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25Конечно же, предварительно, для принятия окончательного решения по выбору той или иной стратегии, необходимо задействовать и другие модели, влияющие на это, например модели SWOT-анализа, PEST - анализа, определения уровня конкурентоспособности (КСП) и т.д.
Заключение. В ходе разработки предлагаемой модели по определению стратегии развития предприятия на основе моделей банкротства, были выявлены и сформулированы следующие выводы:
- замедление роста строительной отрасли, отразилось на повышении уровня банкротства организаций занимающихся строительной отраслью;
- проведенные исследования объектов научной работы, показывают разнородность выводов по всем моделям банкротства, что не позволяет качественно приять стратегические решения менеджментом предприятия;
- при приятии управленческого решения о выборе стратегии, необходимо опираться на сравнительные количественные соотношения сумм полученных значений расчётов выбранных моделей c применением шкалы ранжирования по предпочтительности.
Надеемся, что предложенная модель будет хорошим, вариантом помогающим менеджменту, связать возможность стратегического развития с экономико-финансовым положением организации.
Список литературы
1. Эффективность экономики России. Данные Росстата. [Электронный ресурс].- URL:
https://rosstat.gov.ru/folder/11186 (дата обращения: 25.01.21).
2. Официальный сайт «Строительная газета» г. Москва. [Электронный ресурс].-URL: https://www.stroygaz.ru/ (дата обращения: 15.05.2020).
3. Рубан Т.Е. Анализ методик прогнозирования банкротства на основе использования финансовых показателей / Т.Е. Рубан // Учебное пособие. — М.: ЮНИТИ, 2017с. - 58 с.
4. Куку, Э.С. Система финансовых показателей в анализе потенциального банкротства // Финансы и страхование: сборник трудов преподавателей, аспирантов, магистрантов, студентов. Симферополь: Крымский федеральный университет им. В. И. Вернадского, 2017. - С. 47-50
5. Мазурова, И.И. Методы оценки вероятности банкротства организации: учебное пособие. Санкт-Петербург: Изд-во СПбГУЭФ, 2016. - 502 с.
6. Музалёв, С. В. Рекомендации по использованию западных и российских моделей анализа оценки вероятности банкротства организации // Вестник университета (Государственный университет управления). - 2017. - № 10(20) - С. 136 -145.
7. Новосадов С.А. Организация и управление предприятием: учебное пособие / С.А. Ново-садов. - М.: НИЯУ МИФИ, 2017.- 389 с.
8. Сайт сравнения финансового состояния фирмы «Test Firm» Москва. [Электронный ресурс]. - URL: https://www.testfirm.ru/ (дата обращения: 29.05.2020).
INVESTMENT CLIMATE AND DIRECTIONS FOR STIMULATION OF ATTRACTING THE
FOREIGN INVESTMENT
Rejapov Kh.,
Senior Teacher, chair "Macroeconomics", National University of Uzbekistan named after Mirzo Ulugbek, PhD
SPIN:8101-5325 Turgunov T.,
Andijan Institute of Economics and Construction dean of the Faculty of economics and construction, PhD
Kholmuminov Kh.
1ndyear student of master's degree, specialty "Macroeconomics", Faculty of Economics, National University of Uzbekistan named after Mirzo Ulugbek
Abstract
The article analyzes the investment climate in attracting direct investment, the status of attracted investments and investments in fixed capital, and sources of funding. According to the results of study, there have been developed proposals to improve the investment climate in the country.
Keywords: direct investment, investment, investment climate, economy, investment in fixed capital.
Restrictive measures against the pandemic and its spread have caused sharp and significant damage to the world economy. According to the World Bank's forecast for June 2020, the world economy has been cut down by 5.2 percent in 2020. Per capita income fell by 3.6 percent, resulting in millions of people living in poverty. According to the United Nations Conference on Trade and Development (UNCTAD), negative effects of the pandemic have led to a 40 percent
reduction in foreign direct investment worldwide between 2020 and 2021. This is the lowest figure over the last 20 years [8]. The crisis of the pandemic has also had a negative impact on conclusion of international investment agreements and treaties, formation of investment policy of states in the near future.
It is impossible to carry out structural changes and modernization of the economy, re-equip the enterprises with modern equipment and launch the pro-
duction of competitive products without attracting foreign investment, especially without expanding the participation of foreign investment in key sectors. Attraction of foreign investment to the economy of our country is one of key issues in ensuring the economic power of our country by means of accelerating the expansion of its economic potential, use of domestic opportunities and reserves in all areas, development of new equipment and technology, export-oriented goods.
