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DYNAMICS AND ANALYSIS OF THE ACTIVITY OF ENTERPRISES WITH FOREIGN INVESTMENT PARTICIPATION
Azizbek Abduraxmonov

The article analyzes the measures taken under the "New Uzbekistan" Development Strategy for 2022–2026 to attract investments. It provides quantitative data on the dynamics of foreign and local investments, their efficiency, and distribution. The article examines Uzbekistan-China investment cooperation, the dynamics of foreign direct investments, portfolio investments, and external loans attracted to fixed capital as of 2023. Additionally, it presents an analysis of investment distribution across regions and the top investor countries.

03/28/2025
  • PDF (Uzbek)
20-26 428 139
THЕ RЕLATІОNSHІP BЕTWЕЕN FOREIGN DIRECT INVESTMENT AND CО2 AND ЕCОNОMІC GRОWTH ІN UZBЕKІSTAN
Musobek Samijonov

Thіs study еxamіnеs thе rеlatіоnshіp bеtwееn CО2 еmіssіоns, еnеrgy usе, GDP, GDP squarеd, and fоrеіgn dіrеct іnvеstmеnt fоr Uzbеkіstan bеtwееn 1990 and 2022. Bоund tеsts arе usеd tо cоnfіrm thе еxіstеncе оf cоіntеgratіоn, thе autоrеgrеssіvе dіstrіbutеd lag (ARDL) mоdеl іs usеd tо еxamіnе thе shоrt-tеrm and lоng-tеrm еffеcts оf thе dеpеndеnt varіablеs оn thе іndеpеndеnt varіablе, and fіnally, thе vеctоr еrrоr cоrrеctіоn (VЕCM) mеthоd іs usеd tо іdеntіfy thе causal rеlatіоnshіps bеtwееn thе varіablеs. Thе cоеffіcіеnts fоr еnеrgy cоnsumptіоn and fоrеіgn dіrеct іnvеstmеnts wеrе sіgnіfіcant at thе 10% lеvеl, accоrdіng tо оur rеsеarch. GDP and GDP2 wеrе shоwn tо bе unіmpоrtant varіablеs. Еnеrgy usе has a bеnеfіcіal іmpact оn CО2 еmіssіоns, but FDІ has a nеgatіvе іmpact. Addіtіоnally, іt іs dіscоvеrеd thrоugh causal analysіs that GDP and GDP2 іndіrеctly іnfluеncе CО2 еmіssіоns. Еnеrgy usе and FDІ arе іmpactеd by GDP and GDP2, wіth FDІ latеr bеіng transmіttеd thrоugh CО2 еmіssіоn. Іn оrdеr tо prоmоtе majоr rеnеwablе dеplоymеnt, thе fеdеral gоvеrnmеnt shоuld spееd up іnvеstmеnt pоlіcіеs, tax crеdіts, rеgulatоry actіоns, statе pоlіcіеs, rеsеarch and dеvеlоpmеnt, and markеt trеnds.

05/31/2024
  • PDF
280-292 142 112
ANALYSIS OF INVESTMENTS INTO FIXED CAPITAL (A CASE STUDY OF NAVOI REGION)
Tuxtamurat Urakov

This article covers the investment activity of the Republic of Uzbekistan, the volume of invested investments and their statistical analysis, sources of financing of invested investments, the division of centralized and decentralized investments, invested investments in fixed capital by district by sources of financing, the technological composition of invested investments in fixed capital, invested foreign investments and loans, investments and loans in fixed capital by types of economic activity, the investment policy of Navoi region and its specific features. The effective functioning of the investment market of Navoi region should be constantly and systematically assessed from the point of view of various entities (investors, contractors, customers, design and research organizations), investment objectives, investment demand and supply, and state policy. In this regard, it is appropriate to consider in more depth the problems of the essence and specific features of the investment market, the need to develop effective management solutions in

11/28/2025
  • PDF (Uzbek)
218-226 152 57
CURRENT STATUS AND TRENDS OF INVESTMENTS INTO THE TOURISM SECTOR IN OUR COUNTRY
Gavhar Gavhar

This article analyzes the current state and trends of investment in tourism in Uzbekistan. The volumes and sources of investment in tourism, their role in developing tourism infrastructure and improving the quality of services are considered. Aspects such as domestic and foreign investment in the industry, government policy and the impact of economic factors on the tourism sector were also studied.

