INDUSTRY OF RIVNE REGION: CURRENT STATE AND STRATEGIC TARGETS OF DEVELOPMENT

Topicality. Increasing attention to the development of industry and industrial policy is one of the main tendencies in the development of the modern world global economy. Wide recognition of the important role of industry in solving current problems has been reflected in new challenges for rapid development of the domestic industry. It is a generator of scientific and technological progress and innovation and an important factor in the competitiveness of national economies and it serves as a driver for economic growth. Purpose and tasks.The purpose of the article is to identify the situation, problems and prospects of industry development in the Rivne region. Results. It is established the leading role in the economy of Rivne Oblast is famous for industry and agriculture. It was revealed the leading industries of the Rivne region including production and supply of electricity and gas; Chemical Industry; manufacture of building materials and glassware; Food Industry; manufacture of wood products; engineering.The results of the research on the development of industry in the Rivne region, problems and tasks of its development, SWOT-analysis of the strengths and weaknesses of industry in the Rivne region, opportunities and threats of its development are presented. The primary directions of industry development in the Rivne region have been formed. In particular, modernization of production; introduction of energy-saving technologies; promotion of production of industrial products, competitive in the domestic and foreign markets; an increase in the total volume of foreign direct investment attracted to the regional economy; establishing cooperation with international companies; regulation of the legislative framework on consumer rights protection, advertising, unfair competition, registration of patents and inventions, registration and protection of trademark rights for goods and services.Conclusions. The following problems of the regional industry must be considered and urgently addressed: moral and physical depreciation of fixed assets, high dependence on world market conditions, high energy intensity of production, production of products with low added value, etc. Instead, key drivers need to become its competitive advantages as a strong raw material base, advantageous geographic position, close proximity to the EU markets, a relatively low share of labor costs in the structure of the cost of industrial products, and a significant unrealized potential of domestic demand for industrial products.