CC BY
0Информатика. Экономика. Управление// Informatics. Economics. Management
2024; 3(2) http://oajiem.com/
УДК: 330.322.012
DOI: https://doi.org/10.47813/2782-5280-2024-3-2-0115-0125
EDN: ZACYIT
Improvement of assessment system of investment attractiveness of regions
O. K. Akramova
Bukhara Engineering Technological Institute, Bukhara, Uzbekistan
Abstract. The article studies some foreign and local methods of assessing the investment attractiveness of regions, and based on these, the author proposed a system for assessing the investment attractiveness in regions. Formulas for calculating investment potential and investment risk indicators have been displayed in this assessment system and the region can be assessed based on the results.
Key words: investment attractiveness, assessment methods of investment attractiveness, assessment system, investment potential, investment risk.
For citation: Akramova, O. K. (2024). Improvement of assessment system of investment attractiveness of regions. Informatics. Economics. Management, 3(2), 0115-0125. https://doi.org/10.47813/2782-5280-2024-3-2-0115-0125
Совершенствование системы оценки инвестиционной привлекательности регионов
Бухарский инженерно-технологический институт, Бухара, Узбекистан
Аннотация. В статье рассматриваются некоторые зарубежные и отечественные методы оценки инвестиционной привлекательности регионов, и на их основе автором предложена система оценки инвестиционной привлекательности регионов. В этой системе оценки отображены формулы для расчета показателей инвестиционного потенциала и инвестиционного риска, и по результатам можно оценить регион.
Ключевые слова: инвестиционная привлекательность, методы оценки инвестиционной привлекательности, система оценки, инвестиционный потенциал, инвестиционный риск.
Для цитирования: Акрамова, О. К. (2024). Совершенствование системы оценки инвестиционной привлекательности регионов. Информатика. Экономика. Управление -Informatics. Economics. Management, 3(2), 0115-0125. https://doi.org/10.47813/2782-5280-2024-3-2-0115-0125
О. К. Акрамова
© Akramova O. K., 2024
0115
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INTRODUCTION
Assessing the investment attractiveness of regions is important for every investor. Therefore, the issues of assessing the investment attractiveness of the region are still attracting the attention of national and foreign researchers. There are different approaches to this problem, and eventually the evaluation indicators and methods are different from each other. The constantly changing external world requires the improvement of existing approaches and methods for assessing the investment environment of any region, relying on new factors. Scientists have been talking for a long time about the need to systematize the existing methods of assessing the investment attractiveness of the region [1-4].
MATERIALS AND METHODS
Taking this into account, the methods of assessing the investment attractiveness of sectors and regions studied by foreign and local scientists have been researched in our work. Below we give some examples of them [5].
Among the various methods of assessing the investment attractiveness of regions in the Russian Federation, the following are distinguished:
• "Expert RA" methodology;
• Methodology of the Council for Studying Production Forces of the Ministry of Economic Development of the Russian Federation;
• strategic initiatives agency methodology;
• national rating agency methodology.
The most common rating of investment attractiveness of regions is compiled by an expert rating agency. The investment attractiveness of the regions is analyzed by the Expert RA through indicators of investment potential and investment risk. The rating is calculated on the basis of about 40 indicators combined into an integrated indicator of investment potential (including 9 private potentials: production, infrastructure, innovative, consumer, natural resources, labor, institutional, financial, tourism) and an integrated indicator of investment risk (includes 6 groups of indicators: economic, criminal, social, environmental, financial and management risks) [6-7].
In the monograph "Theoretical, methodological and practical interpretation of investment attractiveness" by Sh.I. Mustafakulov, indicators of investment potential and investment risk are analyzed. Based on these indicators, a methodology for calculating the comprehensive
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investment attractiveness of the country has been developed. 44 private indicators are taken into account in the methodology [1].
RESULTS AND DISCUSSION
In our opinion, the above-mentioned evaluation methods have a causal relationship, because on the one hand, investment risks affect the potential of the area, which determines its attractiveness, which in turn depends on investment activity. On the other hand, it regulates the level of investment potential and investment risk, which also affects the increase in the attractiveness of investments.