Foreign economist-scientists Jiyun Cao and Arijit Mukherjee have demonstrated in their research that foreign direct investment has dominated international trade in recent years. It has also been scientifically substantiated that the existence of trade unions can encourage labor market deficits for foreign direct investment and serve to increase the country's investment attractiveness [1]. S.V. Zenchenko, M.A. Shemetkin [2] in their study have highlighted a number of factors that have a greater impact on the desire of investors. In particular, the most important factors for assessing the investment potential of a country / region are: resource - raw (weighted average supply of main types of natural resources); production (general result of economic activity in the region); consumption (purchasing power of the population of region); infrastructural (economic and geographical location of the region and its infrastructure); intellectual (education level of the population); institutional (development level of leading institutions based on a market economy); innovative (level of implementing the achievements of scientific and technological development in the region). It should be noted that investment potential is one of the criteria for classifying regions.
If view the U.S. experience, information and advertising techniques are widely used to develop the economy and improve the investment climate, providing investors with all necessary information to ensure implementation of their investment projects in advertised area [3]. Such a systematically organized strategy of investment policy will ensure the implementation of all regions, as a result, the United States is one of the countries with the highest investment attractiveness in the world. As well as, use by the government in the construction of transport, services, education, road and tunnels, based on the development of private partnerships, also makes a significant contribution to improving the investment climate in the country.
Chinese experience demonstrates that foreign capital plays a key role, so the government has developed a program and comprehensive measures to improve the investment climate. Especially, at the beginning of the 1990s, there were concluded and legally
strengthened the bilateral tax-free agreements with more than 23 countries on mutual protection and encouragement of investments. In addition, with great emphasis on the production of export-oriented products, the government has provided preferential loans, subsidies and a number of other benefits [4].
On August 29, 2020 there has been adopted Resolution of the Ministers Cabinet of the Republic of Uzbekistan under No. 526 "On measures to restore economic growth and continue systemic structural reforms in sectors and industries of the economy in 2020-2021". By this resolution there has been approved a practical action plan to restore economic growth and continue systematic structural changes in Uzbekistan for the period of 2020-2021. This Practical Action Plan will be implemented in 2 stages [5]:
Stage 1 - covering the period up to the end of 2020, as a result of implementation of appropriate measures, GDP growth is expected to reach 102.2% (initial forecast 105.5%).
Stage 2 includes measures aimed at continuing systemic reforms in 2021, ensuring sustainable economic growth rates of 5-5.5%, and adapting to the effects of coronavirus pandemic in 2020-2021.
According to our research, scope of investments in the economy in the 1st half of 2020 has dropped to 12.8% that is 84.8 trillion UZS (forecast -104 trillion UZS) or 87.2% compared to the same period last year [5].
Russia, China, Germany and Turkey are the leaders in terms of investing in the economy of Uzbekistan, with a total of 37 countries investing in the economy of our country. During the period under review, the most attractive branches for investors are -electrical engineering industry (growth compared to the same period in 2019 - for 13 times), construction materials (growth - for 3.6 times), ICT (growth - for 3.5 times). The food industry (growth - for 1.5 times), chemical industry (growth - for 1.3 times) and textile industry (growth - for 1.6 times) also has shown positive growth dynamics. At the same time, growth trend of attracting foreign direct investment and loans to projects of regional significance has strengthened and amounted to 2 billion USD in the reporting period, increased for 1.05 times in comparison with the same period in 2019. Of the total, 1.6 billion USD was directed to fixed capital. A scope of investment in regional projects accounted for 62.3% of total foreign direct investment [6].
As illustrated in Figure 1, share of disbursed investments in fixed capital has increased since 2016, but in 2020, a level of disbursements decreased by 8.2 points due to the pandemic.
Figure-1. The growth rate of investments in fixed capital [7], in%
According to statistics (figure-1), the share of own funds of enterprises in the structure of investments in fixed assets in the country by sources of financing in 2016 compared to 2020 decreased by 19.8 points, while the amount of funds received has increased by the same amount. Particularly, the state budget increased by 49.9%, bank loans and other debts by 30.8% and foreign investments and loans by 107.1% (for 2.07 times) [7].
For the effective implementation of the Law of the Republic of Uzbekistan "On Investments and Investment Activities", there has successfully been established a 4-stage mechanism of cooperation between investors and the Ministry of Investment and Foreign Trade, Khokimiyats, diplomatic missions abroad and Deputy Heads of commercial banks. In this regard, it is important to emphasize a role of the Council of Foreign Investors under the President of the Republic of Uzbekistan, established with the support of the European Bank for Reconstruction and Development, which provides direct communication with investors operating in the Republic, will allow to respond promptly to inquiries and properly monitor the effectiveness of measures provided by law.
In addition, there is a growing demand for liberalization of entrepreneurial activity in the country to stimulate private investment, in this regard, the state carries out the following assignments:
• There is being formed a model of stable and competitive economy of the country, transfer of most of the assets of banking system to private investors;
• Encouraging investment through the development of public-private partnerships and project financing tools to increase investment attractiveness and ensure sustainable economic growth;
• Relationship between investors and the government is being optimized to completely eliminate bureaucratic barriers and restrictions in investment projects through digitalization and remote provision of public services.
