The current market economy implies that the search for effective sources of financing the fixed assets reproduction is one of the key tasks in managing the fixed capital of the economic entity. In the changing external environment, modernized equipment of enterprises provides an opportunity to carry out innovative activities, as well as to implement investment projects. The aim of the research was to outline a modern approach to financing the reproduction of fixed assets based on the identification of the relationship between investments and innovations in this process. The research involved the following methods: analysis and synthesis to determine trends in the dynamics of capital investment in Ukraine and the Republic of Poland; regression analysis to forecast the capital investment volume in Ukraine and the Republic of Poland; the internal rate of return to evaluate the effectiveness of the innovation and investment project of a woodworking enterprise. Capital investment volumes in Ukraine and Poland are determined. The 2025 capital investment volume is projected at $8.02 billion in Ukraine (provided a stable rate of further economic decline), and at $110.2 billion in the Republic of Poland. The strategic priorities for the development of woodworking enterprises are outlined: the production of innovative products; implementation of effective solutions for products and markets provided full implementation of innovation and investment strategy; focus on current market needs; ensuring a minimum degree of risk with maximum control of the innovation and investment project; achieving a short-term return on investment with maximum liquidity of the project and the implementation of innovation and investment strategy. An innovation and investment project was developed for the production re-equipment to create an innovative model of interior doors, and its economic justification was carried out.

The article examines the financing and investment aspects of tourism development in Ukraine, considering its importance for sustainable and inclusive growth. The purpose of the article is to identify the main problems of financing and investment development of tourism nowadays. However, the current economic outlook is highly uncertain as the coronavirus pandemic continues to develop. Thereby, there is a higher degree of uncertainty attached to the baseline forecast than under normal circumstances. The current research results make it possible to activate the financial and investment component through the grants attraction.