Page 10 - Theoretical and Practical Interpretation of Investment Attractiveness

Taking this into account, the Decree of the President of the Republic of Uzbekistan
“On the Strategy of Action for the Further Development of the Republic of Uzbekistan”
identifies the following tasks (directions) as priority areas of economic development and
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liberalization: (we are talking about the third direction out of five directions) :
further strengthening of macroeconomic stability and maintaining high rates
of economic growth;
deepening structural changes, increasing its competitiveness through
modernization and diversification of leading sectors of the national economy;
modernization and accelerated development of agriculture;
continue institutional and structural reforms aimed at reducing state
participation in the economy, protecting private property rights and further
strengthening its sustainable position, stimulating the development of small businesses
and private entrepreneurship;
integrated and harmonious socio-economic development of regions, districts
and cities, effective and optimal use of their existing potential.
Considering that modernization is a socio-historical process that ensures the
transformation of a traditional society into an advanced, industrialized society, it is necessary
to determine indicators that ensure the integrated development of regions and classify factors
influencing the attractiveness of regions. investment climate, as well as improving the
methodology for assessing the socio-economic potential of the region. Development of
practical proposals and recommendations is one of the tasks of this research work.
An increase in national income at a faster rate than natural population growth leads to
an increase in per capita income. On the one hand, the created conditions for small business
and private entrepreneurship in the regions, economic policy pursued on the basis of the
principle of fairness, as well as the timely and correct implementation of regional investment
programs lead to an increase in new jobs in the economy, and, as a consequence, socio-
economic activities serve to ensure development.
That is why the government’s economic policy, aimed at ensuring the socio-economic
development of the regions, is based on the priority goal of ensuring the economic
development of the country and improving the well-being of the population. Due to the
limited economic resources (territorial wealth) available in the regions, the most effective way
to increase production capacity is the optimal use of resources and the mobilization of
additional capital resources based on high technologies. To do this, it is extremely important
to conduct an in-depth analysis of the cause-and-effect relationship to improve the investment
climate in the regions and further increase its attractiveness.
Considering the importance of a number of the above issues and their relevance in
modern life, scientific-theoretical, scientific-methodological and scientific-practical research
was carried out within the framework of this monograph. Based on the research, economic

1 Decree of the President of the Republic of Uzbekistan No. PF-4947 “ On the strategy of action for the further
development of the Republic of Uzbekistan ” . Collection of legal documents of the Republic of Uzbekistan, 2017, No.
6, article 70.
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