As a result of the research, the shortcomings of the methods of assessing the investment attractiveness of the regions were revealed, and most importantly, none of them fully consider the specific characteristics of the regions. Many methods are subjective in nature, which are related to the use of expert judgments.
Having studied the existing methods of assessing the investment attractiveness of regions, we offer a system for evaluating the investment attractiveness of regions (Table 1). The table was developed by the author based on the literature analysis.
Table 1. System for evaluating the investment attractiveness of regions.
Type of competence Indicators Characteristics Calculation formula
Investment potential of region
Natural geographic potential (ISi) Area space percentage (IS1.1) It shows the share of the area of the region in the area of the region ISii=^ Mv Mh -area space, Mv -area of the region
The share of arable land (IS1.2) It shows the share of agricultural land in the total land area TC -Mq/x ISi.2 .. Mh Mq/X -agricultural arable land
Population density (IS1.3) Population per 1 sq.km., people It is given in the data of the Statistics Department of Bukhara Region
Potential of labor resources (IS2) The share of labor resources in the total population (IS2.1) It shows the share of labor resources in the total population . „ MRS MS2.1=— MRS- the number of labor resources As -the population
Type of competence Indicators Characteristics Calculation formula
Share of the economically active population in the total population (IS2.2) It shows the share of the economically active population in the total population _IFA IS22 IFA-economically active population As -population number
Share of employment in labor resources (IS2.3). It shows the share of the number of employees in labor resources TO _ bs IS23 = ^Ts BS-jobs number, MRS- labor resources number
Natural growth (IS2.4) It shows the level of natural growth It is given in the data of the Statistics Department of Bukhara Region
Infrastructure potential (IS3) Share of apartments (houses) (IS3.1) The area shows the share of apartments (houses) in the region IS31 = ^ Kv Kh- number of of apartments (houses) in the region Kv- number of of apartments (houses) in the region
Housing area per person (IS3.2) Housing area per inhabitant, sq.m) It is given in the data of the Statistics Department of Bukhara Region
Share of the total area of the housing fund (IS3.3) The share of the total area of the regional housing fund in the region to _ "Jh IS33 = "h UJh — total area of the housing fund UJV — total area of regional housing fund
Level of drinking water supply (IS3.4) Provision of drinking water It was taken from the indicators of the regional passport.
Level of gas supply (IS3.5) Indicates the level of gas supply (through gas pipelines). It was taken from the indicators of the regional passport.
The level of provision of hard roads (IS3.4) Indicates the level of provision of hard roads ,c QY QY 1 S3a~J;*UY QY-cement concrete, asphalt-concrete, black-surfaced roads UY-the length of public highways
Type of competence Indicators Characteristics Calculation formula
Potential for investment activity (IS4) total investment volume It shows the volume of total investments per 1000 inhabitants jjj IS41 = — * 1000 . ^s IH- the total volume of investments
Percentage of total investments It shows the share of regional investments in the region IS42=wv IHh- The volume of total investments in the region IHh- The volume of total investments of the province
Volume of foreign investments and loans per 1000 inhabitants It shows the volume of foreign investments and loans per 1000 inhabitants YJ IS43 = — * 1000 XI- volume of foreign investment and loans As - population number
Share of foreign investments and loans It shows the share of foreign investments and loans in the region TC x,h IS44 " wv XIh- The volume of foreign investment and loans of the region XIh- The volume of regional foreign investment and loans
Foreign economic activity potential (IS5) export volume It shows the volume of exports per 1000 inhabitants FH IS51 = — * 1000 EH- export volume As - population number
Export share It shows the share of regional exports in the region TC FHv IS52 = FiV XIh- Export volume of the region XIh- Regional export volume
import volume It shows the volume of imports per 1000 inhabitants jjj IS53 = — * 1000 IH- import volume As - population number
