Capital Investment in the Economy of Lviv Region: Rating, Tendencies and Directions of Revitalization

The volume of capital investment in the economy of region is an indicator that signals the level of socio-economic development; standard of living of the population; direction of innovation renewal in any sphere of economic activity; the ability to implement investment programs and projects, and as result, the increasing competitiveness and investment attractiveness both in both the domestic and international markets. Precisely that is why every city or community, region or country should pay considerable attention to the processes of revitalizing investment and creating favorable conditions together with market infrastructure to attract and stimulate investor activities. To assess the current status and tendencies in the development of capital investment in the Lviv region, the authors determine the position of the region in the rating among other regions of Ukraine in terms of the main indicators of capital investments, which are in the public domain and published on the official websites of the State Statistics Service of Ukraine and the Main Department of Statistics in Lviv region as of 2019. In particular, a comparative characterization of Lviv region and Ukraine is provided in terms of volumes, the share of the region to the total volume in the country and region, as well as the position in the rating among the regions according to the following indicators: capital investments by types of assets; capital investments by sources of financing; capital investments by type of economic activity; capital investments per capita. In addition, the dynamics of volumes and growth rates of capital investments of Ukraine and Lviv region for the period 2010-2019 is analyzed. The authors found that the dynamics of growth of capital investments in the Lviv region almost duplicates the dynamics in Ukraine. The research showed that in many respects Lviv region occupies high rating positions among the regions of Ukraine, which justified the high investment potential of the region and the ability to attract significant financial resources for the implementation of investment programs and projects. As result of the study, the authors proposed directions of revitalization of capital investment and improvement of the investment climate of Lviv region.