05/30/2025
  • PDF (Uzbek)
107-110 224 0
STATISTICAL ANALYSIS OF THE VOLUME OF INVESTMENTS IN INDUSTRIAL ENTERPRISES OF SURKHANDARYA REGION
Feruza Hojiqulova

The article presents a statistical analysis of investments in industrial enterprises that provide various products and services to the population of our country. Information on the number of industrial enterprises and the volume of investments made in this region in 2010-2023, as well as the amount of gross regional products.

12/27/2024
  • PDF (Uzbek)
53-61 158 63
SCIENTIFIC AND THEORETICAL BASIS OF FOREIGN DIRECT INVESTMENT AND ITS IMPORTANCE FOR ECONOMIC DEVELOPMENT
Nadira Mamatkulova
This article analyzes the scientific and theoretical foundations of investments, their economic essence and their role in economic development. Different approaches to defining investments in economic literature are examined, and the importance of investments in ensuring economic growth is highlighted. The study also analyzes the role of investments in increasing production capacity, creating employment opportunities, developing infrastructure and promoting scientific and technological progress. Particular attention is given to the essence and characteristics of foreign investments, especially foreign direct investment (FDI), and their contribution to economic development.
03/31/2026
  • PDF (Uzbek)
153-161 62 34
FACTORS AND INDICATORS CHARACTERIZING REGIONAL DIFFERENCES IN ATTRACTING FOREIGN DIRECT INVESTMENT
Sug‘diyona Akbaraliyeva

Foreign direct investment (FDI) is an important factor in the economic growth and development of a country. At the regional level, foreign direct investment represents long-term capital investments by foreign investors in the economies of specific territories of a country, aimed at establishing new enterprises, modernizing and expanding existing production facilities, as well as developing regional infrastructure and increasing the investment activity of the region. This article examines the factors and indicators that determine regional differences in attracting foreign direct investment. The influence of economic, institutional, infrastructural, and socio-demographic conditions on the level of investment activity in different regions is examined.

03/31/2026
  • PDF (Russian)
19-25 46 40
THE ROLE OF INTERNATIONAL RATINGS AND INDICES IN INCREASING THE ATTRACTIVENESS OF THE INVESTMENT ENVIRONMENT IN THE COUNTRY
Foziljon Rustamov

This study examines the relationship between key macroeconomic indicators,
including the Human Development Index, Gender, Business, and Law indices, as well as the ease of doing business index and import level, with the inflow of foreign direct investment into Uzbekistan. Using OLS regression, correlation analysis, cointegration tests, and other econometric techniques, the analysis reveals that changes in the Human Development Index, Gender Index, Business and Legal index, and Import level positively correlate with foreign investment inflows. This suggests that human development, gender equality, business environment, and improved import policies play crucial roles in attracting foreign investments.

06/30/2024
  • PDF (Uzbek)
158-167 166 90
MODEL OF INVESTMENT BEHAVIOR OF ECONOMIC SUBJECTS IN THE THEORY OF J.M. KEYNES
Farrukh Salamov

This article analyzes the behavior of business entities in the investment process in the economic theory of Dj. M. Keynes. The article examines the role of predel efficiency, interest rates and uncertainty as key factors in investment decisions. It also explains how economic activity can increase as a result of initial investment through the Keynesian multiplier model. With the help of modern economic research and criticism, the Keynesian theory will be reviewed more broadly and its adaptation to new conditions will be analyzed.

06/30/2024
  • PDF (Russian)
418-421 256 56
PROSPECTS FOR ATTRACTING FOREIGN DIRECT INVESTMENT TO UZBEKISTAN UNTIL 2030
Abrorjon Abdullayev

