Page 99 - Theoretical and Practical Interpretation of Investment Attractiveness

The second method was recommended by the UN Commission on Sustainable
Development (UN CSD The United Nations Commission on Sustainable Development) in
1996, in which the system of all sustainable development indicators covers four areas: social,
economic, environmental and institutional. In the initial development, a total of 134 indicators
were calculated, taking into account the above four scopes, later they were improved and
reduced to 60, and various descriptions were introduced in the section of topics, and their
reliability was further increased.
The above-mentioned methods that reflect the sustainable socio-economic
development of
countries/regions are effective and in some sense universal. However, taking into account the
different conditions and development of the regions of Uzbekistan, it is unacceptable to
implement it as it is. Therefore, it is appropriate to adapt these methods to the socio-economic
development model of our country, to implement them based on the specific characteristics
of our country.
Today, the method of integrated indicators used to assess the potential (competence)
of regions can be divided into two large groups. Among these, it is permissible to cite methods
of calculation through average arithmetic and derivative quantities.
For this, it is recommended to use the following integrated indicators, which consist of
several stages.
The first stage is justification of the selected indicators.
The second stage is to evaluate the stability of the territory according to each
indicator (3.1, 3.2).

– direct indicator, (3.1)

– reverse indicator (3.2)

Here, xi is the amount of indicators in area i; max(xi), min(xi) – sample indicator
(benchmarking), i.e. indicators reflecting the optimal (critical) value of area development are
selected.
The third stage is the calculation of economic, social and ecological (econ., soc.,
ecol.) stability through a multifaceted comparative analysis.
The fourth stage is the formation of an integral indicator.
The integral indicator of stability is calculated by the following formula:

(3.3)
The value of the integral indicator is in the range from 0 to 1.

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