Application of TOPSIS, VIKOR and COPRAS for ideal investment decisions

Abstract

An increase in investment is required to support the growth and expansion of the industrial sector in a given country. But the planning and ranking of investments must consider financial resource constraints, high investment risk, the frequency of needs and goals, as well as an unfavorable pattern of investments in the production sectors and industries. To ascertain ranking and economic viability for the investment sectors, this study used optimization techniques called TOPSIS, VIKOR, and COPRAS. From 2020 to 2022, this study was conducted for the Debre Berhan City Administration. The study's findings include investment criteria and outline the importance of certain investment areas. The final findings of this study show that, according to TOPSIS, VIKOR, and COPRAS, the current industrial investment pattern is not ideal investment priorities need to be changed. As a result of the above three optimization techniques; spinning, weaving, and finishing of textile fabric’s sector have been ranked first.

Keywords

• copras
• ranking investment sectors
• statistical mcdm tools
• topsis