This article is devoted to assessing the prospects for attracting foreign direct investment (FDI) to Uzbekistan until 2030 in the context of accelerating structural modernization of the economy, expanding public-private partnerships, the growth of the "green" agenda, and the deepening of digital reforms. The purpose of the study is to identify factors that determine not only the quantitative scale of capital inflow but also its qualitative contribution to productivity, technological renewal, export diversification, and the formation of local value chains. The methodological framework combines comparative-institutional, structural, and problem-oriented analysis of official and analytical materials from 2022-2025. Based on a literature review, it is shown that for developing and transition economies, the sustainable effect of FDI depends on the quality of institutions, the predictability of the regulatory environment, the depth of the financial market, and the state's ability to link investment policy with industrial, innovation, and infrastructure strategies. It is established that Uzbekistan possesses significant competitive This article is devoted to assessing the prospects for attracting foreign direct investment (FDI) to Uzbekistan until 2030 in the context of accelerating structural modernization of the economy, expanding public-private partnerships, the growth of the "green" agenda, and the deepening of digital reforms. The purpose of the study is to identify factors that determine not only the quantitative scale of capital inflow but also its qualitative contribution to productivity, technological renewal, export diversification, and the formation of local value chains. The methodological framework combines comparative-institutional, structural, and problem-oriented analysis of official and analytical materials from 2022-2025. Based on a literature review, it is shown that for developing and transition economies, the sustainable effect of FDI depends on the quality of institutions, the predictability of the regulatory environment, the depth of the financial market, and the state's ability to link investment policy with industrial, innovation, and infrastructure strategies. It is established that Uzbekistan possesses significant competitive

04/30/2026
  • PDF (Russian)
347-356 34 29
THE IMPACT OF ISLAMIC BANKING ON ATTRACTING INVESTMENTS INTO THE REAL ECONOMY
Maftunaxon Ubaydullaeva

The article examines the role of Islamic banking in stimulating the inflow of investments into the real sector of the economy. Islamic financial institutions, based on Sharia principles, ensure fair risk-sharing, transaction transparency, and a focus on projects with real economic value. Based on an analysis of theoretical foundations and the experience of countries with a developed Islamic financial system, it is revealed that Islamic banking contributes not only to attracting domestic and foreign investments but also to enhancing the stability of the financial sector. Particular attention is given to the prospects for implementing Islamic banking in Uzbekistan as a factor in supporting small and medium-sized businesses, developing infrastructure, and strengthening trust in the banking system.

09/29/2025
  • PDF (Russian)
263-268 106 55
INVESTMENTS IN ISLAMIC ECONOMY: THEIR ORGANIZATIONAL AND MANAGEMENT SYSTEM AND PRINCIPLES OF IMPLEMENTATION
Gulbakhor Irgasheva

This article provides information about the theoretical basis of investment instruments, musharakah and mudarabah, organizational and management system, as well as the principles of practical application, as well as their differences from each other. In addition, issues related to the possibility of attracting domestic and foreign investments in Uzbekistan by implementing these agreements are presented.

01/31/2024
  • PDF (Uzbek)
34-43 202 134
SPECIFIC CHARACTERISTICS OF ATTRACTING INVESTMENTS TO DEVELOPMENT IN THE COUNTRY'S ECONOMY
Dilobar Ruzieva, Asal Nazarova

In this article, the relevance of the role of foreign investments in industrial production, the positive impact of investments on the economy, measures to organize the effective use of investments in economic sectors and the prospects of attracting investments, along with investment, new technologies, advanced experiences, the directions of entry of highly qualified specialists, the analysis of the efficiency of investments in the development of the economy of Uzbekistan are presented.

01/31/2024
  • PDF (Uzbek)
126-134 208 143
ECONOMETRIC ANALYSIS OF THE EFFECTIVE USE OF INVESTMENTS IN THE DEVELOPMENT OF THE REPUBLIC'S ECONOMY
Abdulla Almuradov , Aziza Asrorova

This paper comprehensively examines the theoretical and practical aspects of the efficient use of investments in the development of the national economy based on an econometric approach. The study utilizes macroeconomic data for the period 2000–2024 to conduct an in-depth analysis of the impact of investment volume, employment level, and export volume on Gross Domestic Product (GDP). The methodological framework includes correlation analysis, construction of a multiple regression model, evaluation of parameter significance using t-statistics, assessment of overall model adequacy through the F-test, and testing for autocorrelation using the Durbin–Watson statistic. All econometric computations and model estimations were carried out using the modern statistical software environment R Studio. The empirical results demonstrate that investments have a strong positive and statistically significant effect on economic growth, as measured by GDP. Based on the findings, a set of practical recommendations has been developed aimed at improving the efficiency of investment utilization, optimizing their allocation across economic sectors, and enhancing investment policy.

