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ATTENTION TO TOURISM IS AN INVESTMENT IN THE DEVELOPMENT OF THE ECONOMY
Aziza Nasretdinova

The importance of tourism on an international scale is increasingly growing, as this sector allows countries to strengthen their position in the global economy. At the same time, investments in tourism play a significant role in creating jobs for the local population, supporting regional economic growth, and developing cultural exchanges. This article discusses how attention to tourism serves as an investment for the development of various sectors of the economy and the strengthening of international relations.

02/27/2025
  • PDF (Uzbek)
88-93 138 65
OPPORTUNITIES FOR APPLYING INTERNATIONAL PRACTICES IN REDUCING POVERTY
Shohboz Toyirov

This article is devoted to a global and regional analysis of the problem of poverty, as well as the experience of foreign countries and Uzbekistan's strategies for its elimination. The article analyzes the Oxford Poverty Alleviation and Human Development Initiative (OPHI) report "Global Multidimensional Poverty Index 2024," which indicates that 1.1 billion people worldwide live in extreme poverty, with the majority in rural areas and the Sahara and South Asian regions. Effective poverty reduction strategies (South Korea, China, Brazil, Norway) were also reviewed, emphasizing the importance of investing in human capital and harmonizing social programs with economic growth.

12/29/2025
  • PDF (Uzbek)
278-284 73 53
DIGITAL TRANSFORMATION AS A FACTOR INCREASING THE EFFECTIVENESS OF MARKETING STRATEGY IN DISTRIBUTION COMPANIES
Fakhriyor Jamoliddinov

This article examines the role and mechanisms of digital transformation in enhancing the effectiveness of marketing strategy implementation in distributor companies. In a dynamic market environment, traditional marketing methods are becoming increasingly inadequate. Technologies such as CRM systems, marketing automation, Big Data analytics, omnichannel communications, and digital logistics improve market visibility, optimize trade promotions, and enable personalized relationships with retailers. Distributors with strong digital capabilities outperform digitally weak counterparts in revenue growth, campaign ROI, and customer satisfaction. Investments in digital tools, workforce development, and collaborative platforms can modernize distribution practices, boost marketing efficiency, and strengthen competitiveness in emerging markets like Uzbekistan. The adoption of digital technologies shifts marketing strategies from being reactive to proactive and data-driven.

12/29/2025
  • PDF
147-152 95 81
MECHANISMS FOR IMPROVING THE SYSTEM OF ATTRACTING FOREIGN INVESTMENTS AND SOLVING EXISTING PROBLEMS
Bekzod Mamatqulov

The article analyzes the mechanisms of attracting foreign investments and existing challenges in Uzbekistan. The research focuses on improving the investment climate, creating favorable conditions for foreign investors, and identifying directions for their further enhancement. In addition, based on the experience of leading foreign countries, effective mechanisms suitable for Uzbekistan are proposed.

10/31/2025
  • PDF (Uzbek)
139-145 117 93
METHODOLOGY FOR IDENTIFYING INEFFICIENT SAVINGS IN UZBEKISTAN
Jaxongir Imamnazarov

This article proposes a methodology for determining and analyzing the volume and value of “non-working” savings of the population of Uzbekistan, that is, investments and reserves in monetary and non-monetary form, not attracted to the official economy as investments. The methodology takes into account the specifics of the economy, in particular, the high level of influence of the US dollar on the domestic market, the high share of the shadow economy, and the low level of development of investment companies. This study proposes a multi-stage approach, in particular a multi-stage approach that combines macroeconomic balance methods, household microdata, behavioural models of cash demand, and a Bayesian structural module for resource integration. Data sources, validation processes, distribution by region, and implementation algorithm are described.

10/31/2025
  • PDF (Uzbek)
112-122 118 116
DEVELOPMENT OF THE VENTURE CAPITAL ECOSYSTEM IN UZBEKISTAN: SOURCES, PROBLEMS AND PROSPECTS
Umidjon Hoshimov

This paper examines the emergence and development of the venture capital (VC) ecosystem in Uzbekistan, a transition economy in Central Asia striving to foster innovation and high-growth entrepreneurship. Drawing on theoretical frameworks related to innovation finance and entrepreneurial ecosystems, the study explores the current landscape of VC activity in Uzbekistan, identifies key structural challenges such as limited exit opportunities, low financial literacy, commercialization barriers, and legal-regulatory gaps and assesses the effectiveness of recent policy initiatives. The analysis integrates insights from the 2024 KPMG report on Central Asia and supplements it with comparative lessons from international case studies, including Israel’s Yozma program, Singapore’s co-investment incentives, and South Korea’s fund-of-funds model. The paper proposes a set of phased policy recommendations to strengthen the VC ecosystem, including legal reforms, investor tax incentives, co-investment mechanisms, and capacity-building initiatives. The findings suggest that while Uzbekistan’s VC sector is still nascent, targeted policy interventions can accelerate its evolution into a robust, globally integrated driver of innovation-led economic growth.

