Vol. 3 No. 3 (2025): Economic Development and Analysis

This article analyzes the concept of financial derivatives, their types and practical application. It also presents the level of development of the derivatives market in Uzbekistan, existing problems and the author's proposals for their elimination. The study highlights the importance of derivatives for the economy, their role in risk management and the opportunities they create for investors. The author proposes important measures to improve the legislative framework, create infrastructure and attract investors to develop the financial derivatives market in Uzbekistan.

This article analyzes the importance of ESG principles in project financing, their impact on business and investment decisions, as well as the benefits of sustainable financing mechanisms. The article provides information on the importance of rating agencies and the ratings they provide through the effective implementation of ESG principles.

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.

This research is aimed at improving the mechanism for improving the competitiveness of personnel in the service sector, analyzing the skill level, innovative approaches and professional development of employees of the industry and identifying effective strategies for making them competitive. The study explores factors of human resources capacity building – education, training, motivation and innovative management systems through interviews of industry professionals, surveys and analysis of available literature.

Which generations should companies and sellers in e-commerce adapt to? This question is becoming increasingly relevant in the face of rapid digital technology development and changing consumer habits. Dividing society into generations helps us better understand people born in the same historical period and identify their cultural and social behavior patterns. In the age of technology, special attention is given to Generations Y, Z, and Alpha, who are considered "digital natives" and are exerting an increasing influence on the market. These consumer groups have unique values, perspectives, and lifestyles, making them key players in e-commerce. The aim of this article is to explore how companies can adapt their strategies to effectively engage with these generations.

В статье рассматривается вопрос совершенствования стратегического планирования на текстильных предприятиях по результатам организации эффективных взаимоотношений с поставщиками ресурсов с целью снижения издержек и обеспечения бесперебойности производства.

The article explains the essence of such concepts as creative economy, inclusive economy, inclusive education and persons with disabilities, as well as directions for increasing the participation of students with disabilities in the fields of creative economy.

Further development of the field of housing construction, improvement of mechanisms for attracting investments, further improvement of the standard of living of our country, is one of the reforms that are consistently carried out in our country today. At the heart of this article lies the expansion of the economy of our country, the reduction of the unemployment rate through the development of the construction sector in our country, the further improvement of the living well-being of our population, the increase of gross domestic product and economic development.

The article discusses the growing importance of the informatization sector in the economy of Uzbekistan. The development of information technologies and their integration into the economic system play an important role in ensuring the country's economic growth, increasing efficiency and competitiveness. Informatization allows to further simplify and accelerate economic processes through the introduction of modern technologies, especially in the areas of public administration, business and education. In particular, the digital economy, e-commerce, online services, as well as the use of databases and artificial intelligence technologies allow to achieve effective resource management and optimize production and service processes. The development of informatization also affects the improvement of the business environment, the creation of new jobs and ensuring economic stability. The article discusses the integration of information technologies into the economy, digital transformation processes and related economic results. The report also analyzes the opportunities and challenges arising from the transition of Uzbekistan to a digital economy.

This article discusses the demographic dividend. It examines the theoretical views of scientists on the demographic dividend, the advantages and benefits of the demographic dividend, the stages of obtaining it, and the factors, causes, and directions that are important for achieving the demographic dividend.

This article analyzes the current state of the tourism sector in Uzbekistan, the level of development of its infrastructure facilities, and their impact on tourism growth. The article also examines the role of infrastructure elements such as the transport system, hotel services, information and communication technologies, and public safety in the development of tourism and their interconnections. Additionally, it highlights the positive changes that can be achieved in the tourism sector through the improvement of infrastructure and addresses the problems that await solutions.

This article examines approaches to optimizing capital requirements for insurance companies in Uzbekistan. It analyzes existing regulatory frameworks and international standards, including Solvency II. The study explores risks associated with insufficient capitalization and proposes measures to improve capital and reserve management mechanisms. The research aims to adapt advanced regulatory practices to the national insurance market, ensuring its sustainable development.

In this article, the economic importance of real estate, the fact that real estate taxation increases the competitiveness of property and has an important place in determining the tax base, are developed based on the analysis, and relevant recommendations are developed.

