Increasing the Investment Attractiveness of the Lviv Agglomeration: Creating Competitive Conditions for Business and Innovation

Анотація

The article examines ways to increase the investment attractiveness of the Lviv agglomeration as an important factor in creating competitive conditions for business and innovation development. The essence of the agglomeration’s investment attractiveness as a complex category encompassing economic, institutional, infrastructural, social, and spatial components of territorial development is substantiated. Key factors in its formation are identified, including economic concentration, agglomeration effects, the efficiency of the institutional environment, and the level of human capital development. The current state of the investment climate in Ukraine is analyzed, and the main barriers to attracting investment are highlighted, including security risks, institutional weakness, instability of tax legislation, and limited access to financial resources. At the same time, the competitive advantages of the Lviv agglomeration have been identified, including: a favorable geographical location, active inter-municipal cooperation, the presence of a strategic vision for development, and strong educational and scientific potential. Problems in the institutional support of investment activities at the agglomeration level have been highlighted, in particular the absence of regulatory and legal frameworks, insufficient coordination between communities, and uneven development of business support instruments. Directions for increasing investment attractiveness have been proposed, including: the creation of a unified investment platform; standardization of investment passports; formation of joint financial mechanisms; development of digital services; institutionalization of investment policy coordination bodies. It has been shown that among the main instruments used to stimulate economic development in European agglomerations are spatial-infrastructure and institutional ones. It has been proved that the implementation of the proposed measures will contribute to the formation of a holistic investment environment, increasing the competitiveness of communities, and stimulating the innovative development of the Lviv agglomeration.

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