This article analyzes the importance, scientific, theoretical, and legal foundations for attracting investment in innovation. Investment is viewed as a key factor in transforming scientific ideas into new products and technologies. Scientific and theoretical approaches to the relationship between investment and innovation (Schumpeter, Drucker, the concept of national innovation systems, and endogenous growth models) are discussed. The legislative framework of the Republic of Uzbekistan is examined from a legal perspective, including the Laws "On Investments and Investment Activities" (2019), "On Innovation Activities" (2020), and the Innovative Development Strategy for 2022-2026. Venture capital financing mechanisms, regulatory testing platforms for startups, and international experience are discussed. The need for a comprehensive approach combining government support, private capital, and legal guarantees to ensure sustainable innovative growth is emphasized.

This article explores the necessity of introducing an Islamic finance system in Uzbekistan, as well as analyzing the current legal frameworks and institutional environment. Islamic finance operates in accordance with Sharia principles, which prohibit interest (riba), gambling (maisir), and excessive uncertainty (gharar). Although Islamic finance is a relatively new concept in Uzbekistan, the demand for fair, ethical, and Sharia-compliant financial services is steadily increasing, particularly among the predominantly Muslim population. The article examines the core principles of Islamic finance and highlights financial instruments such as sukuk, mudarabah, and musharakah. It also discusses the legal mechanisms required to implement them effectively. The existing gaps in national legislation, the insufficient development of regulatory bodies, and international best practices are assessed in the context of Uzbekistan. Finally, the article proposes conceptual recommendations to support the establishment and sustainable growth of an Islamic financial system in the country.

The article provides a brief description of the state of the economy of Uzbekistan and the relevance of its further development associated with the creation and use of innovative products. The highest concentration of startup initiatives is shown in such industries as IT, FinTech, E-commerce, EdTech, AgriTech, MedTech. Most startups and resources are concentrated in the city of Tashkent and large cities  like Samarkand, Bukhara and Fergana. The factors hindering the formation of a full-fledged startup ecosystem in the country and its regions are shown. Particular attention is paid to the problem of startup financing. Weak investment support at the initial stage of startup development, the low level of venture infrastructure and the legal framework for venture capital are emphasized. The evolution of the startup ecosystem in Uzbekistan is presented, starting with support for entrepreneurship and ending with the creation of a state system of venture funds. The development of the startup ecosystem in Uzbekistan is associated with the need to improve the legal framework, create a favorable business infrastructure, and introduce new mechanisms for financial and legal support. Proposals for the further development of innovation and the startup ecosystem in Uzbekistan have been systematized.

This article analyzes the legal foundations for implementing the mandatory digital product labeling system in the Republic of Uzbekistan. Based on presidential decrees and resolutions, as well as decisions of the Cabinet of Ministers, the legal norms and practical mechanisms of this system are examined. The article also reviews the current state of digital labeling legislation, the effectiveness of monitoring and liability mechanisms, and proposes recommendations for further improvement. The results of the analysis demonstrate that digital labeling plays a significant role in the development of the digital economy and in combating the shadow economy.

This article examines the issues of improving the methodology of financing innovative projects through venture funds. Based on the experience of the United States and Western European countries, the main mechanisms of venture financing, methods of attracting investors, and government support measures are studied. Additionally, proposals are developed for institutional changes, improvement of the legal framework, and expansion of public-private partnerships to enhance venture financing in Uzbekistan. The research results aim to support innovative entrepreneurship in the country and improve the process of attracting venture investments.

Today, within the framework of the tax administration, optimization of the structure of taxes, their collection, improvement of the mechanism of tax accounting and reporting, correct calculation of taxes, timely and full payment, the right of taxpayers established in the tax legislation and monitoring compliance with obligations, distribution of tax revenues between budgets of different levels, collection and analysis of results, implementation of extensive measures to harmonize tax relations of all participants in the taxation process are being conducted. Also, it is more convenient for business entities that pay taxes on time and operate in compliance with legal requirements to ensure the implementation of the priority tasks set in the framework of the open dialogue of the President with entrepreneurs held on August 18, 2023. in order to create conditions and encourage them, by introducing digital technologies to the tax administration, expanding the tax base, and some important reforms implemented in the tax system are studied, foreign experience, scientific and practical conclusions on its application in our country, and proposals are developed.