This аrticle "privаtizаtion, nаtionаlizаtion аnd public-privаte pаrtnership" prepаred to fаmiliаrize yourself with the regulаtion аnd privаtizаtion of the public-privаte pаrtnership sector, the essence of the science of nаtionаlizаtion аnd its foundаtions, the development of industries, аttrаcting the unemployed to work, аnd functionаl tаsks. The designаtion is widely publicized. The eаrth hаs аlwаys occupied а speciаl plаce in the history of mаnkind, аnd the аttitude towаrds it hаs not lost its significаnce to this dаy. It is аnаlyzed thаt mаn hаs аlwаys tried аnd struggled to own lаnd, use it for economic purposes аnd obtаin а source of income.

This article examines the benefits of use of business intelligence systems to improve the efficiency of management and control over accounting of production costs at enterprises engaged in the production of products.

Econometric modeling is of great importance in ensuring the effective development of agroclusters and assessing their impact on economic processes. This article considers the theoretical and practical aspects of using panel data in analyzing and optimizing the activities of agroclusters. Since panel data takes into account time and territorial factors, it allows studying the short- and long-term dynamics of agroclusters. The article analyzes econometric approaches such as the use of simultaneous systematic models, solving the endogeneity problem using this modeling method, and applying cointegration methods. The research results serve as a scientific and practical basis for ensuring the sustainable development of agrocluster networks, making effective management decisions, and optimizing inter-cluster integration processes.

In the context of the modern global economy, the accelerated adoption of cutting-edge innovative technologies across key economic sectors, social domains, and other areas of activity in the Republic of Uzbekistan emerges as a pivotal factor for ensuring sustainable and dynamic development. The rapid transformation of all facets of the country’s societal and governmental life necessitates systematic support for ongoing reforms, grounded in the latest innovative ideas, developments, and technological solutions. These efforts are aimed at achieving a qualitative leap, positioning Uzbekistan among the leaders of global civilization amidst the trends of digitalization and the transition to a knowledge-based economy. The high relevance of this topic stems from the need to adapt international best practices to Uzbekistan’s national context to establish an effective innovation ecosystem. This study examines diverse approaches to state support for innovation activity implemented in economically advanced and dynamically developing countries. Drawing on this analysis and considering the specifics of Uzbekistan’s national economy and current socio-economic challenges, the authors propose recommendations to enhance the mechanisms of state-driven stimulation of innovation processes in the Republic of Uzbekistan. The suggested directions focus on strengthening the country’s competitiveness within the global landscape.

The article examines the issues of improving the organizational and economic mechanism for the effective development of the hotel services market in the context of implementing the strategy for the development of sustainable tourism, as well as the accelerated development of the tourism sector and turning it into one of the promising sectors of the national economy. The main aspects of the development of the hotel industry are studied, proposals and recommendations are given.

Ushbu maqolada tijorat banklarining depozit va kreditlari YIM ga nisbatan tendensiyasi va maqsadli ko‘rsatkichlar bo‘yicha amaldagi holati tahlil qilingan. Tijorat banklari balansidagi depozit va kredit ko‘rsatkichlari statistik va qiyosiy tahlil qilinib, ularning mutanosibligini ta’minlash orqali bank riskini minimallashtirish bo‘yicha ilmiy takliflar hamda amaliy tavsiyalar shakllantirilgan.

The article analyzes modern approaches to improving the risk management system in commercial banks of Uzbekistan. It provides specific statistical data on commercial banks for the period of 2022–2025. Definitions are given for credit, market, operational, liquidity, reputational, and compliance risks encountered in banking activities and practices, along with proposed measures to prevent these risks in the Uzbekistan market. In this regard, methods for risk reduction are suggested through the implementation of artificial intelligence and machine learning technologies, as well as integrated solutions that encompass international standards, technological innovations, and the development of human capital to enhance the financial stability of banks.

В данной статье проанализирован зарубежный опыт внедрения налогового администрирования для крупных налогоплательщиков, в результате которого разработаны предложения и рекомендации по вопросам совершенствования налогового законодательства Республики Узбекистан, а также по дальнейшему совершенствованию налогового администрирования для крупных налогоплательщиков.

Национальная экономика имеет большое значение в социально-экономическом развитии каждой страны, она является ключевым фактором экономического роста, создания рабочих мест, повышения благосостояния населения и обеспечения устойчивого развития. В данной статье представлена информация о роли инвестиций и инноваций в развитии национальной экономики.

This article studies the role of capital market participants in the transition to a green economy, the role of the capital market in the transition to a green economy, the importance of green financial instruments and their approaches to types. The role of green investors in the capital market, the functions of capital market participants in the transition to a green economy, and the share of green bonds in the international green bond market by type are analyzed. Based on the analysis, relevant conclusions are given.

