available 294 deposits containing 21 different kinds of
mineral deposits that are considered to be sufficient for economically
feasible exploitation. The most promising among those natural and
mineral resources are crude oil, natural gas, oil mining by-product and
peat. There are 21 deposits of crude oil that are believed to hold 34
million tons of crude oil recoverable in an efficient and profitable
fashion (representing almost a quarter of all reserves of Ukraine), 18
deposits of natural gas (the reserves exceed 72 billion m3), 17 deposits
of oil mining by-product (comprising 35 percent of the nation-wide
availability), and 111 deposits of peat with reserves of almost 55
million tons. Also, the region has substantial non-metallic mineral
resources: phosphates, immovable and potash salts, brimstone, quartz,
Cretaceous, gypsum, chalkstones, marl, glass spigot products, refractory
and high-melting clays, mineral paints, building spigot products and
The labour force consists of about 820,000 persons, about two-thirds of
the entire population, however total employment is just 627,000 persons
working in all spheres of economic activities. This includes 21 percent
in industries, 31 percent in agriculture and forestry, 8 percent in
education, culture and the arts, 5 percent in trade, transport and
communications, and 4 percent in the building trades. About 70 percent
of all people work in collective and private fields of economy.
Sumy region has advanced industrial potential.
The industry is a leading sphere of regional economy. Here is annually
created almost half of gross added cost, 30% of working people are
engaged there. About 40% of petroleum (from total amount in Ukraine)
produced in region, including a gas condensate, and 7% of gas, about 30%
of a sulphuric acid, 6% of pumps centrifugal, 12% of footwear, 5,5% of
Positive changes in Sumy region have been observing for last four years.
For 1999-2002 years volume of industrial manufacture has increased
almost by 17%, or on the average till 4% annually.
In structure of an industrial production mineral industry is for 29%,
about 65% production of a manufacturing industry, in it 27,1% –
mechanical engineering, 22,6% a food-processing industry and processing
of agricultural products, 9,6 a% – chemical and petrochemical industry.
The enterprises of a non-state ownership are produced about 85% of
Innovative activities are developing. In an industry 66 new progressive
processes are implemented. Quality of the goods considerably has raised.
The high awards for production of the following joint-stock companies:
"Shostka city dairy plant", "Konotopmyaso", "KraftFoodsUkraine", "Romny
dairy plant", "Okhtyrka cheese plant" and "Gorobyna" Ltd have received.
"Progress-Invest" Ltd was created as a result of combining on corporate
basis of a number of the food industry enterprises, where on the basis
of modern technological equipment, modern information technologies, the
 1