This paper proposes a four-dimensional risk index model for designing internal audit programs in the public sector. The model integrates legal, financial, resource, and organizational risks to provide a comprehensive framework for risk-based audit planning. Through simulation involving hypothetical departments, the study demonstrates that aggregate risk scores can mask the diversity and specificity of underlying risk categories. By decomposing audit risk into distinct dimensions, the model enhances audit targeting, supports transparent decision-making, and aligns with international internal audit standards. It also proves particularly useful in environments with limited data availability. The model’s adaptability and clarity make it suitable for both manual and automated audit planning processes. While future enhancements could include dynamic weighting and digital integration, the model as presented already offers a robust and practical approach to prioritizing internal audit activities and improving public sector governance outcomes.

This article analyzes the stages of formation and development of the electronic procurement mechanism, as well as the economic, technological, and institutional factors influencing this process. The scientific approaches of foreign scholars are generalized, and the legal foundations of the electronic public procurement system in the Republic of Uzbekistan are examined within the framework of the Law of the Republic of Uzbekistan No. ZRU-684 dated April 22, 2021, “On Public Procurement.” Based on the results of the research, scientific and practical proposals for improving the electronic procurement mechanism have been developed

The article provides an in-depth analysis of the role of social entrepreneurship in modern society and its importance in ensuring economic and social stability. The study examines trends in the development of social entrepreneurship, mechanisms of state support, subsidies and practical experience based on preferential lending in Uzbekistan. A deep analysis of the main problems hindering the development of social entrepreneurship was also conducted - gaps in legislation, low financial literacy, slow implementation of innovative technologies. The article develops a number of practical proposals and recommendations based on existing opportunities aimed at creating an institutional framework for the sector, strengthening legislation and stimulating social innovation.

This article analyzes the “Business Entity Stability Rating” system implemented in Uzbekistan as part of efforts to enhance digital fiscal governance. The evaluation process is based on automated algorithms that assess legal entities through indicators such as tax discipline, financial transparency, documentation accuracy, and social responsibility. The study examines the correlation between rating indicators and actual economic performance, highlights sectoral and regional disparities, and explores methodological differences with the “CRM-NEW” monitoring system. Using the Kruskal–Wallis H test, a statistically significant relationship is identified between rating categories and tax risk levels, supporting the reliability of the assessment framework. The paper concludes with conceptual and practical recommendations for improving the rating mechanism.

This article examines the digital transformation of Islamic financial instruments, the methodological framework for their implementation in Uzbekistan, and their alignment with international best practices. The study demonstrates that digital technologies including blockchain, smart contracts, tokenization, e-KYC, and API integration enhance transparency, operational efficiency, and Shariah compliance in Islamic financial operations. A comparative assessment of Malaysia, the UAE, and Saudi Arabia provides insights into the legal, technical, and methodological requirements needed to develop a national digital Islamic finance model. The findings highlight the importance of establishing digital Shariah audit mechanisms, defining the legal status of smart contracts, developing tokenization regulations, and creating a Shariah-compliant fintech ecosystem to ensure sustainable sectoral development

In this article, foreign experiments of the development of innovative-investment entrepreneurship and their possibilities of application in the conditions of the national economy are scientifically-theoretically covered. In the current process of globalization, the introduction of innovations and the effective management of investments have become an important factor in economic development. Foreign experience shows that in the development of innovative-investment entrepreneurship, financial mechanisms, the perfection of the legal base, the initiative of entrepreneurs and the high level of scientific potential occupy an important place. The implementation of these experiences in the national economy makes it possible to develop innovative infrastructure, form a venture capital market, stimulate the private sector and support the activities of startups. At the same time, it is necessary to adapt foreign experience to national conditions, effectively use existing resources and improve the national innovation system. This article will analyze foreign experiences and highlight the mechanisms of their implementation for the Uzbek economy, as well as provide theoretical and practical directions for the development of national innovative and investment entrepreneurship.

