On results of monitoring economic and social parameters of municipal formations of the republic in 2009 held by the Ministry of Economic Development of the Republic of Karelia, Pryazha national region is the best among 18 regions and towns.
Economy development of the region is promoted by adoption of some basic programs and documents: programs of social and economic development of the region, program for tourism development, territorial planning scheme of the region. Currently, master plans for settlements of Pryazha national region are prepared.
Economy of the region is based on logging industry, mining industry, agriculture and tourism.
One of the largest logging companies of the Republic of Karelia and Pryazha national region is Shuyales Joint-Stock Company, created in 1993 on the basis of Suisko-Vidansky logging enterprise which traces its history to 1937. Shuyales Joint-Stock Company is a part of Karelian Forest Group holding of ASPEK group of companies.
The largest enterprise of the mining industry is Prionezhsky Mining Company, Ltd. In 2009 the enterprise has introduced a ballast quarry with a crushing and screening plant with a capacity of 800,000 tons of crushed stone a year working in the settlement of Padozero. The total amount of investments has made 720 million roubles. Currently, 187 workers are occupied at the enterprise.
Geological survey held in Pryazha national region has revealed substantial stocks of minerals: titan-vanadium and uranium-vanadium ores, industrial stocks of feldspar, pegmatite, mauve quartzite, gabbro-diabase, sand-gravel materials, gravel andcrushed stone, peat. Currently, enterprises were issued 18 licenses to develop deposits of widespread minerals.
Agriculture in Pryazha national region is represented by three large stock-companies: Pryazhinskoye Joint-Stock Company (fur farming, production and processing of dairy products, bread-baking), Vedlozersky State Farm, Inc. (production of milk and meat), Essoila Joint-Stock Company (production and processing of milk and meat).
Water resources of the region are appropriate for trout-hatching. Six enterprises work actively in this sphere, the largest of them is Gongonalitsa Fish Farm, Ltd. In 2009 trout-farmers of Pryazha national region have raised more than 200 tons of trouts of different ages.
Basides, family farms and farming enterprises develop in the region.
Tourism is one of the upcoming sectors of economy in Pryazha national region. It is promoted by developed road infrastructure, ecological cleanness of the territory, there are many monuments of history and architecture, as well as rich heritage of national culture of Karelians and the Finns traditionally residing in the territory of Pryazha national region.
Today in the region there are 36 tourist objects able to accommodate more than 1000 guests. These objects are mainly located on the bank of Syamozero Lake which has long sand beaches and is one of the most beautiful in the Republic of Karelia.
Government of the region pays special attention to territorial economy development, job preservation and creation, creation of new business entities and mobilization of investmen in the region.
The 'green light' is practiced in work with investors in order to decrease administrative barriers and provide assistance in coordination of various issues with regional and federal institutions.
The region is interested in expansion of international and inter-regional relations, implementation of projects in various spheres of economy and in social sphere.