Volyn is the ancient land that is stretched out in the basin of pictiresque south inflows of the Prypyat River and in the riverheads of the Western Buh River. The land, covered with the legends of ancient times, is glorified by monuments, which remind about the fight and bravery of our ancestors. This is a region of everlasting forests, groves and valleys, blue-eyed lakes, slow and rapid rivers.
The region has a favourable geographical position, located in the north-western part of Ukraine within the zone of Ukrainian Polissya. The area of the region makes 20.2 thousand sq. m. The number of population makes 1053.5 thousand people.
The regional mineral raw potential includes 578 explored deposits of mineral resources, in particular natural gas, coal, peat, sapropel, raw material for bricks and tiles, chalk, sand for construction works and production of glass, attrition and granular phosphorite, and building stone. The supplies of coal of the Volyn deposit have been fully explored. The Lokachynsk gas deposit was explored and is exploited now; its balance supplies make more than 7 billion cube meters of gas.
The agroindustrial complex is the leading regional industry, where almost one half of Volyn gross production output is formed. The collective gardening and market-gardening of inhabitants of cities and district centers is developing. The process of transformation of production cooperative societies into the private facilities is being proceeding.
The regional agriculture specialises in dairy and meat stock-raising, and also production of grain, sugar beets, vegetables and potatoes.
The industrial products are manufactured by 167 regional enterprises (including 137 enterprises of non state sector), which represent almost all leading industries. There are almost 40 thousand workers are employed in this sphere. The great payment in the regional economy is done by workers of processing industry (88%).
The leading regional enterprises are follows as public corporations as Lutsk Bearing Plant (exports 60% of products to more than 25 countries of the world), Elektrotermometriya (Lutsk, specialized on production of devices for contact heat flow measurements, cold and hot water, heat meters and others), Osnastka (Novovolynsk, has the unique equipment and produces machine-tools for production of engines, junctions for wind turbines), Kovelsilmash (manufactures the round link chains, machines and equipment for agriculture), Kivertsispetslismash (makes woodworking machine-tools for primary woodworking) and Lutsk Car Repair Plant (repair of engines, making of pistons and crankshafts).
The public corporations as Lutskplastmas (polymeric wares of household consumption, works on mastering of import substitution photopolymeric plates production for printing industry) and Polymer (specialized on making rubber technical wares) play important role in the chemical industry.
The public corporations as Volynholding (its products are known under the Trade Mark "Torchyn-Product"), Pavlivsk Brewery (except for a beer, the production of mineral water "Iodanka Pavlivska" that compensates the shortage of iodine in the human organism has been mastered here for the first time in Ukraine) and Rozhychshen Cheese Plant are leading enterprises of the food industry.
Besides, the Volyn products under the Trade Marks "Runa" (soft margarines), "Bonita" (macaroni) and PUP-Juice (canning products for children's food) are well-known in Ukraine.
The transport system of Volyn Region is represented by motor transport and railway. The row of strategic routes passes through the region’s territory such as Kyiv–Warsaw and Gdansk–Kyiv–Warsaw–Kovel–Odessa. The infrastructure of the regional transport provides all industries of economic complex, especially in the aspect of commodity exchanges with the boundary districts of Byelorussia and Poland.
117 enterprises and organizations, which construct objects of industrial, agricultural, housing and social-cultural purpose, operate in the regional building complex. More than 7 thousand persons are employed in the regional construction industry.
The infrastructure of trade and sphere of services of Volyn Region is represented by the network of shops, restaurants, cafes, dining-rooms, bars and the like.
Volyn Region has the well-developed banking network. The regional branch of the National Bank of Ukraine, three establishments of commercial banks – legal entities and 20 branches function in the region. The establishments of commercial banks of the region opened 273 separations.
The advantages of geographical location of the region promote the active development of the international cooperation. One of the main directions of activity of Volyn Region in the sphere of external relations is extension of boundary collaboration with adjoining territories of Poland and Byelorussia within the framework of the Euroregion «Buh» established in September, 1995.
