Page 169 - Theoretical and Practical Interpretation of Investment Attractiveness

was. Nominal growth, which companies pay a lot of attention to, fell from 20 percent
to 7-8 percent 176 .
In addition, McArver said, "foreign companies feel that China has become very
closed to foreign investment." Foreign direct investment in Singapore, Thailand and
Taiwan fell to a four-year low as a share of GDP. In Latin America, in the 12 months
to September 2016 it reached its highest level since 2003.
To attract investment, it is important to create a favorable environment in the financial
market, reduce the tax burden, reform the financial and banking sector, and develop
entrepreneurship. Attracting credit resources for the development of the national economy
and the organization of new industries is a pressing issue, since the implementation of all this
requires large financial capabilities. The solution to this financing issue is defined as the
provision of investment loans to enterprises.
It should be noted that over the years of independence, a favorable investment
environment has been formed in Uzbekistan; a large-scale system of benefits, advantages and
guarantees has been legislatively established to protect the rights and interests of foreign
investors.
As a result, more than 4.2 thousand enterprises in leading industries and sectors of the
economy have been created and are successfully operating in the republic with the
participation of foreign investment. On average , more than 3.0 billion direct investments are
made annually , and their share corresponds to more than 26.6% of the total volume of foreign
investments in the country’s economy. This is clear evidence of the growing interest and
confidence of foreign investors in the stability and maturity of the republic’s economy and
the prospects for its development.
At the same time, the ongoing global financial and economic crisis and increased
competition in the global and regional investment markets are creating an even more
favorable investment environment in the country and stimulating the attraction of foreign
investment for the implementation of production modernization projects. , technical and
technological updating, and also requires the adoption of additional measures to eliminate
existing bureaucratic problems and obstacles in working with foreign investors, to prevent
illegal interference of government and regulatory authorities in the activities of enterprises
with foreign investments.
In order to create the most comfortable investment environment for foreign investors
making direct investments in the development of high-tech industries, to strengthen incentives
for attracting foreign investment and modern technologies to the regions of the republic, to
further strengthen the system of guarantees and benefits for foreign investors and companies
participating in foreign investments, a number of changes and additions, which, in turn, serve
to increase the investment attractiveness of our country. Among these changes, the following
should be noted:
1. In cases of amendments to tax legislation, within 10 years from the date of state
registration of newly created enterprises with foreign investment with a monetary share of a

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