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THE IMPORTANCE OF REGIONAL INVESTMENTS IN THE
DEVELOPMENT OF THE COUNTRY
Tulaganova Rukhshona Farrukh qizi
Student of Tashkent State University of Economics, Tashkent, Uzbekistan. Email:
rukhshonatulyaganova@gmail.com
https://doi.org/10.5281/zenodo.11542035
In the current process of globalization, all countries set their main goal to
become one of the most developed countries in the world by developing and
stabilizing their economy and improving their macroeconomic indicators. A
developed economy is inextricably linked with the stable growth of the country's
macroeconomic indicators, as well as the increase of the country's all-round
contribution to the world market, and positive indicators of the level of well-
being of the population [1]. Therefore, the instrument that ensures the effective
economic and social development of the country in a short period of time, as
well as gaining its place among the world countries, as well as the improvement
of the country's infrastructure and many microeconomic and macroeconomic
indicators, is attracted to the country. are investments.
Today, at the stage of globalization and technological armament in the
world, the role of investment flow in the interpretation of the combination of
economic development is of great importance. In order to attract foreign
investments through the position of the recipient state, the created investment
potential in the country, the modern infrastructure, the socio-economic policy of
improving the investment environment, in particular foreign they focus on the
unhindered entry of companies, the inviolability of private property, the
establishment of special economic and small industrial zones in the country to
direct their own capital as a business entity, and the availability of tax and other
financial benefits [2]. According to President Shavkat Mirziyoyev, "Any
country that has pursued an active investment policy has achieved stable growth
of its economy. That is why investment is the driver of the economy, it is no
exaggeration to say that it is the heart of the economy [3]". One of the main
benefits of foreign capital for the recipient countries is the improvement of the
existing infrastructure and the creation of favorable conditions for the
population. Therefore, the regional distribution of the investments attracted to
the country is very important for the development of the country, the lifestyle
and well-being of the local population.
Currently, in order to improve the annual foreign investments attracted to
our country and their equal and rational distribution among the regions,
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reforms are being carried out continuously, and a number of measures are being
taken to increase the attractiveness of the investment environment of the
regions. Local - regional, city, district hokims are given a number of tasks to
study the problems of the territory assigned to them and eliminate them, to use
the existing investment potential and potential of the regions effectively
As a result of the investment environment created in our country
and benefits from taxes, duties and other state payments provided to attract
foreign investors, most of the capital investments in our country are accounted
for by foreign investments (Figure 1). In 2017, almost a quarter of the total
investments were foreign investments, and by 2022, this figure will be 42.8%.
97.0 trillion in 2022 from direct foreign investments and loans to the economy
of our country. Soums of investments in fixed capital were absorbed, their share
in the total investments in the Republic was 36.0%, and compared to 2021, it
was 104.3%
It is important that the investment environment of all regions in the
country is attractive to investors at the same or similar level, because it is
important to achieve economic growth through investments and to further
improve the attractiveness of the investment environment in the country and its
regions while increasing the share of foreign direct investment. plays a decisive
role. This, in turn, shows the need to develop scientific proposals and practical
recommendations for regional investment policy and its improvement in
attracting foreign investments [4].
Figure 1. The share of foreign investments and loans in fixed capital
investments in 2017-2022 (in %) [5]
Attracting regional investments to the country will lead to the creation of a
large number of jobs for the local population, directly and indirectly, due to the
emergence of enterprises operating in various fields, the expansion of the scope
and size of existing enterprises due to the attracted capital. ladi It should not be
23,8
24,3
43,6
42,7
42,3
42,8
0,0
5,0
10,0
15,0
20,0
25,0
30,0
35,0
40,0
45,0
50,0
in
%
2017
2018
2019
2020
2021
2022
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forgotten that the attraction of regional investments means improved
infrastructure, which reduces transport and production costs, increases
economic and social efficiency, and allows enterprises to work more efficiently,
which leads to higher productivity. Areas with good infrastructure are more
attractive to both local and international investors, leading to increased capital
inflows and economic development. It is worth noting that regional investment
helps reduce regional disparities by promoting balanced development in
different regions, creating better infrastructure and economic opportunities,
ensuring that rural and underdeveloped areas also benefit from economic
growth, and reducing poverty and social inequalities. helps to reduce and
develop a more inclusive society.In June-July 2023 alone, 863.9 bln. investments
worth soums were attracted, at the same time, 1579 new jobs were created
within the framework of these projects in order to reduce the level of
unemployment of the population and improve the quality of life (Table 1). As a
result of the implementation of these projects, 1065 people of Tashkent region,
288 people of Fergana region, 144 people of Bukhara region, 27 people of
Samarkand region, 55 people of Surkhandarya region in need of work were
provided with jobs.
