Совершенствование системы оценки инвестиционной привлекательности регионов

Автор: О. К. Акрамова

Журнал: Informatics. Economics. Management - Информатика. Экономика. Управление.

Статья в выпуске: 3 (2), 2024 года.

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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.

Инвестиционная привлекательность, методы оценки инвестиционной привлекательности, система оценки, инвестиционный потенциал, инвестиционный риск

Короткий адрес: https://sciup.org/14129608

IDR: 14129608 | DOI: 10.47813/2782-5280-2024-3-2-0115-0125

Текст статьи Совершенствование системы оценки инвестиционной привлекательности регионов

DOI:

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

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 (IS 1 )	Area space percentage (IS 1.1 )	It shows the share of the area of the region in the area of the region	^IS 1^J" M M_h -area space, M_v -area of the region
	The share of arable land (IS 1.2 )	It shows the share of agricultural land in the total land area	IS- Mr M q/ _X -agricultural arable land
	Population density (IS 1.3 )	Population per 1 sq.km., people	It is given in the data of the Statistics Department of Bukhara Region
Potential of labor resources (IS 2 )	The share of labor resources in the total population (IS 2.1 )	It shows the share of labor resources in the total population	, MRS MS 2.1 = ^ S MRS– the number of labor resources A s -the population

Type of competence	Indicators	Characteristics	Calculation formula
	Share of the economically active population in the total population (IS 2.2 )	It shows the share of the economically active population in the total population	IFA-economically active population A s –population number
	Share of employment in labor resources (IS 2.3 ).	It shows the share of the number of employees in labor resources	IS23 = — ^2.3 MRS BS-jobs number, MRS– labor resources number
	Natural growth (IS 2.4 )	It shows the level of natural growth	It is given in the data of the Statistics Department of Bukhara Region
Infrastructure potential (IS 3 )	Share of apartments (houses) (IS 3.1 )	The area shows the share of apartments (houses) in the region	IS₃ 1 = ~ ^. A_V K h -number of of apartments (houses) in the region K v -number of of apartments (houses) in the region
	Housing area per person (IS 3.2 )	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 (IS 3.3 )	The share of the total area of the regional housing fund in the region	is^ 3 =£ UJ_h — total area of the housing fund UJ_V — total area of regional housing fund
	Level of drinking water supply (IS 3.4 )	Provision of drinking water	It was taken from the indicators of the regional passport.
	Level of gas supply (IS 3.5 )	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 (IS 3.4 )	Indicates the level of provision of hard roads	is₃₄ = ^Y.^Y ^3.4 Л₅ 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 (IS 4 )	total investment volume	It shows the volume of total investments per 1000 inhabitants	IS 4.1 = у *1000 IH- the total volume of investments
	Percentage of total investments	It shows the share of regional investments in the region	тс - ^IHh IS = ^4.2 IH IH h - The volume of total investments in the region IH h - 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	IS43 = -*1000 . ^s XI- volume of foreign investment and loans A s - population number
	Share of foreign investments and loans	It shows the share of foreign investments and loans in the region	ТС - XI h IS = ^4.4 XI_V XI h - The volume of foreign investment and loans of the region XI h - The volume of regional foreign investment and loans
Foreign economic activity potential (IS 5 )	export volume	It shows the volume of exports per 1000 inhabitants	IS5 1 = — *1000 . ^ s EH- export volume A s – population number
	Export share	It shows the share of regional exports in the region	TC - EH h IS ⁵.² = eh; XI h - Export volume of the region XI h - Regional export volume
	import volume	It shows the volume of imports per 1000 inhabitants	IS 5.3 = IH * 1000 IH- import volume A s – population number
	Import share	It shows the share of regional imports in the region	TC - IH h IS = ^5.4 IH ; XI h - import volume of territory XI h - Regional import volume

Type of competence	Indicators	Characteristics	Calculation formula
Investment potential of networks
Industrial production output potential (IS 6 )	number of operating enterprises	It shows the number of operating enterprises per 1,000 inhabitants	IS 6.1 = У *1000 KS- number of operating enterprises A s –number of population
	Share of newly established enterprises	It shows the share of newly established enterprises in the region	IS₆ 2 = — ^6.2 VK „ YK h - The number of newly established enterprises in the region YK h - the number of newly established enterprises in the province
	industrial production volume	It shows the volume of industrial production per 1000 inhabitants	IS 6.3 = SH * 1000 SH — industrial production volume A s –population number
	Share of industrial production volume	It shows the share of industrial production volume in the region	IS_{6 4} = — ^6.4 S— SH h - The volume of industrial production of the region SH v - 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 = — *1000 ^ No jv — 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	_ No(v_h IS 6.6 = No/V_v No /" ^ — volume of production of nonfood products in the region No /" ^ — 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	IS 6 7 = ^* 1000 ^ s о/v — food production volume A s – population number
	Share of food production	It shows the regional share of food production volume in the area	_ o/v w IS 6.8 = o/v _v о/у ^ — volume of production of food products in the region о /v ^ — 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	IS 7.1 = ™*1000 SH — Area services volume A s – population number
	Volume of services	The area shows the share of the volume of services in the region	тс - xh ^ ^IS7.2 = XHT. SH h - Volume of regional services SH v - the volume of services of the province
The potential of the agricultural sector (IS₈)	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 A s –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.	_ QXH_h ^IS8.2 QXH . SH h - Area volume of products (services) of agriculture, forestry and fisheries SH v - 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	ТС - ^M ° h IS⁹¹= ттб; SH h - Area services volume SH v - 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	тс _ ST_h ^IS9. ² = ST h - The number of areal cultural heritage objects visited by tourists ST v - 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	тс - ^MS? IS⁷² = ^r_v MS h - The number of hotels and similar means of accommodation (objects) in the area MS v - 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	IS 72 = TT ? TT h - Number of organizations that have carried out tourist activities in the region TT v - the number of organizations that have carried out tourist activities in the province
Innovation activity capacity (IS₁₀)	The share of organizations that have introduced innovations	It shows the share of areal organizations that introduced innovations in the region	^XH ? IS ⁷² = 1^; SH h - the volume of areal services SH v - the volume of regional services
	Share of technological	Hudud texnologik innovatsiyalar	тс - XH ? ^IS7. ²= xh; SH h - 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	SH v - the volume of regional services
Identifying investment risks
economic risks (IX₁)	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.	IX 1.1 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	IX 1.2 It 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.	РУ+0У+15У IX 1.3 = 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	IX 2.1 = z^ ^um T_z —number of organizations that ended the year with a loss T ^rn - total number of organizations conducting business activities
	Share of liquidated enterprises	Share of liquidated enterprises compared to operating enterprises	IR₂=^ ^ . fkk_q TK- liquidated enterprises FKK- the number of operating enterprises
criminal risks (IX )	crime rate	Number of crimes per 10,000 people	„ 7*10000 IR 3.1 = ^A s J-the number of crimes

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

Ach_h 1X41=-^ ' Ach_v

Ach ^ — Pollutants released into the atmosphere in the area Ach y —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.

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