Vol. 3 No. 11 (2025): Economic Development and Analysis

This article analyzes the legal foundations, methodology and initial results of implementing the stability rating system for business entities in Uzbekistan. The aim of the study is to explain the essence of the rating system, to identify changes in the assessment criteria and to determine their impact on tax compliance and the stability of the business environment. Methodologically, the research employs descriptive and analytical analysis, a comparative approach based on international experience, diagnostic assessment and digital monitoring techniques. The empirical base relies on the information systems of the State Tax Committee, official statistical data and national regulatory acts. The findings show that, after the introduction of the stability rating, there has been a significant increase in timely tax payments, on-time submission of tax reports, the use of electronic invoices, overall employment and the employment of socially vulnerable groups. Furthermore, the paper substantiates that calculating the rating on the basis of 30-day average scores and introducing new incentive and penalty indicators have enhanced the transparency of the system and expanded the possibilities for selective fiscal management. The author proposes further improvement of the rating system, taking into account sectoral and regional specificities, as well as its more active use in the practices of banks, investors and public procurement.

The rapid development of the tourism industry is generating deep structural changes in the management of tourism infrastructure in Uzbekistan. This article provides a systematic analysis of the key components of tourism infrastructure, its development trends, and interactions with major economic factors. The study comparatively examines statistical data from 2016-2024 on the expansion of hotel capacity, improvements in transport and logistics systems, growth in investment flows, formation of regional tourism clusters, and service quality enhancements. Moreover, the impact of infrastructure development on tourism demand, the impulse of state policies and reforms on the sector, as well as pandemic-related disruptions and post-pandemic recovery dynamics, are assessed using econometric models. The findings contribute to the development of practical recommendations aimed at modernizing tourism infrastructure, increasing international tourist inflows, improving regional infrastructure efficiency, and ensuring sustainable economic growth.

This article examines the theoretical foundations of the synergistic approach in land resource use, explores its practical applications, and highlights its economic, ecological, and social benefits. The synergistic approach enables sustainable outcomes through integrated land resource management, cooperation among various stakeholders, cross-sectoral integration, and the use of innovative technologies. The author analyzes the essence of synergy from the perspective of modern scientific approaches and reveals the interconnections between agriculture, ecology, and economics.

This article examines the practical role of mahalla institutions in promoting employment, evaluates the effectiveness of existing organizational and institutional mechanisms, and substantiates the need for their improvement. The survey conducted at the mahalla level reveals that employment remains insufficiently prioritized among the main areas of mahalla activity, and current initiatives lack systematization. Within the study, an integrated institutional–organizational mechanism was developed to strengthen the functions of mahalla institutions across diagnostics, vocational training, support for self-employment initiatives, mobilization of financial resources, and monitoring. The proposed mechanism is aimed at enhancing the institutional capacity of mahalla governance in employment promotion, supporting household-based entrepreneurship, and revitalizing local labor markets.

This article examines the priority directions for enhancing the tourism potential of Navoi region, Uzbekistan. It analyzes the current state of tourism infrastructure, digital transformation processes, and principles of sustainable tourism. Based on a cluster approach, digital innovation and green economy principles, scientific recommendations were developed to increase regional competitiveness and ensure efficient use of resources. The results provide a basis for strategic planning and sustainable tourism policy in the Navoi region.

This article examines the methodological foundations of preparing the balance sheet, directions for its improvement, and issues of expanding analytical capabilities. The balance sheet is considered the primary source of information when assessing the financial condition of an enterprise, and its proper formation is crucial when making financial decisions. The article describes modern approaches to determining the composition of assets and liabilities, analyzing the balance sheet structure and liquidity level, as well as the possibilities of increasing the information value of balance sheet data through digital technologies and automated accounting systems. The research results serve to effectively use the balance sheet data, assess the financial stability of the enterprise, and optimize management decisions.

This article examines how financial stability in agriculture can be enhanced through the integration of budgetary, insurance and banking mechanisms of agricultural financing. The main purpose of the study is to assess the synergistic effect of combining government budget support, agricultural insurance and commercial bank lending in the context of Uzbekistan’s rural sector. The methodological framework includes a literature review, correlation and regression analysis, an insurance pricing model, credit risk analysis and the assessment of a farm capitalization index. The empirical database is built using statistics from international organizations such as the IMF, FAO, World Bank and OECD, as well as official data from Uzbekistan. The results show that higher public agricultural expenditure reduces the volatility of agricultural growth, expanded insurance coverage improves farmers’ access to credit, and insured loans exhibit significantly lower default probabilities. The relatively low farm capitalization index indicates that Uzbekistan’s agricultural sector is undercapitalized and constrained in terms of long-term investments. The authors argue that the integrated use of budgetary support, insurance schemes and bank lending should be viewed as a strategic direction for strengthening financial stability in agriculture and propose practical policy recommendations for agricultural and financial authorities.

