ACADEMIC RESEARCH IN MODERN SCIENCE
International scientific-online conference
153
THE RELEVANCE OF THE COUNTRY’S INNOVATION
ENVIRONMENT IN ATTRACTING FOREIGN INVESTMENT
Ikram Abdullayevich Navruzov
PhD., senior lecturer at Tashkent State University
of Economics, Department of “Evaluation and Investments”.
E-mail: navruzovikrom55@mail.ru / Tel: +998912690990
https://doi.org/10.5281/zenodo.15558727
Classification of innovations refers to the division of innovations into
specific groups according to certain criteria. Classification of innovation begins
with identifying its signs. The classification marks represent the specific
characteristics of a particular innovation group. In the economic literature,
different approaches to the classification of innovation and its division into
criteria are shown. In our opinion, the classification of innovations should be as
follows: complexization of the set of classification symbols intended for analysis;
the ability to determine not only quality, but also quantity when choosing
criteria; scientific novelty and practical significance (importance) of the
proposed classification symbols. Based on the above, innovations can be
classified through Table 1.
Table 1
Theoretical classification of innovations
№
Classification symbols
Types of innovation
1. The form of innovation is the basis of
innovation
• invention, discovery, patent
• rationalization proposals
2. The degree of novelty of innovation
• know-how
3. Innovation scale (scale)
• trademarks, trade marks, emblems
4. Sectors of the national economy where
innovations are implemented
• new documents (describing technological, production,
management, construction, structure, method, etc.)
• the result of marketing research
5. Application of innovations
• periodic (epochal) (revolutionary)
• basic (revolutionary)
6. Types of results obtained as a result of
the implementation of innovations
• improving (evolutionary)
• micro-innovations (evolutionary)
In general, the innovation process is a chain of sequential events in which
innovation is formed from an idea to a concrete product, technology and service,
and spreads into business practice. The innovation process does not end with
implementation, that is, with the appearance of new products and services on
the market or with the delivery of new technologies to their design capacity.
ACADEMIC RESEARCH IN MODERN SCIENCE
International scientific-online conference
154
This process does not end even after its introduction, because the economy will
improve depending on the level of diffusion of news, the level of efficiency will
increase, it will acquire new consumer characteristics. This opens up new areas
of implementation, new markets, new consumers.
In conclusion, it can be said that the innovative strategy is formed on the
basis of organizational, production, technological, management and other
structural potential of the enterprise. Innovative strategies differ in their scope,
terms, fields and directions. The innovation strategy is based on the company’s
own capabilities and the capabilities of the economy's market infrastructure. In
many cases, the innovation strategy is formed based on the general environment
of the economy, the state of the free competition environment, the state of the
industry and sectors, production, technological, entrepreneurial potential and
available opportunities. The fact that the enterprise is organized on the basis of
competition encourages it to develop one or another innovative strategy. The
formation of an innovation strategy is formed as an innovation project, as
mentioned above.
The portfolio of innovative projects often allows you to choose from them.
Innovative projects are designed for a certain period of time and differ in their
aspects. The common denominator is that all innovative projects have their own
life cycles and phases. Innovative projects are technically and economically
justified, the feasibility of their implementation is assessed, the source is
analyzed, the results of specific goals are calculated. The future results of
innovative projects are effectively compared, the risks in the phases of the life
cycle process are measured, and mitigation measures are developed through
their management.
-
development of programs for the targeted use of foreign investment for
the full use of the territorial export potential and others;
-
optimizing the relationship between investors and the government to
completely eliminate bureaucratic barriers and restrictions in the
implementation of investment projects through digitalization and remote
provision of public services;
-
improving the system of attracting foreign investment in the
implementation of strategically important projects, deepening the localization of
production and expanding inter-sectoral industrial cooperation, economic
growth and structural transformation of the economy;
-
creating a favorable business environment based on high technology
and creating high value-added joint projects.
ACADEMIC RESEARCH IN MODERN SCIENCE
International scientific-online conference
155
Based on the above scientific suggestions and recommendations, their in-
depth study, analysis and substantiation will yield results in the near future. It
will also have a positive effect on increasing the country’s investment
attractiveness by creating a favorable investment climate in the country.
List of used literature:
1. Dubina I. N., Carayannis E. G., Campbell D. F. J. Creativity economy and a crisis
of the economy? Coevolution of knowledge, innovation, and creativity, and of the
knowledge economy and knowledge society //Journal of the Knowledge
Economy. – 2012. – Т. 3. – С. 1-24.
2. Compiled by the author as a result of research.
3. Author’s developments based on data from the official website of the Global
Innovation Index - https://www.wipo.int/en/web/global-innovation-index
4. Organisation for Economic Cooperation and Development official website
information - https://www.oecd.org/en.html
5.
Connect
with
R&D
World
official
website
information
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https://www.rdworldonline.com/top-30-rd-spending-leaders-2023-big-tech-
firms-hit-new-heights/
