PROSPECTIVE WAYS OF ATTRACTING FOREIGN INVESTMENT TO THE NATIONAL ECONOMY

Аннотация

This article provides relevant information on the promotion of foreign investment in the national economy through taxes, as well as the ways of attracting foreign investment in the national economy and the conclusion and suggestions for the promotion of their development through taxes. Keywords:national economy, investments, foreign investments, tax. The phased implementation of economic reforms in our country and the fact that the state is the main reformer is one of the unique characteristics of our country's transition to a market economy. This process requires making numerous decisions regarding the regulation of investment activities. "Establishing strong ties with foreign investors interested in working with Uzbekistan, assisting them from the beginning to the end of the project, and, simply put, leading them by the hand to ensure results," said Shavkat Mirziyoyev. It is impossible to achieve stable economic growth, renewal of fixed capital, and structural changes in the entire investment and financial sector without properly organizing investment activities in economic sectors, attracting domestic and foreign investments, and efficiently utilizing them. Therefore, the state regulates thesereforms. Foreign investments play a crucial role in the development of the country and the improvement of its economic situation. Under the conditions of Uzbekistan's securities market, in order for capital attraction mechanisms to function within the production sphere, particularly in privatized enterprises, opportunities have been created to ensure that stock price dynamics follow a voluntary growth trajectory in the long and medium term without speculative fluctuations that could disrupt market stability. From the perspective of issuers, the increase in market value of shares is a preferable form of rewarding shareholders compared to dividends since the capitalization of the income earned by the issuing company increases its capital, which isessential forissuing newsecurities. On one hand, in the absence of a forward-moving trajectory of high market-priced shares for issuing companies, rewarding investors in the form of dividend payments is advantageous. If dividends are the primary source of income for shareholders, a plan for secondary issuance of shares may provoke a negative reaction from many shareholders. On the other hand, the interests of long-term strategic investors, mainly institutional investors, align with the stable growth of dividends. Thus, within the securities market, a balance between a conscious dividend policy and stock valuegrowth policy shouldbeestablished. To enhance the efficiency of foreign investments, positive transformations in the stock market are necessary. The primary characteristic of the securities market is the availability of a wide range of financial instruments that increase the ability to accumulate funds. However, the market structure, characterized by large stock packages and an insignificant volume of freely traded shares, as well as the established trends in emission, dividend, investment, and corporate policies, reduce the number of available instruments. These instruments are attractive from an investmentstandpoint. page137 INTERNATIONAL JOURNAL OF ARTIFICIAL INTELLIGENCE ISSN:2692-5206,ImpactFactor:12,23 AmericanAcademicpublishers,volume05,issue02,2025 Journal: https://www.academicpublishers.org/journals/index.php/ijai It is necessary to expand the share of corporate stocks in the overall securities structure and to introduce trading in corporate securities that are not yet widely known in Uzbekistan (various types of attractive stocks, stock options, convertible bonds, etc.). These securities allow for investment risk diversification and facilitate the attraction of substantial capital. The volume of secondary share issuance should significantly increase and substantially enhance the current level of investments in fixed capital. Currently, local stock markets remain relatively illiquid and offer a limited selection of investment opportunities. Nevertheless, recent times have witnessed positive developments within the framework of proper investments (differentiated ownership of large packages by strategic foreign funds) and capital inflows, although the infrastructure disproportionsof theUzbeksecurities market persist. Despite positive changes in corporate governance practices, increased transparency of enterprises, and the preparation of reports in accordance with international standards, Uzbekistan is still perceived by many investors as a highly risky investment destination. This is partly due to a significant time lag between the actual improvement of the economic situation in the country andtheobjective transformation of itsimage from theperspectiveofpotential and real investors. The statehas significant work aheadto improve theinvestment climatein the country and create favorable conditions for attracting long-term foreign investments. According to current anal