10/31/2025
  • PDF (Uzbek)
100-111 131 82
FUTURE SCENARIOS OF REGIONAL SOCIO-ECONOMIC DEVELOPMENT IN THE CONTEXT OF FORMING AN INNOVATION ECONOMY
Alibek Rajabov

This article analyzes the future scenarios of regional socio-economic development in the context of forming an innovation economy, grounded in scientific evidence. The introduction outlines contemporary trends (digital transformation, artificial intelligence, green technologies, and climate change), while the literature review is based on several scholarly research works from prestigious journals over the past five years, encompassing the evolution of RIS (regional innovation systems), empirical models, and policy recommendations. The methodology relies on systematic literature review (SLR) and scenario planning. The results delineate three scenarios: optimistic (2–5% growth through digital integration), pessimistic (inequality and stagnation), and mixed (transformative adaptation). The conclusion proposes strengthening RIS and investing in green innovations

09/29/2025
  • PDF (Uzbek)
200-205 133 49
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
THE ROLE OF SOCIAL MEDIA IN MARKETING FOR SMALL BUSINESSES
Elnurjon Tuychiyev , Farrukh Mamadiyorov

It is obvious that tourism has become an integral part of the economy, which in many countries has led to the widespread use of small businesses using social media marketing. This study focuses on the impact and importance of marketing for business. An increase in the number of media subscribers among business owners can significantly increase the demand for specific products or services in the tourism sector. Digital marketing plays an important role in attracting customers and establishing brand popularity among competitors. In particular, this project aims to illustrate the role of marketing in business in the Uzbek market. Currently, the digital landscape offers services that allow customers to access a variety of information through their devices on platforms. Moreover, business leaders have the right to use marketing tools to increase brand loyalty. In short, this study focuses on user acceptance rates. Collects data on the effectiveness of stores in the market in Uzbekistan. Small businesses provide the opportunity to use digital marketing tools that attract loyal customers who are willing to invest in specific products or services in the tourism industry (for example, hotels, hostels, restaurants, spas, pubs, bars, etc.). Studying marketing can help raise awareness in society, leading to an impact on opinions people. Therefore, achieving success in the media is crucial to achieving goals in any business.

03/28/2025
  • PDF (Russian)
212-223 138 68
TRADE DYNAMICS IN LANDLOCKED CENTRAL ASIA: INSIGHTS FROM UZBEKISTAN’S PERSPECTIVE
Saodat Umarova

This paper examines the trade dynamics of landlocked Central Asia, with a particular focus on Uzbekistan. The geographical disadvantages of Uzbekistan, a double-landlocked country, significantly impede its trade competitiveness due to high transportation costs and prolonged transit times. Historically dependent on exports of commodities such as cotton, gold, and natural gas, Uzbekistan’s economy remains vulnerable to global market fluctuations. To mitigate these challenges and enhance its trade potential, the study underscores the necessity of diversifying into value-added sectors and improving trade logistics infrastructure. By employing the gravity model of trade, the paper evaluates the impact of trade facilitation measures on bilateral trade volumes within the Central Asian region. The findings highlight the critical role of infrastructure development, customs modernization, and regional cooperation in bolstering Uzbekistan’s trade efficiency. The analysis reveals that countries with advanced trade facilitation measures engage in higher trade volumes with Uzbekistan, suggesting that strategic investments in transport infrastructure and regulatory reforms are pivotal. These efforts are essential for integrating Uzbekistan more effectively into global markets and fostering economic growth within the region.

01/31/2025
  • PDF
185-193 135 70
MODERN TRENDS IN FINANCING ARTIFICIAL INTELLIGENCE
Mehri Voxidova, Nigina Nuriddinova

This article provides a comprehensive analysis of the processes and directions of financing artificial intelligence (AI), which has emerged as a separate industry, investing in supporting the development of AI, and its impact on the development of other sectors and the labor market in the future.

12/27/2024
  • PDF (Uzbek)
202-208 106 48
ANALYSIS AND PREDICTION OF THE USE OF DIGITAL MARKETING TACTICS IN THE BANKING SECTOR USING ECONOMETRIC MODELS
Bobur Xonturayev

The study paper provides a detailed examination of how digital marketing methods affect the economic efficiency of commercial banks, specifically within the changing environment of the banking sector. The study examines the relationship between higher digital marketing spending, increased investment in staff development, and their impact on the net income of banks using 18 years of financial data from ATIB "Mortgage Bank" in Uzbekistan. The study uses advanced statistical analysis to create Vector Autoregressive (VAR) and Autoregressive Distributed Lag (ARDL) models to predict and assess the impact of marketing initiatives in the banking industry. The results highlight a strong correlation between increased digital marketing initiatives, greater staff commitment, and higher financial success of commercial banks. The VAR and ARDL econometric equations, generated from time series data, offer a strong foundation for comprehending the dynamic relationship between marketing tactics and economic results in the banking sector. This research adds to the overall discussion on the effectiveness of digital marketing, providing significant data for financial institutions looking to improve their economic efficiency by strategically investing in marketing and human resources.

02/29/2024
  • PDF (Uzbek)
244-253 135 105
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