This article investigates the theoretical foundations of intangible asset accounting in public healthcare institutions and examines their economic and social significance under digital transformation. The research reveals that intangible assets — including electronic medical records, health information systems, licenses, clinical protocols, medical databases, and intellectual resources have become the main drivers of service efficiency and organizational performance in healthcare institutions. An Integrated Assessment Index (IAI) model is developed based on five indicators: value of information systems, clinical licenses, medical database value, efficiency of electronic services, and intellectual capacity. The findings demonstrate that relying solely on financial indicators to assess intangible assets is insufficient, and a multidimensional approach that incorporates social benefits and service performance must be applied. The results provide practical implications for improving accounting policies, enhancing funding efficiency, and strategically managing intellectual resources within the digital economy environment of the healthcare sector.

This article provides a comprehensive analysis of the key drivers of educational tourism development in Uzbekistan, focusing on the flow of international students, the expansion of foreign university branches, the modernization of educational infrastructure, and indicators of global competitiveness. An integrated assessment model is developed based on these indicators, and the overall progress for 2019–2025 is examined through a scientific and systematic approach. The study also identifies current challenges infrastructure gaps, migration and visa complexities, insufficient international accreditation and highlights the practical measures being implemented to overcome them. The findings offer strategic insights and recommendations aimed at strengthening Uzbekistan’s position as a competitive hub for international education.

This article provides a scientific analysis of the need to modernize the tourism services management system in Uzbekistan and identifies key challenges along with strategic directions for improvement. The study employs statistical analysis, comparative analysis, the TOWS matrix, and content analysis methods. The findings reveal that the sector still faces several critical issues, including institutional fragmentation, weak digital integration, uneven service quality across regions, limited staff qualifications, and insufficient marketing effectiveness. Furthermore, the research highlights that the development of smart tourism, implementation of digital platforms, adoption of international service quality standards, and increased involvement of local communities are crucial factors for modernizing the sector. The article proposes comprehensive solutions and serves as a valuable academic source for policymakers seeking to enhance tourism management in Uzbekistan

This article provides a comprehensive analysis of the process of modernizing Uzbekistan’s tax system based on digital technologies. It reveals the essence of digitalization, its role in improving the efficiency of tax administration, as well as its specific strategic significance within the system of public governance. As practical outcomes of digital reforms, the article examines in detail the electronic document exchange system, platforms for submitting online tax declarations, the taxpayer’s personal cabinet, the information security infrastructure, integrated databases among tax authorities, and automated control systems. In addition, the study thoroughly analyzes the main problems encountered during the digitalization process, including infrastructure disparities between regions, insufficient internet speed and technical support, low digital literacy among the population and entrepreneurs, gaps in legislation, and cybersecurity risks. Along with the organizational, economic, and technical barriers faced in implementing digital systems, the article develops scientifically grounded proposals for overcoming these problems. The results highlight effective mechanisms for increasing transparency, reducing tax administration costs, minimizing human-factor-related errors, and creating convenient conditions for taxpayers through the modernization of the tax system. The findings are expected to be of practical significance for tax authorities, economic experts, business entities, and state institutions implementing digitalization policy.

This article evaluates the effectiveness of corporate governance in state-owned enterprises in Uzbekistan using the institutional iSOEF diagnostic framework and practical indicators from the WBES dataset. The findings indicate that weak transparency, irregular audit practices, insufficient board independence, slow corporatization processes, and high regulatory burdens constrain governance quality and amplify institutional risks. The integrated analysis of macro- and micro-level information reveals the systemic nature of these challenges and provides evidence-based recommendations for modernizing corporate governance within the state sector.

The article scientifically analyzes the role and importance of human capital in the innovative development of the economy. Human capital is considered as one of the main driving forces of innovative processes, and its structural aspects related to knowledge, skills, potential, and a creative approach are highlighted. Also, priority areas for increasing personnel potential, improving the education system, supporting scientific research, and developing relevant infrastructure in the formation of an innovative economy are indicated. The research results confirm that investments in human capital are a decisive factor in the country's economic growth, increasing competitiveness, and strengthening innovation activity.