Import share It shows the share of regional imports in the region TC IHv IS54 = ^v XIh- import volume of territory XIh- Regional import volume
Type of competence Indicators Characteristics Calculation formula
Investment potential of networks
Industrial production output potential (IS6) number of operating enterprises It shows the number of operating enterprises per 1,000 inhabitants IS6 1 = — * 1000 . ^s KS- number of operating enterprises As -number of population
Share of newly established enterprises It shows the share of newly established enterprises in the region TC YKh IS62 " Wv YKh- The number of newly established enterprises in the region YKh- the number of newly established enterprises in the province
industrial production volume It shows the volume of industrial production per 1000 inhabitants IS63 = — * 1000 . ^s SH — industrial production volume As -population number
Share of industrial production volume It shows the share of industrial production volume in the region TO IS64 - ^v SHh- The volume of industrial production of the region SHv- the volume of industrial production of the region
volume of production of nonfood products It shows the volume of production of non-food products per 1000 inhabitants IS6 5 - No/V*1000 . ^s No/v — volume of production of nonfood products As - population number
Share of production of non-food products It shows the regional share of production of non-food products in the area to No/Vv IS6.6 . No/vv No/vh — volume of production of nonfood products in the region No/vh — production volume of non-food products throughout the region
Type of competence Indicators Characteristics Calculation formula
food production volume It shows the volume of food production per 1000 inhabitants IS67 = — * 1000 . ^s o/v — food production volume As - population number
Share of food production It shows the regional share of food production volume in the area TC °/vh IS6.8 . °/vv o/vh — volume of production of food products in the region o/vh — the volume of production of food products throughout the region
Capacity of the service sector (IS ) Volume of services It shows the volume of services per 1000 inhabitants IS71 = — * 1000 . ^s SH — Area services volume As - population number
Volume of services The area shows the share of the volume of services in the region tc XHh IS72 = XH; SHh- Volume of regional services SHv- the volume of services of the province
The potential of the agricultural sector (ISs) The volume of products (services) of agriculture, forestry and fisheries It shows the volume of products (services) of agriculture, forestry and fisheries per 1000 inhabitants. IS81 = — * 1000 . ^s QXH — the volume of products (services) of agriculture, forestry and fisheries of territory As -population number
Share of products (services) of agriculture, forestry and fisheries It shows the share of agricultural, forestry and fishery products (services) in the region. TC QXHh IS82 QXHV SHh- Area volume of products (services) of agriculture, forestry and fisheries SHv- the volume of products (services) of agriculture, forestry and fisheries throughout region
Type of competence Indicators Characteristics Calculation formula
The potential of the tourism sector (IS9) Share of cultural heritage objects It shows the share of cultural heritage sites in the region TC MO; IS91 - mo; SHh- Area services volume SHv- the volume of services of the region
Share of cultural heritage objects visited by tourists It shows the share of areal cultural heritage objects visited by tourists in the region xr STV IS92 - ^v STh- The number of areal cultural heritage objects visited by tourists STv- The number of cultural heritage objects of the region visited by tourists
Share of hotels and similar accommodation facilities (objects). It shows the share of areal hotels and similar accommodation facilities (objects) in the region TC MS; IS72 - ms; MSh- The number of hotels and similar means of accommodation (objects) in the area MSv- the number of hotels and similar means of accommodation (objects) in the region
The share of organizations that have implemented tourist activities It shows the share of areal organizations that have implemented touristic activities in the region TQ _ TTV IS72 - TTh- Number of organizations that have carried out tourist activities in the region TTv- the number of organizations that have carried out tourist activities in the province
Innovation activity capacity (IS ) The share of organizations that have introduced innovations It shows the share of areal organizations that introduced innovations in the region TC XHV IS72 - XH; SHh- the volume of areal services SHv- the volume of regional services
