The effectiveness of applying investments in Lutsk was considered at a meeting of the city executive committee's press club using the example of the joint venture "Modern Expo." Back in 1999, this enterprise was a small firm engaged in importing goods from Poland and selling them in Ukraine. By attracting large capital investments and creating high-tech production, it managed to quickly conquer the market, overcoming even Western competitors. How successful and timely the decision to attract foreign capital was is evidenced today by the scale of production: the joint venture "Modern Expo" supplies 45 percent of the commercial equipment market with products of its own manufacture, and businesspeople from Russia, Poland, and Canada are also interested in it. In short, at present this enterprise can be identified as one of the best options for examining the effectiveness of implementing investments and innovations. The latter is evidenced by the fact that the enterprise uses technologies employed by world leaders in space research.

Lutsk city mayor Anton Kryvytskyi noted that creating a favorable investment climate has always been a priority direction for the city's development, even at times when the nationwide situation left much to be desired. It is interesting that potential investors were interested not in business tax breaks, but in the stable situation in the region, as well as positive examples of capital investment. A significant role here was also played by the structural restructuring of management decisions by local authorities regarding the creation of an attractive investment field: from issues of arranging and improving the city's territory to the approval of a multi-year investment development plan for Lutsk, which is a component of the Program for the Social and Economic Development of the City through 2006. A capacious financial system, skillful maneuvering within the minimum and maximum rates of local taxes, a simplified procedure for registering enterprises, the adoption of a number of regulatory documents that facilitate the activity of small and medium-sized businesses – all this confirms that the regional center of Volyn has something with which to attract an investor. This is evidenced by the fact that the volume of foreign investment per capita in Lutsk is 5 times higher than the average statistical indicators in Ukraine.

However, the city authorities have somewhat of a need to adjust local investment policy. The European community introduced adjustments regarding the principles of cooperation with Ukraine as a result of recent political changes in our state. The European Parliament resolution adopted on this matter also reflects the intention to increase assistance to Ukraine under various programs. It was precisely on the need to analyze information about new opportunities for cooperation in the investment sphere that deputy mayor Serhii Tarasiuk emphasized. It is worth noting that Lutsk is open only to mutually beneficial projects, and the authorities will never agree to the location of, say, environmentally hazardous production facilities. Also, one of the few conditions put forward to the investor is a minimum wage level of no lower than 200 conventional units.

Overall, those present reached a common opinion that investments make it possible to introduce the latest scientific and technical achievements and on this basis quickly increase production efficiency, ensure the resolution of social problems and a high level of employment of the population. Since the future belongs to them, it is worth supporting them and developing them further.