• An investment policy strategy is being developed for the most promising sectors of Uzbekistan, which can become a point of technological progress in the future and lay a foundation for development of the country's production capacity for the next 20-30 years.
In summary, considering that the investment climate in our country affects all areas of activity in the country, the scope of reforms covers economic, institutional, education, health, agricultural, water supply, energy, transport and other areas. Also, based on the experience of developed countries, we believe that it is necessary to provide incentives, subsidies, develop public-private partnerships to support export-oriented enterprises in order to improve the investment climate in the country.
References
1. Jiyun Cao, Arijit Mukherjee Foreign direct investment, unionized labor markets and welfare International Review of Economics & Finance Volume 58, November 2018, Pages 330-339 https://www.sciencedirect.com/ science / article / pii / S105905601730878X
2. Zenchenko S.V., Shemetkina M.A. (2007) «Investment potential of the region». Collection of scientific works. Northern Caucasus STU. Series "Economy". No. 6. 153-pg. 9. M
3. Preobrajensky B.G., Treshchevskiy Yu.I., Movsesova M.G. Comparative analysis of foreign and Russian experience of the state cooperation to improvement of investment climate of the territories // Region: systems, economy, management - 2008. -№2. - pg.56-63.
4. Sapojnikova E.Yu. A role of foreign investment in the economy of China. [Electronic resource] / URL:
http://www.chinaruslaw.com/RU/InvestCN/005/20051 119220924_9917566.htm
5. Resolution of the Ministers Cabinet of the Republic of Uzbekistan dated August 29, 2020 under
No.526 "On measures to restore economic growth and continue systematic structural reforms in sectors and industries of the economy in 2020-2021". https://lex.uz/docs/4978202
6. https://kun.uz/news/2020/07/22/togridan-togri-xorijiy-investitsiyalarning-umumiy-investitsiya-hajmidagi-ulushi-295-foizgacha-osgan
7. Based on the data of the Statistics Committee of the Republic of Uzbekistan. https://stat.uz/uz/rasmiy-statistika/investments
8. http: // www.zamin.uz
К ВОПРОСУ О ВЫБОРЕ СТРАТЕГИИ ПРИ ИНТЕГРИРОВАННОМ ПЛАНИРОВАНИИ ЦЕПИ
ПОСТАВОК
Таишева Г.Р.,
Доктор экономических наук, профессор кафедры «Логистика»
ЧОУ ВО «Казанский инновационный университет имени В.Г. Тимирясова», г. Казань, РФ
Исмагилова Э.Р., Старший преподаватель ЧОУ ВО «Казанский инновационный университет имени В.Г. Тимирясова», г. Казань, РФ
Шакиров А.Т.
Магистрант ЧОУ ВО «Казанский инновационный университет имени В.Г. Тимирясова», г. Казань, РФ
ON THE CHOICE OF STRATEGY IN INTEGRATED SUPPLY CHAIN PLANNING
Taisheva G.,
Doctor of Economics, Professor of the Department of Logistics, Kazan Innovative University named after V. G. Timiryasov, Kazan, Russia
Ismagilova E., Senior Lecturer
Kazan Innovative University named after V. G. Timiryasov, Kazan, Russia
Shakirov A. Master's student
Kazan Innovative University named after V. G. Timiryasov, Kazan, Russia
Аннотация
В данной статье рассмотрены особенности выбора стратегии при интегрированном планировании цепей поставок участниками движения материальных, финансовых и информационных кадровых потоковых процессов. Рассмотрены особенности выбора стратегических направлений деятельности участниками цепи поставок.
Abstract
This article discusses the features of choosing a strategy for integrated supply chain planning by participants in the movement of material, financial and information flow processes. The features of the choice of strategic directions of activity by the participants of the supply chain are considered.
Ключевые слова: стратегия, цепи поставок, логистика, потоки.
Keywords: strategy, supply chains, logistics, flows.
Логистика является важнейшей составляющей управления, направленного на минимизацию затрат и оптимизацию материальных, информационных, финансовых, кадровых (человеческих) потоков. Логистика подразумевает под собой доставку того или иного товара или же услуги из одной точки в другую с максимальной эффективностью. Исследование цепей поставок подразумевает анализ большого количества факторов [2] способствующих движению потоковых процессов финансового, материального, информационного, кадрового характера. Дадим краткую характеристику каждого из них.
Информационные потоки в логистики подразумевают под собой составляющую логистики информационной направленности, характеризующие совокупность различных сведений, которые могут быть зафиксированы, преобразованы, переданы, проанализированы и использованы. В зависимости от направления связи информационные потоки могут быть горизонтальными - сообщения передаются между партнерами одного уровня. Вертикальными - поток информации идет от руководства к подчиненным. А также внешними и внутренними информационными потоками в зависимости от места из происхождения. Входными и