Table 1
Industrial projects launched in June-July 2023 as part of regional
investment programs in regions [5]
Project
s serial
numbe
r
Implement
ed area of
project
Projec
t
value
(billio
n
soums
)
Numbe
r
of
create
d jobs
Project
s serial
numbe
r
Implement
ed area of
project
Projec
t
value
(billio
n
soums
)
Numbe
r
of
create
d jobs
1
Bukhara
1.7
4
14
Tashkent
region.
130.5
100
2
Bukhara
10
70
15
Tashkent
region.
25
510
3
Bukhara
68.6
70
16
Tashkent
region.
21.4
40
4
Ferghana
6
30
17
Tashkent
region.
5.7
15
5
Samarkand
32
7
18
Tashkent
8.8
15
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region.
6
Samarkand
16.9
20
19
Tashkent
region.
146.4
100
7
Surkhandar
ya
105.7
20
20
Tashkent
region.
2.3
10
8
Surkhandar
ya
3
35
21
Tashkent
region.
2
5
9
Tashkent
region.
11.9
15
22
Tashkent
region.
1
10
10
Tashkent
region.
8.5
60
23
Ferghana
9.1
210
11
Tashkent
region.
56.3
25
24
Ferghana
5
22
12
Tashkent
region.
47.5
60
25
Ferghana
3
8
13
Tashkent
region.
130.5
100
26
Ferghana
5.1
18
Our country, the Republic of Uzbekistan, is among the countries whose
investment potential is increasing year by year, the investment environment is
improving year by year, and the opportunities, facilities, tax and duty benefits
provided to investors attract them to make active investments. Nevertheless,
taking into account the incomparable benefit and progressive positive impact of
foreign investments on the country's economy, the significant contribution to
the wider promotion of modernization and innovation, increasing the
investment attractiveness of our country, direct investment in a larger volume It
is desirable to develop new effective, innovative ways of attracting foreign
investments.
List of used literature:
1. Tulaganova R.F. (2024). THE ANALYSIS OF REFORMS IN THE FIELD OF
INVESTMENT IN UZBEKISTAN. International Finance & Accounting, 3, 1-11.
2. Ochilov, B. (2023). ISSUES OF IMPROVING INVESTMENT ATTRACTIVENESS
IN THE DEVELOPMENT OF THE COUNTRY'S ECONOMY. Economics and
Education, 24(1), 75–81.
3. From the Address of the President of the Republic of Uzbekistan Sh.
Mirziyoyev to the Parliament on December 28, 2018 "On the most important
priorities for the development of our country in 2019".
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4. Amonov A., Nigmatova M. (2022). MAIN ISSUES OF TERRITORIAL
INVESTMENT POLICY AND ITS IMPROVEMENT IN ATTRACTING FOREIGN
INVESTMENTS. Journal of interdisciplinary innovations and scientific research
in Uzbekistan, No. 1.
5. Prepared by the author based on information from the official website of the
Statistical Agency under the President of the Republic of Uzbekistan -
www.stat.uz
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of attracting foreign capital and specific characteristics of the eurobond
transaction." (2023).
7. Шомуродов Р. Т. и др. РОЛЬ МОНЕТАРНОЙ ПОЛИТИКИ В ОБЕСПЕЧЕНИИ
ЭКОНОМИЧЕСКОГО РОСТА //" MOLIYA-IQTISOD". – 2024. – Т. 4. – №. 1. – С. 1-
11.
8. Bakhtiyarovich, O. B. (2023). ANALYSIS OF UZBEKISTAN’S PROSPECTIVE
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прикладных наук. – 2024. – Т. 4. – №. 5. – С. 333-345.
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ПОЛИТИКА: ТЕОРИЯ И ПРАКТИКА." (2024).
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