Page 120 - Theoretical and Practical Interpretation of Investment Attractiveness

Learning without thinking is futility; and thinking that is not
watered with knowledge is dangerous. Confucius

3.3. Increasing the activity of the investment environment: advanced foreign
experiences and prospects for their use in the conditions of Uzbekistan

The rich experience accumulated in developed countries, the study of the fundamental
nature of the implemented reforms, the decisions and measures taken, and the scientific
critical analysis of their achievements and shortcomings serve as a comprehensive support for
the development of our national economy. Consequently, the rich experiences and modern
trends in the international arena are improving and changing year by year. In particular, these
include issues related to attracting investments, their export and import, protection of
investors' interests, investment activity and increasing competitiveness.
This paragraph describes the essence of the methods and tools related to further
increasing the activity of investments and the attractiveness of the investment environment in
developed countries, as well as comments on the prospects of their use in the conditions of
Uzbekistan.
In the world, there is a fierce struggle between countries to attract foreign capital. With
respect to the volume of foreign investments, its quality and the use of favorable conditions,
in developed countries, year after year, various forms of innovative instruments are being
created, which serve to ensure the attractiveness of the investment environment.
Among these, we will consider the experience of China, whose economic development
is growing faster than other countries, whose goods and services are distributed in all
countries of the world, and today the three most common words "Made in China" are
recognized.
Thanks to the reforms carried out by the government in the field of investments,
adopted systematic measures, developed programs and projects, China managed to conquer
the international markets. As early as 1970, this country raised the investment attractiveness
of the country as one of the most important tasks at the level of state policy. He was one of
the first to make decisions on the establishment of "special economic zones" and provided all
conditions for their development. In the special economic zones of Guangdong and Fuyan, a
liberal tax system was introduced, various administrative barriers were eliminated, and a
number of procedures for opening and running a business were simplified. Investments from
Hong Kong and Taiwan contributed to the development of these zones. At the end of the 20th
century, the volume of investments in these zones made up 50% of total foreign investments.
Also, the light industry and electronics sectors were selected by the Chinese leadership
as promising areas of development. For their full development, modernization of production
and purchase of necessary resources, the state has developed a system of subsidies and a
program "network for export". If 25 percent of the companies belong to foreign investors and
are members of the "network", the Central Bank of China has introduced special preferential
loans. Today, the companies that are members of this "network" produce 80% of total exports.

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