Investment Policy Methodologies of Developed Countries and Their Application to the Investment Policy of Uzbekistan

The article examines the methodological foundations of the investment policy of developed countries and the conditions under which these methodologies can be applied to the investment policy of Uzbekistan. The study is based on a comparative institutional analysis of five investment policy models — the Anglo-Saxon market-liberal, the continental coordinated, the Nordic human-capital-oriented, the East Asian developmental and the small open economy niche-attraction model — assessed against ten methodological criteria derived from the OECD Policy Framework for Investment and the UNCTAD Investment Policy Framework for Sustainable Development. The results show that the differences between these models lie less in the generosity of incentives than in the governance of the policy cycle: in all five cases the decisive methodological elements are evidence-based sector prioritisation, cost-benefit appraisal of incentives with sunset clauses, an institutionally autonomous promotion agency, systematic aftercare and counterfactual impact evaluation. A diagnostic assessment of Uzbekistan's investment policy against the same criteria identifies the weakest links as incentive governance, linkage policy and evaluation. On this basis the article proposes a four-filter adaptation algorithm (institutional absorption capacity, fiscal space, structural similarity and sequencing readiness) and a three-level macro–meso–micro adaptation model, complemented by a staged roadmap and a monitoring system with target parameters to 2030. The findings indicate that in the context of the global minimum tax, competitiveness in attracting investment is shifted from tax preferences towards institutional quality, and that this shift defines the priority direction of Uzbekistan's investment policy reform.