CC BY
5
UDK: 08.00.05
Avazov N. Rustam O'g'li student of TSUE Abdurakhmonov M. Rakhmatjon O'g'li
student of TSUE
SHAPING THE INVESTMENT CLIMATE IN THE DIGITAL ECONOMY
Abstract: This article discusses the necessary conditions for the development of the economy and investment activity
Key words: State, economy, conditions, climate, investment, region, form
A prerequisite for the development of the economy is high investment activity. It is achieved through an increase in the volume of investment resources sold and their most effective use in the priority areas of material production and the social sphere. Investments form the production potential on a new scientific and technical basis and predetermine the competitive position of countries in world markets.
In world practice, there are three main forms of investment:
• real (capital-forming) investments;
• portfolio investments;
• investments in intangible assets.
Real (capital-forming) investments are investments in real assets, i.e. in the creation of new ones, the reconstruction and technical re-equipment of existing enterprises, industries, production lines, various production and social services facilities with the aim of increasing fixed assets or current assets.
Portfolio investments are investments in the purchase of securities of the state, enterprises, banks, investment funds, insurance and other companies. In this case, investors do not increase their production, but financial capital, earning income from ownership of securities. At the same time, real investments of funds spent on the purchase of securities are made by enterprises and organizations issuing these securities.
Investments in intangible assets include investments aimed at acquiring licenses, patents for inventions, certificates for new technologies, trademarks, certificates for products and production technology and other intangible assets. Investments in the economic literature by the nature of participation in investing are usually divided into:
a) direct investment - direct investment by an investor in investment objects (this type of investment is carried out mainly by trained investors who have sufficiently accurate information about the investment object and are well acquainted with the investment mechanism);
b) indirect investment - investment mediated by other persons (investment or financial intermediaries). These investments are made by investors who do not have sufficient qualifications to select investment objects and further manage them. In this case, they acquire securities issued by investment or other financial intermediaries, and the latter, so collected investment funds are placed at their
discretion - they choose the most effective investment objects, participate in their management, and then distribute the received income among their clients.
For many states, emerging from economic and social ill-being, a large role is played by the attraction of foreign capital in the form of direct investments, portfolio investments and other assets.
Investments play an important role, both at the macro and the micro level. In fact, they determine the future of the country as a whole, of a separate business entity and are the locomotive in the development of the economy.
At the moment, the Russian economy is experiencing a deep crisis, which affects all spheres of life of Russians and, first of all, the social sphere, which in turn causes social tension in society. Investments are called upon to help the state in overcoming the economic crisis. Investments are intended to raise and develop production, increase its capacities, and technological level.
The problem of investments in our country is so urgent that talk about them does not cease. This problem is relevant, first of all, by the fact that investments in Russia can make a huge fortune, but at the same time, the fear of losing invested funds stops investors. The Russian market is one of the most attractive for foreign investors, but it is also one of the most unpredictable, and foreign investors rush about from side to side, trying not to miss their piece of the Russian market and, at the same time, not to lose their money. At the same time, foreign investors are guided primarily by the investment climate in Russia, which is determined by independent experts and serves to indicate the effectiveness of investments in a particular country.
Solving the problem of attracting investment requires the creation of special conditions for the organization of investment activity, effectively ensuring the attraction and targeted use of invested funds. Therefore, the question of the investment climate in Russia, the conditions and factors of its formation, is currently coming to the fore and is very relevant.
The objectives of this work are to conduct a study of the investment climate in Russia, the factors that shape it and influence it, as well as assess its current status. The purpose of this work is to identify and evaluate the conditions created for investment activity, as well as to identify the problems of the existing investment climate and attractive areas for external and internal investments.
The concept of "investment climate" characterizes the degree of favorable situation in a particular country (region, industry) in relation to investments that can be made in a country (region, industry). The financial dictionary gives a more complete definition: the investment climate is a set of political, socio-cultural, financial, economic and legal conditions that have developed in any country (region, industry) that determine the quality of the business infrastructure, investment efficiency and the degree of possible risks when investing capital.
Currently, questions about investment attractiveness are becoming increasingly important, becoming socially necessary and important. Economists, politicians and other specialists in various fields link the stabilization of the economy and sustainable economic growth in the regions with the provision of the
necessary investment in the real sector of the economy. Some experts attach more importance to investments, directly linking them to the solution of all national and regional problems, others - less, recognizing the existence of inefficient investments, but also considering them as a great blessing, as they "create an investment infrastructure and pave the way for effective investments."
Investments in Russian law include cash, securities, other property, including property rights, other rights having a monetary value, invested in objects of entrepreneurial and (or) other activity in order to make a profit and (or) achieve another useful effect.
In international practice, the investment attractiveness or investment climate of a territory is usually understood as the aggregate of non-commercial risks of an investor coming to a given country or region and implementing an investment project.
Climate is the concept of a market economy, an abstract image of effective investment of capital for entrepreneurs who seek maximum profit in their economic behavior. In other words, the investment climate is a typical example of a specific product that has appeared on the market in connection with the needs of investors who choose the most profitable object from their point of view for investing free investment resources. Objectively, the investment climate represents the general conditions for all investors to carry out investment activities.
We must not forget that the investment climate depends on the investment climate created on the ground by entities and local administrations. Nevertheless, the progressive movement of Russia along the path of improving the investment climate can form investors' expectations that today the situation is better than yesterday, and tomorrow it will be better than today.
Literature:
1. Harrod R. Toward a Theory of Economic Dynamics. New findings of economic theory and their application in economic policy. Keynesian classics. T.1. M., 1997
2. Yaskova N.Yu. Models and basic conditions for attracting foreign investment. Dubna, 1998
3. Yarnykh S.M. The development budget and the formation of the investment policy of the subject of the Federation. // Finance. 2000
4. Folomev A., Revazov V. The investment climate of the regions and ways to improve it. // Issues of economics. 1999
