Invest in Lutsk

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Lutsk is a city, attractive for investments.

Lutsk is a regional administrative center of the Volyn region, covering an area of over 39 km2. The number of citizenes as of January 1, 2018 amounted to 216 505 people. The city is located in the north west of Ukraine, in 150 km from the borders with Poland and Belarus, and in 398 km from the capital of Ukraine – Kyiv.

In 2017 enterprises of Lutsk sold products of industry (goods, services) in the amount of 11.4 billions UAH. (3.4 billions UAH was sold abroad). That is 42.2% of the total Volyn oblast volumes.

58.9% of realized products belonged to processing industry, including:
- machinery - 28.9%,
- rubber and plastic products other non-metallic mineral products - 12%,
- wood products, paper and printing activities - 9.6%.

In terms of per capita, industrial production was sold in amount of 52711 UAH.

The biggest enterprises of Lutsk are: SKF Ukraine, VGP, Joint Ukrainian-Slovak Enterprise Terichem-Lutsk, Tatrafan,  Lutsk Cardboard and Paper Mill - Ukraine, State Enterprise Lutsk Repair Plant “Motor”, subsidiary "Automobile assembly plant №1" of PJSC "Automobile company" Bogdan Motors". These companies provided about half of the city's total volume of industrial products.

In 2017 enterprises of the city carried out construction works (construction of buildings, engineering structures, technical equipment and reconstruction) in amount of 1036,1 million UAH.

About two thirds of the work was carried out at the building construction, the rest - on the construction of engineering structures. More than half of city’s total construction work volumes was performed by the PJSC “Lutsksantekhmontazh № 536”, LLC “Zhytlobud-2”, “Lutskspetsbud”, “West Electra”, Production Enterprise “Elektroservis”, “Lutskautodor-Service”. By the nature of the works, new construction, reconstruction and technical retooling prevailed (82.2%), the rest - capital and current repairs (15.1% and 2.7% respectively).

79.2 thousands square meters of total housing area were taken into operation in 2017, which is 100.5% comparatively to 2016.

In January-September of 2017 over 1 567.6 million UAH was invested in the development of the economy and social sphere of the city (35.9% of the total volume of Volyn oblast), which is 7 320.0 UAH per capita (4 198.5 UAH per capita for Volyn oblast).

Tangible assets took a significant part of capital investments (95.3% of the total volume). 50.5% of them are  investments in buildings and constructions, 39.9% - in machinery, equipment, inventory and vehicles.

4.7% of total capital investment were invested in intangible assets, 10.3% of which were spent on the purchase of software and databases. One of the biggest sources of investment are own funds of enterprises and organizations - 73.6% (UAH 1153.9 million) of total amount of investments.

8.0% (123.8 million UAH) of investments were developed for costs of local and government budgets.

5.8% (91.3 million UAH) were developer for people’s costs for housing construction. The share of loans to banks and other loans amounted to 2.4% (38.2 million UAH).

The volume of export of goods in 2017 amounted 173,0 million USD, the volume of import – 886.6 million USD.

Foreign trade operations were carried out with partners from 88 countries. Lutsk exported goods to 68 countries, and imported from 75.

The total volume of direct foreign investments (equity) in economy of Lutsk as of December 31, 2017 amounted to 95,7 million USD, or $ 459.8 per. Foreign investments were made by partners from 27 countries of the world. The main investors in the city's economy were non-residents from Cyprus, Sweden, Germany, Slovakia, the British Virgin Islands, Great Britain, Poland. These countries have invested about 95.8% of the total volume of direct foreign investments. The biggest amount of investments was received from Cyprus ( 35.3 million USD.