Программа инвестиционная привлекательность в обеспечении

According to the Law of the Republic of Uzbekistan “On investments and 
investment activity” (2019) investments 
are tangible and intangible assets and 
rights to them, including intellectual property rights, as well as reinvestments, 
invested by an investor based on risks in social facilities, entrepreneurial, scientific 
and other activities for profit [2]. Paygamov (2012) emphasizes that investment 
potential and its formation in modern conditions reflects, first of all, the system of 
investment opportunities of industrial enterprises and other forces, including 
entrepreneurial resources which are describes in Figure 1[3]. 
Following Khashimova (2019) human potential, demographic and labor 
potential, education, and human resources are important aggregates of the 
investment potential, which is described in Figure 2 [4]. 
Figure 1. The scheme of formation of the investment potential 
Investment potential and the factors that increase it have been studied by many 
local and foreign researchers until this day, and human resources are also promoted 
by many researchers as one of the factors that enhance the investment potential. As 
an example, Snieska and Zykiene (2015) studied and concluded that in many cases 
the choice of the city for investment was influenced by the accessibility of skilled 
workforce and its costs, the resource price, and competition in the market [5]. 
According to KPMG (2018) identified several investment criteria, namely:
Investment potential 
Investment 
opportunities 
Entrepreneurship 
opportunities 
Production forces 
Investment 
resources 
Innovation 
opportunities 
Financial 
resource of 
enterprise 
Credit 
resources 
Profit of 
enterprise 
Intangible 
assets 

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1) Political Stability and Juridical Security; 2) Infrastructure; 3) Availability of 
Human Resources Skills; 4) Economic Growth, 5) Market Accessibility and Size; 6) 
Living Cost, Salaries and Tax Level; 7) Availability and Cost of Real Estate; 8) 
Quality of Education; 9) Quality of Life; 10) Quality of Research and Innovation; 
11) Start-Up [6]. Windhyastiti et al., (2019) found that to attract investors, a city 
must increase its selling power both in terms of economic factors such as high 
growth rates, availability of skilled labor, market potential, and in terms of 
infrastructure and ease of licensing processes [7]. McDonald and Bailly (2017) state 
that for investors, the characteristics of the city that have the highest value are: 1) a 
strong city economy with growth potential, a highly-skilled workforce, and resilient 
to economic downturns and external shocks; 2) excellent transport connections, both 
within and beyond the city (nationally and internationally), as well as a transport 
system that can keep up with an expanding economy; 3) pro-investment city 
leadership which prioritizes investment has consistent policies and attitudes, high 
profile, and bargaining power with central government; and 4) a focus on delivery, 
with a responsive, pro-investment planning system, a team with access to investment 
expertise, and willingness to step in where necessary to facilitate investment [8]. 
More skilled workers have greater ‘functional flexibility’ at work as their greater 
stock of knowledge increases the rate at which they learn and develop higher-order 
problem-solving skills [9].