The Ryvny (Rivne) Oblast is situated in the northwest of Ukraine and occupies the area of 20.1 thousands square km, it’s about 3.3% from the whole territory of Ukraine. The Ryvny Oblast borders on Brest, Gomel Oblasts of the Byelorussian Republic, Gytomyr, Khmelnitck, Ternopil, Lviv and Volyn Oblasts of Ukraine.

The Ryvny Oblast consists of 16 districts, 4 towns of regional administration and 6 yowns of district administration.
The Oblast has a population near 1.2 mln people; it’s about 2.3% from the whole population of Ukraine.
Good geographical location led to the development of the motorways and railways, development of potential of the region’s natural resources.
The Kyiv –Warsaw, Kyiv – Brest, Kyiv – Lviv and Kyiv – Chernivtsi motorways go through the territory of the Oblast.
The Ryvny airport can receive air transport of all kinds.

There are more than 615 fields of minerals on the territory of the region and only 80 of them are exploited. About one third of feldspar material, 20% of chalk, more than 10% of kaolin, 5-8% of facing and building stones, basalt, cement materials, mineral water etc. are mined from the different deposit fields of the Oblast.

Recently perspective industrial fields of copper and phosphate ore were discovered, also there are perspectives for diamond and jewel mining.
Projects of extension and rational use of more than 100 fields of facing and building materials, basalt, amber and phosphate also have some priority. 19 of 35 known fields of building materials are exploited nowadays. There are 8 fields of facing materials, including fields of pink and blue granite on the east of the region.  Also there are possibilities to increase mining of decorating stones.
About 794 thousands hectares of the region are covered with forest. Forest resources occupy the territory of 853 thousands hectares and total store of wood is about 672.1 thous. hectares.

Industry and agriculture are the major branches of region’s economy. Regional production of plywood, fertilizer, cement, amber, processing of the agriculture products and meat packing plants has big importance in the industry of Ukraine.
Cultivation of grain, potatoes, processing of flax and products of stock-breeding are the major branches of agriculture. The territory of agricultural lands is about 916.2 thousands hectares. Development of foreign economic ties is important lever for solving economic and social problems, for structural reconstruction and establishment regional economy, for saturation of the market with goods and services, increasing level of solvency and employment, introduction of new technology. The Ryvny Oblast has foreign trade ties with 80 countries, including 10 CIS countries.

The biggest amounts of export supply were made to Poland, Russian Federation, Italy, Hungary, Turkey, Germany, and Byelorussian Republic.
Wood and wooden products, fertilizer, chemical products, sugar and pastry made from sugar take a big part in the export of the region.
The biggest amounts of import supply were made from Russian Federation, Germany, Poland, USA, Brazil, Columbia, Hungary, and Netherlands.
Different products of chemistry, sugar and pastry, paper and cardboard, machines and equipment are the basis of the import supply.
It should be noted that enterprises of Ryvny Oblast tend to produce high-quality products and to use new technologies and programs at the same time decreasing a number of products made from the borrowed materials.

The region used to export only row but now qualitative goods with high level of curing can be produced there.
Structure of the import and export supply causes efficient foreign economic ties and attests to high level of the economy’s development, technical progress, export’s opportunities and increasing of resources’ potential.

Decreasing of export and import amount on a barter basis also satisfies improvement of Ukrainian legislation and economy development, improvement of transport and storage systems, financial infrastructure in foreign economic ties. 52 millions dollars are invested in the economy of the region. The biggest foreign investments are made by United Kingdom (31 millions $), Russian Federation (11 millions $), Germany (1.4 millions dollars). To make the region more attractive for the investors it’s planned to introduce special conditions for investment activity with flexible system of custom duties and tax relieves.

The region is interested in cooperation and business partnership with potential investors in such branches as road building, foundation of joint ventures’ nets, in development of modern means of communication. Also the region is interested in co-operation in agricultural branch of economy, joint production of small farming machines, production of light industry goods, development of city’s infrastructure.
 
Opportunities for investments

The biggest foreign investments are made by United Kingdom (30.9 millions $), Russian Federation (11.1 millions $), USA (2.4 millions $), Germany (1.4 millions $).Investments from these countries make up 88% from the whole amount of investments. There are 44.5 $ of foreign investments for one citizen of the region.

Factory “AD-Zorya” producing glass containers of European samples is a joint venture and was established with the help of The European Bank of Reconstruction and development and Canadian investor. This factory is the most modern in Ukraine and CIS countries and is the example of efficient use of foreign investments for the last few years. For today “AD-Zorya” uses modern European technology and  is the biggest producer of glass containers in Ukraine. The factory produces exclusive glass containers for native and foreign companies. Foreign investments gave good opportunity for a lot of companies, such as JV “Rise-Invest”, LLC “ODEK Ukraine”, Ltd “Vik-Expo”, state forest farm in Klesiv to establish modern production of goods and services.
Due to 1.2 millions dollars of investments from Moldova special factory “Dybnonasennya” can produce seeds of sugar-beet. Also the region have to solve the problem of attraction of investments to such important for Ryvny projects as “Introducing of modern technology of insulating slabs from basalt production” at KTP “Komynenergy”, “Reconstruction of ammonia production and introducing of modern energy technology” at PLC “Ryvneazot”, “Introducing of prolux-mini lamps production in Ukraine” at PLC “Ryvny factory “Gasotron”.

The region needs foreign investments for successful solving of social and economic problems. In compliance with “Concept of investment” program and “Development of Ryvny Oblast for 2001 – 2010 project (which was approved by the head of the region administration 21.08.2001 №543) region needs about 112 millions $ of investments.