04/30/2026
  • PDF (Uzbek)
43-51 24 23
THE STRATEGIC IMPORTANCE OF “GREEN” INVESTMENTS AND EMPLOYMENT IN ACHIEVING SUSTAINABLE DEVELOPMENT GOALS
Ilhom Muxtorov

This article highlights the importance of “green” investments and employment in the process of implementing the Sustainable Development Goals (SDGs) in Uzbekistan. It examines the integration of the SDGs into national development policy, the practice of green budgeting, and the institutional and financial mechanisms for transitioning to a green economy within the framework of the “Uzbekistan–2030” Strategy. In particular, the article analyzes the dynamics of investments directed toward renewable energy, the tagging of state budget expenditures in accordance with the SDGs, and green financing instruments. Based on this analysis, it substantiates the role of green investments in achieving SDGs 7, 8, 9, 11, 12, and 13. Based on the results of the analysis, relevant conclusions are formulated, and scientific proposals and practical recommendations are developed.

03/31/2026
  • PDF (Uzbek)
177-185 46 35
INNOVATIVE POTENTIAL OF THERMAL POWER INDUSTRY ENTERPRISES OF THE REPUBLIC OF UZBEKISTAN
Sevara Abduraxmanova

The article discusses the significant role of thermal power stations in Uzbekistan's energy sector, emphasizing the ongoing modernization efforts to increase efficiency and reduce environmental impact. It outlines various projects and investments aimed at upgrading existing facilities and installing new, energy-efficient units. The text highlights the economic and operational benefits of these initiatives, including reduced fuel consumption, increased production capacities, and enhanced technological capabilities. The article also details the financial investments and the expected outcomes of these projects in terms of capacity and sustainability improvements.

04/30/2024
  • PDF (Uzbek)
27-35 131 90
INCREASING THE ATTRACTIVENESS OF SPECIALIZED REGIONS TO DEVELOP THE FLOW OF INVESTMENTS TO THE COUNTRY
Dilshod Kamilov, Shakhnoza Shayzakova

Today, investments are the most necessary part of the economy in the development of the economy of each country. National and foreign investments in the country serve to rapidly grow the economy, ensure macroeconomic stability, reduce the level of unemployment, improve the lifestyle of the population, increase their income, and provide employment to the population. The article presents the essence of investments, the factors that attract them to the country, as well as opinions and comments aimed at increasing the attractiveness of investments in the regions. At the same time, in today's globalization period, every country of the world acquires important investment importance in improving its economic status, forming new production areas, creating job vacancies, effective use of natural mineral resources of the country and their processing. The biggest factor of economic development of any country is investment.

04/30/2024
  • PDF (Uzbek)
105-110 149 117
MACROECONOMIC DRIVERS OF CARBON EMISSIONS IN UZBEKISTAN: AN ARDL APPROACH
Sherali Muqimov

This paper provides an empirical analysis of the impact of economic growth, industrial development, foreign direct investment, and energy consumption on carbon dioxide emissions in Uzbekistan over the period 1991-2024, employing the ARDL and ECM frameworks. The results indicate that, in both the long and short run, economic growth is associated with improvements in environmental efficiency, whereas foreign direct investment is predominantly concentrated in emission-intensive sectors. The findings highlight the need to enhance industrial policy through strengthened institutional and investment mechanisms.

02/27/2026
  • PDF (Uzbek)
149-158 76 81
EMPIRICAL ANALYSIS OF ECONOMIC FACTORS AFFECTING REGIONAL DISPARITIES IN HOUSEHOLD INCOME
Shahnoza Abdunazarova

This article provides an empirical analysis of the key economic factors influencing regional disparities in household income. The study examines indicators such as per capita income, average wages, employment rate, investment volume, and healthcare infrastructure availability. The findings reveal that wage levels and the amount of attracted investments are the main determinants of income growth, while employment rates and healthcare resources exert indirect effects, serving as supplementary drivers of regional welfare. The results have both theoretical and practical significance for the development of regional economic policies aimed at reducing income disparities across territories

09/29/2025
  • PDF (Uzbek)
18-25 145 55
EVOLUTION OF MONETARY AND MULTIDIMENSIONAL POVERTY IN CENTRAL ASIA: A COMPARATIVE ANALYSIS OF STRUCTURAL FACTORS
Gavxar Sultanova