This article analyzes the issues of establishing a competitive environment in the public procurement system. It examines Uzbekistan’s legal framework, the role of electronic procurement platforms, and digitalization processes aimed at improving transparency and efficiency in tender procedures. The paper also explores existing challenges, such as non-transparent procurement, affiliated companies, and lack of open data. Based on international experience, the study proposes practical recommendations, including the use of blockchain, automated evaluation technologies, and the strengthening of public monitoring.

This study is devoted to the analysis and improvement of organizational and economic mechanisms for the effective attraction and management of investment projects in the accelerated development of the tourism sector in Uzbekistan. Despite the fact that the reforms being carried out in the field of tourism, the rich cultural and historical heritage and natural resources of the country create wide opportunities for investors, there are still certain problems in the organizational mechanisms, legal framework, and institutional environment for ensuring investment activity. The study thoroughly analyzes the factors hindering the implementation of investment projects related to tourism, in particular, the difficulties in preparing project engineering documentation, long-term formalization in the process of land allocation, insufficient financial guarantees, and the problems of coordination between local authorities and the private sector.

This article discusses the challenges of increasing the assets of commercial banks in Uzbekistan and ways to accelerate their activities in the national economy. During the ongoing reform of the financial sector, several measures have been implemented to create the necessary legal framework for maintaining a strong banking industry and fostering competition. The article also presents the existing challenges in increasing the volume of bank assets and the author's proposed solutions.

The article considers new elements of regional development strategy with a focus on institutional and methodological aspects of planning socio-economic progress. Special attention is paid to the role of public participation in the processes of development and implementation of strategic documents, including such mechanisms as public hearings, expert consultations, focus groups, digital platforms of e-governance and, in particular, civic budgeting. The author analyzes both theoretical foundations and practical examples of the introduction of such tools in international practice (Brazil, Spain, France, China) and the prerequisites for their application in the Republic of Belarus. The author presents the key directions for improving the system of strategic planning at the regional level: legal framework, institutional infrastructure, approval procedures, monitoring and evaluation, as well as identifies the existing institutional barriers. It is demonstrated that strengthening the role of civil society and introduction of mechanisms for direct participation of the population in the distribution of budgetary resources contribute to increasing the transparency of public decisions, strengthening trust in the authorities and more accurately reflecting the interests of the local population. The conclusion is that it is necessary to integrate new approaches into the current system of state planning to ensure sustainable and balanced of regional development.

The insurance market of Uzbekistan faces several problems and shortcomings that are among the main reasons for the reduced efficiency of this sector of the economy. This article is aimed at studying the existing deficiencies in the insurance services system and developing recommendations for their resolution. It analyzes issues such as the underdevelopment of insurance services, a regulatory and legal framework that does not meet international standards, and several other challenges. Additionally, practical proposals are presented to increase public trust in insurance, implement innovative technologies, and adopt foreign experience. The article highlights pressing issues aimed at developing the insurance sector.

International Financial Reporting Standards (IFRS) have become an integral part of the global economy today. Their main purpose is to ensure a unified approach to the preparation of financial statements, facilitate their comparability on an international level, and increase transparency for investors. International financial reporting standards have been adopted by many countries, which is of great importance for coordinating business processes, evaluating the effectiveness of company operations, and standardizing financial information. At the same time, adapting the accounting system to international standards is crucial not only for meeting legal requirements but also for enhancing competitiveness in business processes. This article discusses the integration of international financial reporting standards into the accounting system, their essence and benefits, as well as the implementation process and the experience of international countries

This article examines the scientific foundations of the methodology for determining the value added tax base on a margin basis. It analyses the substance of the margin approach introduced in Uzbekistan from 2026, its legal and methodological foundations, as well as the main practical problems and ways to address them. The study proposes the necessary conditions for the effective application of the margin-based tax base, an algorithm for VAT calculation, and a five-criteria filter for extending this approach to other segments. It also discusses the experience of the European Union and the United Kingdom, focusing on fiscal neutrality, documentation discipline, and control indicators in the application of the margin scheme. The article develops conclusions and proposals aimed at the scientifically grounded improvement of the margin-based VAT base methodology in Uzbekistan