Introduction of this program needs creation of the 7000 new workplaces and preservation of 13000 workplaces.
There are a lot of meetings with native and foreign investors, representatives of credit organizations. It helps a region to attract more investments and become more developed.

The information about investment projects and business offers you can easily find on different exhibitions, business forums, in Internet or know it from Economic-trade mission of Ukrainian embassy in foreign countries.
Main factors which make  bad impact on foreign investments’ supply are unstable legislation in Ukraine, technological backwardness of majority of factories, which can not produce competitive production, bad development of the fund markets, bad balanced system of  money return guarantee for investors, lack of mechanism of foreign investors’ interests protection.
Solving by legislative power such problems as stimulation of capital market, development of non banking financial organizations (pension, insurance and leasing companies), system of investment risks’ insurance, guarantee of foreign investors’ rights protection will ensure improvement of conditions for investment and business activity.

Development of small business

Support of small business, creation and development of it’s infrastructure are the main priority for the local government’s work.
There are a lot of organizations which work in this branch. They are Ryvny regional business centre, Centre of regional development, Ryvny chamber of Commerce and Trade, Centre of scientific and economic information, Ryvny department of Ukrainian state fund of agriculture support and 29 unions of companies.
Granting credits to small business are made by state and commercial banks of the region and also by foreign funds.
Ryvny regional business centre jointly with local government, representatives from Ukrainian state enterprise organization and with financial support from “Bizpro project” held seminars for unemployed people who would like to run their own business. These seminars were held in Kostopil’s, Goshansk’s and Raduvil’s districts and in Ryvny.
Project “My business – my success” organized by Volyn business association finished last year in Ryvny. This project was organized for the purpose of solving problems of unemployment and improvement of women’s social state. 600 professional advices about running business were given to women, 145 participants took part in the seminars of the project, which was a part of “Vinrock International” program (USA).
There are some priorities for the development of business, such as:
introducing of new technologies complex and use of local resources;
introducing of modern technologies in production, storage and procession of agricultural resources;
development of tourism (hotels, boarding houses);
introducing of modern system of communication and information technologies;
solving the ecological problems in the region;
training, retraining and improvement of business workers’ qualification.
 
Regional co-operation

Improvement of ties with trade partners is one of the priorities in the region’s foreign policy. It gives an opportunity to expand the area of co-operation and increase the amount of the turn-over.
Ryvny’s administration has signed number of interregional contracts, such as Contract of economic-trade co-operation of Ryvny Oblast and Varmyno-Mazur Woyevodstwo in Poland (2.11.2000).
This contract provides for creation of joint ventures, trade and commercial centers, determination of possible investment projects, creation of monetary payment system.
In accordance with tasks formulated on the III Ukrainian-Polish forum in Geshuw (Poland) the regional committee for Program of contract’s realization was created.
Fulfillment of agreements between Poland and the heads of Ukrainian regional administrations, and the agreement between regional administration and Varmyno-Mazur Woyevodstvo are tasks of the committee. Committee had finished preparation of the Program of Contract realization and  this Program will be passed on the executive power of the Varmyno-Mazur Woyevodstvo to further agreement. This Contract also provides for students’ exchange between Ryvny’s and Varmyno-Mazur Woyevodstvo’s institutions of higher education, for co-operation in tourism, initiating of contacts between agricultural, food and chemical branches of economy. Also the days of Poland often take place in Ryvny.
“The Protocol of co-operative intentions with the Varmyno-Mazur Woyevodstvo” was signed at the III Forum of “Partners –cities of Ukraine and Poland: step to the democratic society”.
Poland is the biggest economic partner of the region. About 70 Ryvny’s companies co-operate with Poland. Also the region co-operates with Russia and a lot of contracts with Orenburg, Bryansk, Rostov and Astrakhan regions were signed. Also official visit of Economic trade missions leaders and Consular office of Russian Federation took place in Ryvny.
Region is initnating economic and trade co-operation with the Murmansk, Nygney Novgorod and Nygnegorod Oblasts of Russian Federation. 41 companies with Russian capital are registered in the region. Russian Federation has invested about 11.1 mln $ in different enterprises of the region.
Foreign trade operations’ analysis testifies stable foreign co-operation between the region and Russian Federation.
Statistic researches for the last 3 years also show that Russian Federation remains the main trade partner of the Ryvny oblast.
Question of trade ties was discussed at the meeting of representatives of Ryvny’s enterprises and trade representative of Russian federation. Representatives brought in some business offers. Russian Federation had announced agreement of Ukrainian-Russian investment center’s creation and it’s regional representative in Ryvny and also on producing special automobiles “Gasel” with help of regional technical resources.
The basis of enterprises e-mails was created to guarantee execution of the “Ukrainian-Russian economic-trade co-operation mission’s” decisions. This basis includes all e-mails of companies which are interested in co-operation.
During the “Program of long-term economic co-operation between Ukraine and Byelorussian Republic” and execution of “The Events of administrative program” the foreign trade operations with Byelorussia were analyzed. Traditional goods (ballast products, fertilizers, basalt row, and agricultural products) prevail in the structure of export supply to Byelorussia.
There are three Ukrainian-Byelorussian joint ventures in the region. Money from Byelorussia has never been invested in the region.
Ukrainian Embassy in Byelorussian Republic has sent offers for improvement of economic ties between producers and consumers of agricultural products. Byelorussia hasn’t yet confirmed readiness to sign the contract about trade, scientific and cultural co-operation between Brest and Ryvny regions.
Regional administration often organizes events for attraction attention of regional companies to special exhibitions, forums and seminars which take place in Byelorussia.