MECHANISMS FOR ENHANCING INVESTMENT ATTRACTIVENESS THROUGH THE EFFICIENT USE OF REGIONAL NATURAL RESOURCES

Аннотация

This article comprehensively examines the mechanisms of efficient use of
natural resources and enhancement of investment attractiveness within the regional economic
system. Under conditions of globalisation, climate change, and the rising priority of ESG
investments, the conversion of regions' natural resource potential into economic growth and human
capital development has become a pressing scientific and practical problem. The aim of the
research is to scientifically and methodologically substantiate the relationship between a region's
natural resource potential and investment flows, as well as to develop comprehensive mechanisms
for enhancing resource-based investment attractiveness. The study applied a combination of
SWOT analysis, correlation and panel regression analysis (Fixed Effects model), cluster analysis
(k-means algorithm), comparative analysis, and Dunning's eclectic paradigm (OLI). Official
statistical data for 14 regions of the Republic of Uzbekistan for 2018–2024 and 98 observation
units were analysed. The results revealed a statistically significant positive correlation between the
natural resource endowment coefficient and the volume of foreign direct investment (r=0.712;
p<0.01); however, institutional quality (β=0.624) and infrastructure (β=0.738) indicators exert
stronger influence than natural resources themselves. The scientific novelty lies in the development
of a twelve-indicator Resource-Investment Efficiency Score (RIES) index, the classification of
regions into four clusters, and the proposal of a five-stage "Resource–Institution–Investment–
Innovation–Integration" (R3I2) mechanism. The findings have practical significance for shaping
regional economic policy, attracting inclusive green investments, and developing strategies to
avoid the "resource curse" syndrome.