Ushbu maqolada Jahon banki ma’lumotlari va Global ko‘p o‘lchovli kambag‘allik indeksining qiyosiy tahlili yordamida Markaziy Osiyodagi monetar va ko‘p o‘lchovli kambag‘allik dinamikasi o‘rganilgan. Tadqiqotda Qozog‘iston, Qirg‘iziston, Tojikiston, O‘zbekiston va Turkmanistondagi mavjud kambag‘allikni pasaytirish modellari tahlil qilingan, bu sohadagi yutuqlar va tarkibiy to‘siqlar ko‘rsatilgan. Iqtisodiy o‘sish, mehnat daromadlari, pul o‘tkazmalari va ijtimoiy transfertlar tufayli monetar kambag‘alligining sezilarli darajada kamayishiga qaramay, ko‘p o‘lchovli kambag‘allik indekslari turmush darajasi va asosiy xizmatlardan foydalanishdagi doimiy kamchiliklarni ko‘rsatadi. Natijalar mamlakatlararo sezilarli o‘zgaruvchanlikni ko‘rsatadi va daromadlarning oshishini inson kapitali va ijtimoiy infratuzilmaga investitsiyalar bilan birlashtirgan muvofiqlashtirilgan kambag‘allikka qarshi siyosat zarurligini ta’kidlaydi.

01/30/2026
  • PDF (Russian)
195-212 69 44
ECONOMIC DEVELOPMENT OF REGIONS BASED ON THE EFFICIENT USE OF INVESTMENTS
Saodat Toshaliyeva

This article highlights the theoretical and practical aspects of regional economic development based on the efficient use of investments. The dynamics of gross regional product and the volume of assimilated investments in fixed capital across the regions of the republic are analyzed. Furthermore, the technological structure of investments in fixed capital has been studied as an indicator of investment efficiency, and a comparative analysis with foreign countries has been carried out. In addition, proposals have been developed for promoting regional economic development based on the effective utilization of investments.

05/30/2025
  • PDF (Uzbek)
195-202 194 96
THE ROLE OF CORPORATE SOCIAL RESPONSIBILITY MANAGEMENT IN THE DEVELOPMENT OF INDUSTRIAL ENTERPRISES
Kristina Chekulaeva

Corporate Social Responsibility (CSR) is a strategic approach in which companies strive to manage their impact on society and the environment by following ethical standards and taking care of various stakeholders. In today's economy, CSR management is becoming a key factor determining the success and sustainability of a business, especially for industrial enterprises. This article examines the key aspects of CSR management and its impact on the development of industrial enterprises, as well as provides examples of successful CSR implementation in different regions.

08/30/2024
  • PDF (Russian)
448-457 94 69
MARKETING STRATEGY FOR THE DEVELOPMENT OF APPRAISAL ACTIVITIES IN THE REPUBLIC OF UZBEKISTA
Aleksandr Kravchenko

The article considers marketing strategy issues in improving and developing appraisal activities. The essence of marketing in the appraisal services market is revealed. The main task of the marketing strategy for the development of appraisal activities is formulated to satisfy the components of the concept of modern marketing of the appraisal services market development. The main factors for improving appraisal activities are formulated. The main components of asset promotion from sellers to buyers and their relationship with appraisal services are shown. The ways of improving advertising activities in the appraisal services market are shown.

08/30/2024
  • PDF (Russian)
305-314 81 52
PROSPECTS FOR INCREASING INVESTMENT ACTIVITY IN AGRICULTURE
Ubbiniyaz Djumaniyazov

This article talks about the reforms implemented in the agriculture of our country in recent years, as well as future prospects. Investments in agriculture are analyzed.

08/30/2024
  • PDF (Uzbek)
25-27 109 60
THEORETICAL MODELS AND CONCEPTS OF MECHANISMS FOR ATTRACTING FOREIGN INVESTMENTS
Shoxruxbek Baxadirov

The article is devoted to the theoretical analysis of the mechanisms of attracting foreign direct investment as an important direction of economic policy. Classical, neoclassical, corporate, institutional, and political-economic approaches to explaining investment processes are considered and compared. The need for an integrated approach is substantiated, taking into account the corporate advantages of investors, the terms of placement, the quality of institutions and the role of public investment policy.

01/30/2026
  • PDF (Uzbek)
47-58 56 49
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