This article analyzes the role and importance of green investments in the development of the green economy in Uzbekistan. It explores the opportunities for implementing green investments to promote environmentally friendly economic activities, develop renewable energy sources, and introduce ecological technologies. Furthermore, existing green investment projects in Uzbekistan are examined, the main barriers to their expansion are analyzed, and appropriate conclusions and recommendations are provided.

This study examines the system of social support for the population in the Republic of Uzbekistan through statistical analysis. The country’s social protection policy is aimed at improving the population’s living standards, increasing employment, and reducing poverty, where official statistical data are of critical importance in assessing its effectiveness. During the research, methods of descriptive and trend analysis were applied using open-access data provided by the Statistical Agency of the Republic of Uzbekistan, the Ministry of Finance, the United Nations (UN), and the World Bank.

The article is devoted to the behavior of economic entities in the investment process in the theory of Keynes. In modern conditions of the formation of the information paradigm of socio-economic development, there is a growing interest in the issues of implementing the investment process, which is due, on the one hand, to the transition of all technological systems and complexes from the analog to the digital sphere, and on the other, to the need to stimulate investment of economic entities in order to create a basis for sustainable economic growth.

This article analyzes the current state and current problems of innovative development of regional infrastructure in our country. The process of modernization of infrastructure and the introduction of innovative solutions plays an important role in increasing the economic stability and competitiveness of regions. Therefore, the study examines the main factors affecting the development of regional infrastructure, existing problems and ways to solve them. The analysis shows that the main obstacles to the implementation of infrastructure projects are the lack of financing, outdated technologies, institutional problems and territorial disparities. The article also analyzes advanced foreign experience and puts forward effective strategies for the formation of innovative infrastructure. The article also develops scientific and practical recommendations for the development of regional infrastructure and highlights its impact on sustainable innovative development. The results of the study can be of practical importance in the processes of regional policy formation and infrastructure planning.

The export of services plays a crucial role in enhancing the export potential of Central Asian countries and diversifying their export portfolios. This article presents an econometric analysis of the key factors influencing service exports, utilizing statistical data from Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan from 2000 to 2021. The analysis employs various methodologies, including fixed effects, random effects, GLS, and fixed effects with Driscoll-Kraay standard errors. The findings reveal that UNCTAD's ICT index and the category "Private Sector," along with GDP per capita, significantly contribute to the growth of services exports in Central Asian countries. On the other hand, population size negatively affects the volume of services exported by the countries analyzed. Based on the results obtained, recommendations were developed to boost traditional and modern services exports from Central Asian countries.

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.

This article evaluates the profit efficiency of commercial banks in Uzbekistan using the Stochastic Frontier Analysis (SFA) method. The analysis is based on data from commercial banks operating in Uzbekistan between 1999 and 2023. The research findings indicate that the profit efficiency of commercial banks has increased over time but declined during the global financial crisis and the pandemic. In terms of ownership structure, state-owned banks had the highest average profit efficiency, while foreign banks, despite high volatility, achieved the best results in some years. The profit efficiency of private and joint-stock commercial banks was variable and fluctuated significantly depending on market conditions.

For the sustainable and accelerated development of regions in Uzbekistan, it is advisable to introduce a unified system for assessing their comprehensive balanced development, the efficiency of resource utilization, economic, investment, and financial potential, to provide the necessary financial resources and opportunities for regional development, to further enhance the financial independence of local government bodies, and to further expand the scope of scientific research on developing and implementing strategies to ensure the completeness of local budget revenues.  This article covers the issues of sustainable development of regions both theoretically and practically.

This article statistically evaluates the indicators of the development of small business and private entrepreneurship in Andijan region and the factors affecting it, and the role of small business and private entrepreneurship in the development of the region is evaluated using the methods of economic and statistical analysis.

The hospitality industry in Uzbekistan has been rapidly expanding, with a significant increase in hotels and room capacity, particularly in Tashkent, Samarkand, and Bukhara. As part of the country’s sustainable development efforts, Environmental, Social, and Governance (ESG) principles are being integrated into regulatory frameworks and business practices. This article examines the current state of ESG adoption in Uzbekistan’s hotel industry, the impact of national policies, and the benefits of implementing ESG strategies. A literature review highlights global best practices and the financial advantages of ESG compliance. The study also presents an analysis of ESG implementation challenges and provides recommendations for enhancing sustainability in Uzbekistan’s hospitality sector.

This article is devoted to the study of financial risks, their classification and management methods. The study examines various types of financial risks, such as credit, currency, interest rate, investment and others, as well as the principles of their systematization and the importance of the right approach to their management. The importance of risk classification for more accurate analysis and development of strategies to reduce them is considered.

