Page 130 - Theoretical and Practical Interpretation of Investment Attractiveness

companies producing high-tech medical equipment: JohnsonJohnson, BauschLomb, Abbott,
Boston Scientific to open their branches and headquarters succeeded.
Development of all issues, measures, investment programs related to the further
improvement of the investment environment and ensuring the smooth operation of foreign
investors by the state in Ireland is carried out on a scientific basis. In order to incre ase
investment activity, a number of scientific research institutes, technological parks and
technological clusters have been established in the regions of the country. As we mentioned
above, the Agency provides a number of tax incentives for foreign investors and foreign
companies.
Since 1999, the cancellation of zero tax rates for non-residents in accordance with the
requirements of the European Union (EU) in Ireland has led to a decrease in the country's
investment attractiveness. However, with Ireland's accession to the EU, this issue has returned
to its former state.
Absence of taxes on royalties, rents, interest on loans, as well as income from patents
for inventions to the high interests of manufacturers of telecommunications technologies,
computer systems, perfumes and cosmetics, pharmaceuticals, special chemical elements,
medical equipment to open their business in Ireland caused.
Nowadays, the activity of foreign investments is high because the economy of Ireland
is strongly connected to the state of world markets and changes there. It should be noted that
Ireland is among the top 10 countries in terms of living standards and budget revenues. Most
of the budget funds are spent on education, health care, social development and culture of the
society. Because Ireland is such a small country, it cannot raise taxes too much. In addition,
the increase in taxes, by itself, will lead to the departure of foreign investors from this area.
If we analyze the situation today, the world financial and economic crisis has also had
a significant impact on the Irish economy. There has been a decline in GDP, job losses and an
increase in unemployment. In particular, cases of departure (migration) of people aged 25-30
to the USA, Germany, Great Britain in search of work have accelerated.
In conclusion, it should be noted that it is important to study the experience of
developed countries, the way they have traveled, the laws they have adopted in order to ensure
economic development, the decisions they have made regarding the improvement of the
country's investment environment, and the application of the necessary aspects of the methods
and methods they have developed to attract more investments to the conditions of Uzbekistan. .
After all, the application of accumulated experience taking into account the specific
characteristics of the country leads to a reduction of risk, avoidance of abstraction, and
provision of high efficiency.
Because ready-made experiments will pass the test of time. Most importantly, the
methods that have been used over the years are improving. Therefore, the use of best practices
is the basis of success. Deepening the considerations, it is worth noting that for Uzbekistan,
the effective use of foreign experiences in connection with the liberalization of the investment
sector, the continuation of reforms to increase its attractiveness, and the further improvement
of the legal framework for the establishment of free economic zones in the republic is a
guarantee of development.
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