This article examines the prospects of implementing “green mortgage” programs in Uzbekistan and their economic effectiveness. Drawing on international experience, the study explores the advantages of green mortgages, including preferential interest rates, energy-efficiency certification systems, and refinancing mechanisms for banks. The findings indicate that green mortgage programs can significantly reduce energy consumption, modernize the housing stock, lower household expenses, and improve environmental sustainability. The analysis concludes that successful implementation in Uzbekistan requires strengthening the institutional framework, expanding financial incentives, and enhancing cooperation with international financial institutions.

This article analyzes the prospects for developing green finance products and creating innovative products in commercial banks. The research results indicate that green loans, ESG investments, and green bonds serve as essential tools for ensuring environmental, social, and economic sustainability in banking activities. Additionally, improving ecological risk management systems, cooperation with state and international financial institutions, and engaging young professionals and innovative ideas have been identified as key strategic directions.

This article provides a systematic analysis of the socio-economic significance of tourism digitalization in Uzbekistan. Drawing on the international experiences of South Korea, Singapore, Estonia, Spain, and Turkey, the study examines the impact of digital solutions such as smart tourism, e-visa systems, online booking platforms, digital marketing, and electronic payments on tourism development. The paper also evaluates recent trends in Uzbekistan’s digital infrastructure, electronic services coverage, tourist flows, and tourism exports. Comparative analysis reveals that effective use of ICT substantially enhances tourism efficiency, service quality, employment opportunities, and overall economic activity. The article concludes with recommendations aimed at further strengthening the digital transformation of the tourism sector.

This article explores the improvement of the accounting system for environmental investment expenses at enterprises in the construction materials industry. The study identifies that under the current national chart of accounts, such expenses are recorded under general production costs, limiting transparency and analytical control. Therefore, the paper proposes the introduction of a new account 8540 – "Financing of Environmental Investment Expenditures" and its sub-accounts 8541, 8542, and 8543. Comparative analysis with IFRS standards and practical implementation based on selected industrial companies were conducted to justify the effectiveness of the proposed model.

This article examines the issue of improving the structural structure aimed at increasing the effectiveness of marketing performance management in the management system of sewing and knitting enterprises.

This article analyzes the implementation of artificial intelligence technologies in commercial banking, examining their impact on operational efficiency, credit risk assessment, and customer service systems. International best practices were compared with the current state of the banking sector in Uzbekistan. The findings indicate that AI can reduce operational costs, enhance fraud-detection efficiency, and improve service speed; however, challenges related to data quality, algorithmic transparency, and cybersecurity remain. The study provides policy recommendations and practical measures to address these issues and to improve the effective integration of AI in banking operations.

The article summarizes the country's long-term progress in improving tax administration in the tax sphere, emphasizes the role and importance of the interregional tax inspectorate in improving large-scale reforms aimed at further strengthening the trust of business circles. Some important reforms implemented in the tax system of Uzbekistan have been studied, scientific and practical conclusions and proposals have been developed based on foreign experience and its application in our country.

This article analyzes the optimal composition of working capital and its impact on financial stability in small manufacturing enterprises. Using the textile industry as an example, it examines the important role of working capital in the production process of a company and the necessity of proper management to ensure financial stability. The article evaluates the main components of working capital, their optimal ratios, and financial stability indicators. It also presents strategies for managing working capital and ways to enhance their efficiency through modern technologies. The research findings include practical recommendations for small textile enterprises, which will help increase their competitiveness and ensure financial stability.

This article analyzes the importance of property tax, which is one of the most important sources of income in the financing of the local budget in the stabilization of the state budget, the possibilities of foreign experience in further improving the mechanism for calculating property tax.

This study provides a comparative analysis of innovative development models that have played an important role in the global economy in the 21st century. The article takes an in-depth look at the innovation systems of the United States, the European Union, the Scandinavian countries, South Korea, Singapore, Japan, and Germany. Five main models - open innovation, Triple Helix, cluster innovation, public governance, and corporate strategies - are analyzed based on statistical data for 2024. The results of the study show that each model has its own advantages and is adapted to the institutional environment and economic characteristics of countries. Hybrid models and the integration of sustainable development goals have become the main trends in modern innovation strategies. The recommendations presented for Uzbekistan determine the ways to develop the national innovation ecosystem.

This article analyzes the theoretical foundations and practical significance of the Extended Producer Responsibility (EPR) concept, which is an important component of the circular economy. The study highlights the role of EPR policies in reducing waste, promoting efficient use of resources, and fostering environmentally sustainable production. The introduction of this concept in the context of Uzbekistan is substantiated as being crucial for transitioning to a circular economy model, developing waste recycling infrastructure, and enhancing the environmental responsibility of producers.