The efforts of all participants of the Euroregion are concentrated upon the extension of trade and economic relations, in border development, creation of modern frontier infrastructure and modernization of transport network. The relations in the field of education, science, culture, territorial planning, self-government, environment protection and historical monuments are actively developing. The exchange by delegations of officials of state establishments and law enforcement authorities, research workers, students, pupils and representatives of youth organizations is constantly carried out. The Russian Federation, Poland and Germany are the main economic partners of the region.
The region has already accumulated the experience of work with foreign investors and various international funds, projects of international technical assistance. The region co-operates with the International Financial Institute (EBRD and GUF), programmes of the European Community TACIS and the World Bank.
In particular, for the last several years following projects were developed in the region such as programme of the UN Development «Support of Small and Medium Business in Ukraine», Programme of Regulation Reform within the framework of the BIZPRO Project, creation of network of the Business-Internet-Centers in cities of Ukraine. The development of the European Community Project «Improvement of Environment for Development of Small and Medium Business» has been started.
The dynamic development of sphere of small and medium business of different forms of property is the basis of structural transformations in the regional economy. Their total number steadily grows.
3.9 thousand small and medium enterprises (including 253 enterprises are joint ventures and their co-incorporators are legal entities and natural persons from 26 countries of the world), more than 28 thousand natural persons-businessmen operate in the regional business sector. The one tenth part of capable of working population of the region is concentrated in the small business; they produces more than 9.5 percent of products (works and services) and provides about one fifth part of incomes in budgets of all levels. 590 farm facilities function in the region. On the whole the small business of Volyn Region provides 65 thousand persons with work.
The Volyn State University, Lutsk State Technical University, Volyn Institute of Economy and Management, Lutsk Humanitarian University, Lutsk Biotechnical Institute, Lutsk Representative Office of the Open International University "Ukraine", 19 higher educational establishments of the І-ІІ levels of accreditation (including 4 branches), 20 vocational schools and 824 general schools function in the regional system of education.
The regional health protection sector is represented by 60 medical establishments and 152 out-patient clinics. The medical aid to the villagers is rendered by 813 feldsher-midwife stations. Due to attraction of additional facilities the network of cultural-education establishments of the region has been kept.
Volyn is the territory of wonderful and unique nature; therefore the region has powerful potential of recreation resources. The Shatsk National Natural Park with the largest and deepest lake of Volyn Region – the Svityaz is the most value for recreation. The lake is of cavern origin and fed with mighty springs, so the water in it has curative abilities and it is rich in compounds of silver, bromine and glycerine. This corner of Volyn is named by the pearl of Ukrainian Polissya. The powerful recreation potential is characterized by the Ozeryanska group of lakes and lake of cavern origin, located in the basin of the Turiya River.
Today the attraction of investments in development of green and domestic tourism, development of routes with attraction of territories of the neighbouring states (Helm District, Ljublin Province, Republic of Poland and Brest Region, Republic of Byelorussia) and evaluation of joint international tourist product offer nice prospects.
It is possible to familiarize with the rich historical and cultural inheritance of Volyn, visiting the Museum-Preserve "Cossack Graves", Memorial Complex in the village of Zaturka, created in honour of Vyacheslav Lypynsky, Museum-Farmstead of Prominent Poetess Lesya Ukrayinka in the village of Kolodyazhne, Historical-Regional Museum and Museum of Volyn Icon in Lutsk. The museum under the open sky in the village of Rokyni acquaints with development of agriculture and wood architecture in Volyn Region. More than 150 monuments of architecture are counted in the region. Among them there are the Zagorivskiy Monastery (ХVІ century), Lutsk Castle (ХІV century), Assumption Cathedral in Volodymyr-Volynsky (ХII century), Castle-Palace Complex (ХVІ-ХVІІІ century) in the village of Olyka and many others. All of it is our spiritual inheritance, which we are to save and increase carefully.