The Republic of Kalmykia is a part of the Southern Federal District and the Southern Macroregion and is located in the extreme south-east of the European part of Russia.

Kalmykia is characterized by a multicultural economy with a predominance of agriculture.

The transport system of the republic includes road, rail, and air transport.

The dominant economic activities of the region are:

• agriculture;
• transport;
• industry;
• hunting, fishing and fish farming;
• wholesale and retail trade;
• construction;
• public administration and military security;
• social security;
• activities in the field of health and social services;
• education.

The Republic of Kalmykia has developed a Strategy for the socio-economic development of the Republic of Kalmykia for the period up to 2030. The draft Strategy-2030 defines priority areas of development in order to create a favorable environment for human life and activity and the development of entrepreneurship.

The main factors of investment attractiveness of the Republic of Kalmykia include:

• favorable geographical location;

• resource potential, including renewable energy resources;

• the uniqueness of the landscape, the availability of recreational resources for the development of specialized types of tourism, the unique ethno-cultural potential;

• the availability of an educational complex that can meet the needs of the economy in highly qualified personnel;

• accumulated agropotential.