In Uzbekistan, the mahalla system is a small area that functions as a body of self-government of citizens. The article analyzes the criteria and factors associated with the comprehensive, broad (inclusive) development of this system. Based on the study of the experience of the Saikhunabad district, an organizational and economic model of inclusive development of the mahalla was formed.

This article explores scientific issues related to inequality and stratification of population incomes. Income stratification is considered an integral element of the socio-economic system. The formation of population incomes has its own specific characteristics, and various factors are examined, such as the social status and background of individuals, education level, adaptation to the external social environment, intellectual and managerial abilities, among others.

The article examines three cameralist, Keynesian and institutional stages of the evolution of foreign approaches to the formation of institutional foundations of economic security, develops proposals and recommendations for their implementation in the national economy of the Republic of Uzbekistan.

Оur article examines the experience of developed and developing countries, such as the developed countries of the world, the USA, China, Singapore, Ireland, Canada, in attracting foreign investment into our country's economy, developed proposals for the application of methods of attracting investment from China, Singapore, Ireland to our country, considered the issues of effective organization of foreign direct investment with the aim of ensuring their integration into the global economy and the creation of joint modern compact enterprises producing finished products based on the processing of valuable raw materials.

This article analyzed the composition of deposits in the banking system and their impact on financial stability. It studied how deposits formed by individuals and legal entities cause problems for banks in terms of liquidity, risks, and costs. During the study, the distribution of deposits between state-owned and private banks and their impact on the economy were considered. Practical proposals for sustainable development of the banking sector and effective management of deposit resources were developed in the article.

The article analyzes the role of the insurance portfolio in the activities of insurance companies and the problems associated with its formation and management. Key portfolio functions such as risk diversification, liquidity, profitability and compliance with regulatory requirements are considered. Particular attention is paid to optimizing asset allocation and forecasting risks in the context of economic instability and legislative changes. The importance of scientific research for developing new methods of asset management and increasing the financial stability of insurance companies is emphasized.

This article provides a comprehensive analysis of world experience in introducing a progressive personal income tax system. In particular, the systems operating in the USA, Germany, Scandinavian countries (Sweden, Denmark), the Russian Federation and several Asian countries (Japan, South Korea, Singapore), their historical development, political and economic motivations, tax rate levels, social protection policy and impact on the general economic situation are discussed. Also, based on the lessons learned from these countries, the possibilities of forming the most appropriate progressive system for the conditions of Uzbekistan are assessed.

The article is devoted to the analysis of risks of venture financing and methods of their minimization. Venture investment is an important form of financing startups and innovative projects, but it is associated with a high level of uncertainty and risks, such as technological failures, liquidity problems, competition and market instability. The purpose of the study is to identify the main risks that investors face when investing in startups, as well as to study effective strategies and methods for their mitigation.

International e-commerce is an important and rapidly growing sector of the global economy, which has significantly expanded its scope in recent еars due to digitalization and globalization. Key issues include access to international markets, optimization of purchase and sale processes, as well as transaction security and data protection. The importance of this topic is explained by the introduction of regulatory norms and standards aimed at creating a safe and efficient environment for e-commerce.

The article discusses the valuation of real estate oбjects for accounting purposes. The methods of valuation of real estate oбjects are shown using international financial reporting standards.

This article examines modern trends in the development of the international insurance market and their adaptation to the conditions of the Republic of Uzbekistan. Key macroeconomic factors, digital transformations, and regulatory changes affecting the insurance industry are analyzed. Special attention is given to the need to implement international standards such as Solvency II, as well as the prospects for life and agricultural insurance in Uzbekistan. The study concludes with recommendations on digitalization, financial literacy improvement, and the enhancement of the regulatory framework in the insurance sector.

In carrying out their activities, commercial banks, as well as any economic entities operating in a market economy, strive to obtain maximum profit. However, it should be noted that any operations carried out by banks have a high risk impact. The article analyzes the economic essence of bank risks, the scientific views and approaches of various scientists and researchers, and also pays special attention to their classification.

This article is dedicated to the study of the theoretical and practical aspects of self-employment. It examines research on the concept of self-employment by foreign and domestic scholars, its specific characteristics, and factors that have a direct impact. The role and significance of self-employment in reducing youth unemployment are revealed, and its age and regional characteristics are analyzed. The work being done in the republic to develop this sector and the opportunities being created are highlighted.