Page 64 - Theoretical and Practical Interpretation of Investment Attractiveness

"Pen captures the words which are in the darkness
into the light’’ Ramon Gomez de la Serna

CHAPTER 2. SOCIAL-ECONOMIC, INNOVATION-INVESTMENT
POTENTIAL OF REGIONS: ANALYSIS OF SCIENTIFIC-METHODICAL
APPROACHES
2.1. Social-economic potential of regions of the country: scientific-theoretical views
and recommendations
Based on the scientific studies conducted, it is clear that researching the investment
climate of a country, examinin it from all angles in a scientific and methodological way, is
essential. Firstly, it is important to research the social-economic, innovative, and labor
potential of the regions of the country, as well as analyze the scientific views in these areas.
This is because ensuring the social-economic development of the country is closely related to
the investment climate. Investors make their decisions based on this climate. Taking into
account these factors and reasons, in the second part of the scientific work, the essence of the
social-economic potential of the regions is analyzed in terms of scientific-methodological
aspects.
In today's world, under conditions of globalization, it is emphasized that the integration
of regions into international relations, their participation as economic subjects in socio -
economic processes, and their role as independent entities are becoming increasingly
important. The development of administrative-economic regions is closely related to the
effective use of various potentials - social, economic, political, innovative, investment,
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ecological, and others .
Effective use of existing resources in terms of economic phases: production,
distribution, exchange, consumption, accumulation, and reproduction (beyond natural
boundaries) by organizing labor correctly, integrating them into the world economy through
proper management, and ensuring the well-being of the population in the region that is
striving for progress is of great importance.
The evaluation of a country's development through the analysis of its socio-economic
indicators has been emphasized by many economists. Today, the utilization of various social
and economic strategies based on comprehensive research to ensure the sustainable
development of a country's administrative-economic regions (provinces) and how they benefit
from their socio-economic capabilities is being assessed and ranked by comparing both
absolute and relative indicators. In this regard, the existence of differences between regions
is taken into account, and governments are implementing various socio-economic programs
aimed at ensuring the complex, balanced development of regions and improving the well-

79 The word "potential" comes from the Latin "potentia" and conveys the meanings of "power" and "possibility." In the
Uzbek language, this word is used in the sense of "capability" or "capacity." Therefore, in many parts of this monograph,
the term "potential" is also used interchangeably with "capability." In terms of meaning, they are equivalent. This was
emphasized in the previous paragraphs as well.
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