Share of technological Hudud texnologik innovatsiyalar TC XHv IS72 - xh; SHh- the volume of areal services
Type of competence Indicators Characteristics Calculation formula
innovations (in unit). sonining viloyatdagi ulushini ko'rsatadi It shows the share of areal technological innovations in the region SHv- the volume of regional services
Identifying investment risks
economic risks (IXi) Death rate per 1000 population It is calculated by dividing the total number of deaths in the reporting year by the average number of permanent residents in the reporting year and multiplying by 1000. IX1.1 It is given in the data of the Statistics Department of Bukhara Region
Unemployment rate It shows the percentage of the number of the unemployed in relation to the total number of the working-age population IX1.2It is given in the data of the Statistics Department of Bukhara Region
Demographic load factor It reflects the number of disabled people per 1000 people of working age. TV PY+0Y+15Y IX 13 MRS PY — those of retirement age 0Y + 15Y- The number of people from 0 to 15 years old
financial risks (IX2) Share of damaged enterprises The share of organizations that ended the year with a loss in the total number of organizations conducting business activities IXZ!^ ium Tz —number of organizations that ended the year with a loss TUm — total number of organizations conducting business activities
Share of liquidated enterprises Share of liquidated enterprises compared to operating enterprises IR2 2 2 FKKn TK- liquidated enterprises FKK- the number of operating enterprises
criminal risks (IX3) crime rate Number of crimes per 10,000 people 7*10000 IR31 J-the number of crimes
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Type of competence Indicators Characteristics Calculation formula
Ecological risks (IX4) The percentage of pollutants released into the atmosphere The area shows the share of pollutants released into the atmosphere in the region Achh IX41 — AchV Achh — Pollutants released into the atmosphere in the area AchV —Pollutants released into the atmosphere in the region
CONCLUSION
According to the system for evaluating the investment attractiveness of regions (Table 1), cities and districts are calculated according to 46 indicators. In order to have complete information about the investment attractiveness of the region, the investment potential and investment risk of its cities and districts are determined. Using the formulas given in the table, each indicator is calculated and the investment attractiveness of the area is assessed based on the results.
REFERENCES
[1] Mustafakulov Sh. I. Theoretical, methodological and practical interpretation of investment attractiveness. Tashkent; 2005.
[2] Akramova O. K. Ensuring investment security as an autonomous factor in increasing investment attractiveness. Informatics. Economics. Management. 2022; 1(2): 0208-0216. https://doi.org/10.47813/2782-5280-2022-1-2-0208-0216
[3] Ochilov Sh. B., Boboev A. Ch., Akramova O. K. Ways to increase the investment attractiveness of regions by reducing investment risks in agriculture. Informatics. Economics. Management. 2024; 3(1): 0401-0410. https://doi.org/10.47813/2782-5280-2024-3-1-0401-0410
[4] Boboev A.S. et al. The role and importance of enterprises in increasing the investment attractiveness of the Bukhara region. Science and Education. 2023; 4(2): 1537-1542.
[5] Rasulova N. N., Jumaeva Z. K. Uzbekistan oil and gas industry: history and development prospects. Theory and practice of modern science. 2019; 5(47): 52-57.
[6] Ochilov Sh. B., Zhumaeva Z. K. The main directions of development of innovations in
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the Republic of Uzbekistan. Innovative Development. 2017; 6: 45-47.
[7] Afanasyeva O.N., Goncharova Y.S., Popov I.V. Types of risks affecting the economic development of regions of the RF. Innovative Science. 2022; 12(2): 24-28.
ИНФОРМАЦИЯ ОБ АВТОРАХ /
Акрамова Обида Косимовна, докторант, Бухарский инженерно-технологический институт, Бухара, Узбекистан
)RMATION ABOUT THE AUTHORS
Obida Akramova, doctoral student, Bukhara Engineering and Technology Institute, Bukhara, Uzbekistan
Статья поступила в редакцию 20.04.2024; одобрена после рецензирования 27.05.2024; принята
к публикации 29.05.2024.
The article was submitted 20.04.2024; approved after reviewing 27.05.2024; accepted for publication
27.05.2024.