This article analysis the development of MICE tourism (Meeting, Incentives, Conferences, Exhibitions or Events) has become one of the most dynamic directions in the global tourism industry, directly contributing to economic diversification, international cooperation, and the establishment of a favorable business environment. In the context of Uzbekistan, where the tourism sector is rapidly expanding, the integration of inclusivity principles into MICE tourism represents both a strategic necessity and an innovative approach. Inclusivity is understood as ensuring equal access and participation for all social groups, regardless of gender, age, physical ability, or regional background. This implies the creation of barrier-free infrastructure, accessible conference and exhibition facilities, the use of sign language interpretation, and the promotion of gender equality and youth engagement. The research emphasizes that inclusivity in MICE tourism not only broadens participation and strengthens social cohesion but also increases the competitiveness of Uzbekistan’s tourism market at the international level.

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

This article examines the concept of innovative marketing, its differences from traditional marketing, and its specific features. It emphasizes the dependence of innovative marketing on modern technologies, the need for government support for the development of innovative marketing in Uzbekistan, the need to foster a commitment to innovation among businesses, the creation of an appropriate infrastructure, and the ongoing updating of specialists' knowledge and skills. The article presents an analysis of the literature on this topic, the results of practical research, and the methodology.

This article compares traditional and modern needs for medical services, analyzes innovative trends in the development of the medical services sector, and examines characteristics of traditional and modern trends in medical service provision processes. Practical conclusions are drawn from this analysis.

This article analyzes the methodological foundations for applying Islamic financial instruments in Uzbekistan and proposes key directions for their improvement in line with international standards. A comparative evaluation of AAOIFI and IFSB guidelines, along with the experiences of leading Islamic finance markets such as Malaysia, the UAE, and Turkey, is conducted. The findings indicate that the development of Islamic finance in Uzbekistan requires enhancements in the legal framework, institutional structure, product design methodology, risk management practices, Shariah governance, and tax treatment. Addressing these methodological gaps is essential for ensuring the sustainable and effective growth of Islamic finance in the country.

Against the backdrop of rapid development in the knowledge payment industry and intelligent talent assessment platforms, the challenges of rising customer acquisition costs coupled with low user retention and repurchase rates have become critical constraints on sustainable platform development. Current practices often treat the one-time assessment and report delivery as the service endpoint, neglecting the systematic guidance of users’ subsequent behavioral decisions and long-term growth paths, leading to a massive exodus of users after the assessment. In response to this practical dilemma, this study systematically integrates consumer psychology and behavioral decision-making theories, employing a conceptual modeling approach within the design science research paradigm to construct a “User Continuous Growth Guidance Model”. The model delineates the user behavioral path into five interconnected stages—“Cognitive Trust Building,” “Emotional Identification and Value Alignment,” “Low-Threshold Behavior Initiation,” “Value Solution Presentation,” and “Growth Outcome Feedback and Reinforcement” and explicates the underlying psychological mechanisms and decision-making logic at each stage. Conceptually, the model suggests that by systematically embedding corresponding mechanisms into product design, platforms can transform one-time assessment relationships into long-term, growth-oriented partnerships, thereby significantly enhancing user lifetime value. This study not only provides an integrated framework for understanding user behavior in the assessment context but also formulates actionable guidelines for platform content structure design and operational strategy.

Nowadays, B2B data pricing models are dominated by the seller side, ignoring buyers’ perspectives. Traditional model results in reduced market efficiency and suboptimal financial outcomes for all stakeholders in the long run. This research analyzes components such as value levers (i.e., functions for buyers and sellers), a dynamic algorithm using LightGBM machine learning, and an API for real-time pricing.

This article examines the role of private investments in the development of pilgrimage tourism infrastructure in Uzbekistan, assessing their economic impact and the influence of recent reforms on the sector. The study employs statistical analysis, comparative (international) analysis, SWOT analysis, and content analysis to evaluate current trends and the investment potential of pilgrimage tourism infrastructure. The findings reveal that private sector involvement is becoming a key driver in modernizing infrastructure, improving service quality, and increasing the flow of pilgrims. In particular, the expansion of public-private partnership mechanisms, digitalization, cluster-based development, and strengthened international cooperation offer new opportunities for the sustainable growth of pilgrimage tourism.

This article examines the impact of Fintech technologies, automation processes, and the human factor on the efficiency of banking services. Based on the case of commercial banks in Uzbekistan, the study analyzes digital transformation processes and compares them with international practices. The findings indicate that Fintech automation, when combined with strong human capital, significantly increases service speed, accuracy, and customer satisfaction. The paper also proposes a “human–technology balance model” as a new conceptual approach to enhancing efficiency in the banking sector.

