MANAGEMENT MODELS FOR ATTRACTING FOREIGN DIRECT INVESTMENT: INTERNATIONAL EXPERIENCE AND LESSONS FOR UZBEKISTAN

This article compares national models for managing the attraction of foreign direct investment (FDI) through the framework of classical management functions: planning, organising, motivating, and controlling. Global FDI flows recovered by 6% to reach USD 1.6 trillion in 2025, with more than 80% concentrated in the top 20 host economies, highlighting the growing importance of management quality in attracting international investors. China's experience illustrates a planning-led model based on a catalogue of encouraged industries, a negative list, and the regional allocation of capital. Between 2022 and 2025, the volume of utilised FDI in China declined from 1,232.7 billion to 747.7 billion yuan, while the number of newly established foreign-invested enterprises increased from 38.5 thousand to 70.4 thousand. In Uzbekistan, the investment financing structure has shifted from predominantly state-led to market-led sources: the share of centralised investment decreased from 26.6% in 2019 to 10.6% in 2025, while the share of foreign investment reached 47.5%. The article substantiates the need for Uzbekistan to transition from a "state as financier" model to a "state as facilitator" model and proposes management instruments corresponding to each classical management function.