Thursday, October 31
A Ukrainian region has attracted more than €400M in investment in the furniture woodworking industry.
Thursday, June 22, 2023
The Rivne region, which has positioned itself as the furniture capital of the country, attracted €400M over the last three years, said the head of the Rivne local administration, Vitaliy Koval. He added that according to experts’ forecasts, Ukraine could become Europe’s most significant furniture producer.
The Rivne region is covered with 40% of Ukraine’s forests and has become the second largest producer of wood. More than 10,000 area residents currently work in this industry.
Kronospan, Hjort Knudsen, and Morgan Fenice are among the companies that have raised more than €400M over the past three years. “These companies export finished furniture, not logs, which increases the added value and creates jobs in the region“, said the head of the Rivne administration.
