its integration into the global economy, thereby creating opportunities for the sustainable development of aquaculture. The integration of an international aquaculture cluster into EU countries has been demonstrated to hold significant potential and to offer numerous opportunities for the development of the economy, ecology and sustainable production. The integration of the international aquaculture cluster into the EU countries has the potential to yield numerous benefits, including access to high quality standards and environmental certification, joint research and innovation, access to European markets, increased efficiency through co-operation, promotion of sustainable development and environmental responsibility, investment and financing, improved education and skills, regulation and political support.

THE IMPACT OF DIGITALISATION ON CHANGING FORMS OF ECONOMIC RELATIONS

2025-05-18T17:48:16+00:00

The article is aimed at identifying, systematising and characterising new forms of economic relations arising in the digital economy in the process of production, distribution, redistribution, exchange and consumption of goods and services based on the use of technological, production, organisational and managerial innovations, and also at defining the main directions of the State policy and corporate sector policy aimed at their further development. Methodology. The theoretical provisions relating to the processes of digital transformation of the economy and society, as well as the disclosure of the content of the objective prerequisites for the emergence of new forms of economic relations in the digital economy, are highlighted on the basis of creative development of the conceptual provisions of the theories of digital and technological development. The study of the content and peculiarities of manifestation of certain forms of economic relations is carried out on the basis of an integrated application of the methods of systematic and comparative analysis, generalisation, systematisation, classification, formal logic, expert assessments and forecasting. Results. The study identifies and summarises the main factors contributing to the emergence and development of new forms of economic relations in the context of digital transformations. It has been proved that a characteristic feature of the modern system of economic relations is its innovative and transformational nature, formed due to the widespread use of modern digital technologies. The article identifies and characterises new organisational forms and types of business models of enterprises, changes in the organisation of production process management, distribution of material and financial resources, exchange of goods and services and the nature of final consumption. The author identifies and systematises changes in labour relations and employment structure that occur due to automation, robotisation and digitalisation of production processes. The paper reveals the content and features of the formation of new types of monopolies, describes the main objects of digital competition, as well as new forms of mergers and acquisitions in the digital economy. The main directions of strengthening the social responsibility of business are identified and approaches that contribute to the further development of the system of economic relations are summarised. Practical implications. Based on the results obtained, the article identifies the main areas of digital development of the economy, production activities, resource allocation, exchange, consumption of goods and services, and labour relations that require priority support and incentives from both the state and the corporate sector, which allowed the author to propose specific measures for the development of new forms of economic relations through the development of appropriate regulatory mechanisms. Value / Originality. The proposed measures to stimulate the development of new forms of economic relations in the context of deepening digital transformations will facilitate the development and implementation of appropriate state and corporate sector policies aimed at introducing digital technologies into production and social processes, increasing the efficiency of companies, accelerating social development, ensuring a high level of economic competitiveness, social stability and digital sovereignty.