The Ryazan region is located in the center of the European part of Russia and is located in the depression between the Central Russian and Volga uplands.

The Ryazan Region has a number of important competitive advantages. This is a favorable geographical location, developed transport and engineering infrastructure, high rates of economic development, and an impressive human resource potential. The Ryazan region is considered one of the largest scientific, educational and cultural centers in Russia.

A favorable investment climate has been created in the Ryazan Region, and clear mechanisms have been developed for implementing the most ambitious projects in various sectors of the economy.

The dominant economic activities of the region are:

• manufacturing;
• production of medicines and materials used for medical purposes;
• manufacture of motor vehicles, other vehicles and equipment;
• crop production, animal husbandry;
• tourist activities;
• activities in the field of information and communication;
• scientific activity.

The mission of the long-term development of the Ryazan region is to form a new model of sustainable development of the region, aimed at improving the quality of life and genuine human well-being, overcoming the trend of population decline.

It is planned to consistently improve the investment climate, implement investment projects, create conditions for entrepreneurship, launch public participation mechanisms, implement a new tax policy and budget strategy, and create a development budget.

The most promising effective sectors of the economy of the Ryazan region are:

• production of electronic and optical products, electrical equipment;
• manufacture of food and beverages, leather and leather products, rubber and plastic products;
• metallurgical production, production of finished metal products, other non-metallic mineral products;
• production of medicines and materials used for medical purposes;
• manufacture of motor vehicles, other vehicles and equipment;
• agro-industrial complex (crop production, animal husbandry);
• tourist activities;
• activities in the field of information and communication;
• scientific activity.