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Implementation of Irish Foreign Direct Investment Policy in Uzbekistan

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  • Shahboz Babaev

    (Anhui Finance and Trade Vocational College, China)

Abstract

It is well known that governments in developing countries such as Uzbekistan are actively looking at ways to improve their FDI policy. Developing nations often look toward other developed countries FDI policy based on its positive effects in the country’s economy. In many ways in this globalised world, if we look around the world and see what policies are successful, there are not many effective policies that could be implemented. However, it is acknowledged within the literature that the main factors influencing FDI policy in Uzbekistan are unfortunately negative. The main aim of this study is to look for possibilities to implement the Irish FDI policy in Uzbekistan. In the process, the study sought to investigate the main factors influencing FDI policy in Uzbekistan. The study also sought to discover the reasons why Uzbekistan should implement the Irish FDI policy. Data was collected using qualitative methods. The research was conducted through the use of semi-structured interviews of two existing government bodies, the IDA Ireland and Uzinfoinvest, and experts and senior managers in Uzbekistan and Ireland. This research concludes that restrictions on currency conversion, uncertainty of the rule of law, corruption and bureaucracy have been preventing multinationals from investing in Uzbekistan. There also appears to be a lack of a good track record of existing long-term companies.

Suggested Citation

  • Shahboz Babaev, 2020. "Implementation of Irish Foreign Direct Investment Policy in Uzbekistan," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 7(4), pages 193-195, April.
    • Handle: RePEc:bjc:journl:v:7:y:2020:i:4:p:193-195
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    References listed on IDEAS

    as
    1. Richard Pomfret, 2000. "The Uzbek Model of Economic Development, 1991–91," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(3), pages 733-748, November.
    2. Barry, Frank & Bradley, John, 1997. "FDI and Trade: The Irish Host-Country Experience," Economic Journal, Royal Economic Society, vol. 107(445), pages 1798-1811, November.
    3. Richard Pomfret, 2003. "Central Asia Since 1991: The Experience of the New Independent States," OECD Development Centre Working Papers 212, OECD Publishing.
    4. Mr. Clinton R. Shiells, 2003. "FDI and the Investment Climate in the CIS Countries," IMF Policy Discussion Papers 2003/005, International Monetary Fund.
    5. Richard Pomfret, 2010. "Central Asia after Two Decades of Independence," WIDER Working Paper Series wp-2010-053, World Institute for Development Economic Research (UNU-WIDER).
    6. Richard Pomfret, 2009. "Central Asia after Two Decades of Independence," School of Economics Working Papers 2009-32, University of Adelaide, School of Economics.
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