This article examines the benefits of developing public utility management, the importance of improving the quality of public utilities for ensuring public well-being, raising living standards, and providing high-quality services. It primarily highlights examples of government regulation of the public utilities sector and the importance of laws of the Republic of Uzbekistan, presidential decrees, and government resolutions in this area, which define the legal framework for services such as water supply, heat supply, gas and electricity, and waste disposal

The article analyzes the potential of the “green sukuk” instrument for financing sustainable development in Uzbekistan. It examines the country’s economic and financial situation, the current state of Islamic finance and the sukuk market, as well as the theoretical foundations of green sukuk. The study also identifies the challenges associated with introducing this instrument and outlines its prospects. Scientific conclusions and practical recommendations are provided regarding the implementation of green sukuk, including the development of an appropriate regulatory and legal framework.

This article examines the theoretical foundations and conceptual approaches to strategic innovation management and its role in the modern economic system. The essence and content of the concept of "innovation" are analyzed, and various scientific interpretations defining innovation as a process, result, system, tool, and change are systematized and compared. The study also explores the specific features of strategic innovation management in entrepreneurial entities, key factors in the formation of innovation potential, and the regulatory and legal framework. The article analyzes the views of both domestic and foreign scholars (Komarov, Komkov, Asimova, Glazyev, OECD/Eurostat, and others) and substantiates the importance of systemic and evolutionary approaches in innovation management

This article conceptualizes art tourism as an emerging field at the intersection of culture, creative industries, and visitor experience. Based on content analysis of international/local scholarship (MacCannell, Bourdieu, Florida, Richards) and Uzbekistan’s policy framework (2024 Creative Economy Law), an integrative model is proposed linking: (1) theoretical–legal foundations; (2) practical formats; (3) territorial–urban contexts; and (4) psychosocial functions. The model identifies five features: centrality of aesthetic experience, active participation, artist–audience interaction, embeddedness in the creative economy, and convergence of socio-cultural, economic, and aesthetic value. Uzbek cases (Savitsky Museum, Human House, Art Station, biennials) show institutionalization. Recognizing art tourism as a distinct segment provides a basis for service quality assessment enriched with experiential and affective indicators.

This article analyzes the characteristics and development prospects of entrepreneurial activity in the healthcare system of the Republic of Uzbekistan. Based on the current regulatory and legal framework, including the Law “On Healthcare” (1996), the Law “On Public-Private Partnership” (2019), the “New Uzbekistan Development Strategy” (2022–2026), as well as presidential decrees, the priority directions for improving the entrepreneurial sector are outlined. The study highlights the main challenges hindering the growth of private healthcare, such as bureaucratic procedures, a shortage of qualified personnel, and limited financial resources. It emphasizes the necessity of integrating entrepreneurial entities into the system of mandatory health insurance, supporting new initiatives in the regions, and introducing innovative technologies. In conclusion, it is argued that the synergy between state policy and private initiative plays a crucial role in ensuring the stability and competitiveness of the healthcare system.

This article analyses the use of electronic money in Uzbekistan, as well as the factors influencing its development and the existing challenGES. Although the adoption of electronic payment instruments has significantly increased in recent years due to the growth of the digital economy, several constraints—including insufficient infrastructure, low digital literacy, and limited trust in the banking system—have been identified as slowing down this process. The study provides a comparative analysis of the experiences of Uzbekistan, Turkey, and Kazakhstan, and presents statistical data on chanGES in total bank deposits, the share of electronic money, and term deposits from 2017 to 2024. The findings indicate that despite the rise in the use of electronic money, its share within total bank funds has decreased. These trends are shown to be closely related to the development of digital infrastructure, security systems, digital literacy, and government regulatory policies. The author emphasizes the need to expand infrastructure, strengthen security measures, improve digital literacy, and enhance the legal framework to further promote the development of the electronic money market