Page 94 - Theoretical and Practical Interpretation of Investment Attractiveness

If we analyze the rest of the regions through the available statistical data, in 2015, the
volume of investments in fixed assets was 43% in Kashkadarya region, 40% in Bukhara
region, and 31% in Syrdarya region. The share of these regions in GDP was 9, 7, 2 percent,
respectively. This indicates that there is not a very high correlation between the investments
made and the national wealth created during the year. Therefore, when developing measures
for the comprehensive development of regions, it is appropriate to take into account all factors
and make reasonable economic decisions based on accurate regression models. These points
are explained in detail in the following paragraphs of the monograph.
The technological modernization of the country's economy allows to increase social
labor productivity, reduce the energy and material capacity of the gross domestic product,
radically increase the quality of manufactured products, and create the material basis for
transitioning the economy to innovative development.
World practice shows that there is a strong correlation between the rate of
accumulation and the rate of economic growth. In general, they can be expressed as
follows. Other things being equal, the higher the rate of savings in a country, the higher
the rate of economic growth. In developed countries, a 2 percent increase in sustainable
output growth per capita GDP leads to a 1 percent increase in the share of savings in
GDP. According to the research of experts of the IMF (International Monetary Fund),
this ratio is 0.5 percent in developing countries 126 .
It should be noted that in the context of the ongoing global financial and economic
crisis and the increasing competition in the global and regional investment markets, to create
an even more favorable investment environment in the country, to stimulate the attraction of
foreign investments for the implementation of projects on the modernization of production,
technical and technological renewal, also, it is appropriate to develop additional measures to
eliminate the existing bureaucratic problems and obstacles in working with foreign investors,
to prevent illegal interference by state and control agencies in the activities of enterprises with
foreign investments.
Taking this into account, creating the most favorable investment environment for
foreign investors making direct investments in the development of high-tech productions,
strengthening the promotion of attracting foreign investments and modern technologies to the
territories of the republic, and further strengthening the system of guarantees and benefits for
foreign investors and enterprises with foreign investments. for this purpose, a number of
changes and additions were made to the legislation, which, in turn, serves to increase the
investment attractiveness of our country. These include:
1. In cases where there are changes in the tax legislation within 10 years from the date
of state registration of newly established foreign investment enterprises with a monetary share
of a foreign investor of not less than 5 million US dollars, profit tax from legal entities, value
added tax (goods, works, services sales turnover), property tax, beautification and social
infrastructure development tax, single social payment, single tax payment, as well as

126 “A collection of lecture abstracts of the republican scientific-practical conference on the topic "Activation of attracting
investments to the national economy". - T.: TMI, 2013, p. 6.

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