Page 150 - Theoretical and Practical Interpretation of Investment Attractiveness

In our understanding, the absolute change index is not free from analytical flaws, as it
does not clearly represent the intensity of the event change. Therefore, the dynamic rows in
the next column of Table 4.1.2 were filled by calculating relative indicators. According to the
analysis, the growth rate of these indicators: GDP, GDP per capita, average income per capita,
value of fixed assets, investment in fixed capital was high. This means that the level of the
current period is several times higher than the level of the base period.
When analyzing these data, the interrelated price index should also be taken into
account. In many cases, the effect of inflation, due to the fact that it does not take into account
its annual change, leads to erroneous conclusions. Therefore, it is necessary to ensure the
comparability of indicators when performing dynamic (time) series analyses. For this, they
should not only be expressed in the same measurement units and with the same level of
accuracy, but also be comparable in terms of time and space.
Investments (in fixed capital) are directed at the expense of various sources based on
the plan according to the potential of the regions and the state of available natural resources,
medium and long-term development programs of the regions. If we analyze the situation in
the year 2000, the investments per capita in the whole republic at the expense of various
funding sources were equal to 30.2 thousand soums.
In the analyzed year, the number of regions exceeding the republican indicator was
three (Tashkent city, Navoi and Kashkadarya regions), and in 2015, the result of 6 regions
was higher than the republican average (Fig. 4.1.4).
Of course, such changes are a natural process. Because the volume of investments per
capita of the regions in different periods was different due to investments aimed at developing
oil and gas resources as a result of geological exploration.
In this regard, it is desirable to strengthen healthy competition between regions. The
investment program of the Republic of Uzbekistan for 2015 162 provides for the development
of capital investments in the amount of 40,605,781 million soums from all funds (Figure
4.1.5).
Taking into account these important aspects, changes in globalization processes,
situations and trends in the international investment market, the development of a medium-
term strategy and concept for the development of the Republic of Uzbekistan and its
consistent, comprehensive and rapid implementation will be the foundation for the next stage
of development of the country, the Republic of Uzbekistan. The Presidential Decree “ On the
Strategy of Action for the Further Development of the Republic of Uzbekistan”, the State
Program for the Implementation of the Strategy of Action for the Development of Five
Priority Directions for the Development of the Republic of Uzbekistan for 2017-2021 in the
“Year of Communication with the People and Human Interests”, in particular regions,
districts and cities, and issues aimed at proportionate socio-economic development are
identified. as priority areas.

162 Resolution of the President of the Republic of Uzbekistan dated November 17, 2014 No. PQ-2264 “On the investment
program of the Republic of Uzbekistan for 2015”, www.lex.uz
147