This article analyzes various theoretical foundations and methodological approaches to the efficiency of the modern capital market. The objective reasons for uncertainty in risk assessment and forecasting in the capital market are critically examined. The emergence of theories such as behavioral finance, the adaptive market hypothesis, and market microstructure is interpreted as new methodological approaches.

Central Asian economies have experienced notable economic restructuring and growing integration into global markets in recent years. This study analyzes the Product Complexity Index (PCI) of Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan from 2017 to 2024. Results show modest complexity gains in Uzbekistan, Kazakhstan, and Turkmenistan, linked to gradual industrial upgrading, while Kyrgyzstan and Tajikistan exhibit declining complexity due to reliance on low-value, resource-based exports. Strengthening product complexity is essential for export diversification, technological upgrading, and sustainable long-term growth in the region.

This article examines the issues of improving next-generation banking services in the context of economic transformations. The practice of providing next-generation banking services through modern financial technologies under conditions of digital transformation is analyzed. As a result of the research conducted on the topic, existing problems were identified, and practical proposals and scientific recommendations for their elimination were developed.

Special economic zones in Uzbekistan, as an institution of a market economy, occupy a special place in terms of their significant contribution to the development of regions. Currently, special economic zones (SEZs) are considered a priority area for attracting foreign and domestic investments. In this regard, assessing the effectiveness of special zones in the region and sectors of the economy and improving labor relations in them is an important research area.

This article examines in detail the factors influencing the competitiveness of the higher education system and the theoretical and methodological foundations for enhancing the impact of these factors on national development. The study focuses on the scientific and practical aspects of developing the higher education system and enhancing its competitiveness.

Determining the cost of production is a key factor for effective management in the manufacturing and service sectors. Modern costing methods, based on information technologies and complex models, simplify the process of determining and analyzing costs. These methods play a crucial role in optimizing production processes, efficiently managing costs, and making managerial decisions. Each method has its specific advantages, contributing to accurate calculations and achieving economic efficiency. The implementation of these methods based on modern technologies and expertise helps organizations enhance competitiveness and reduce costs.

The article discusses financial resources, financing issues, problems and their significance in the education system. At the same time, analytical approaches to the effectiveness of financial resources in educational institutions and the basis for implementing new financing models are presented.

This article provides a systematic analysis of the organizational and legal foundations of personnel selection for the public civil service in the Republic of Uzbekistan, as well as the ongoing reforms in this area. Based on official statistical data, the dynamics of recruitment processes for the public civil service are presented. The article also puts forward a set of proposals and recommendations aimed at ensuring the effective organization of public service, the introduction of modern mechanisms for personnel selection, and enhancing the efficiency of the sector.

. In the context of digitalization of the economy, small businesses are increasingly turning to artificial intelligence technologies to improve the efficiency of customer service and optimize business processes. One of the most promising areas is the introduction of intelligent chatbots that can automatically process customer requests, provide advice and support the user at the stage of making a purchase decision. This paper examines the process of designing and implementing a chatbot with elements of natural language processing designed to interact with small business clients. The development stages are described, including domain analysis, formalization of user scenarios, construction of the system architecture, selection of technologies, prototype implementation, and user testing. The results of the pilot implementation showed a high degree of relevance of responses, ease of interaction and the potential for integrating such a solution into the existing business environment. The data obtained confirm the feasibility of using intelligent chatbots in small businesses as a tool for automating primary consulting with limited resources.

In the article, a comparative analysis of the approaches implemented by the authors in revealing the nature of the category of economic efficiency of production activity in industrial enterprises was carried out and the author's definition was presented.

The article provides a detailed description of the role of international logistics, its functions, and the tasks associated with the development of international logistics, international economic relations, and international economic cooperation. Depending on the nature of the activity and the nature of the activity, the following types of activities are distinguished. In conclusion, recommendations are given.

In the economy, the majority of monetary funds circulate through cashless payments. Promoting the use of cashless payments and increasing their share in the total volume of payment transactions are among the key factors in ensuring sustainable economic growth and development. In addition to convenience, cashless payments offer a range of significant advantages.

The article presents a comprehensive analysis of the dynamics of gross regional product and GRP per capita across the regions of the Republic of Uzbekistan for the period 2010–2024. Based on statistical data, stable trends towards deepening territorial differentiation have been identified: the coefficient of variation of GRP per capita increased from 42.9% to 70.7%, exceeding the critical threshold of 50% established by international organizations. The gap between the most and least developed regions grew from 3.0 to 5.8 times. A periodization of regional polarization processes has been established, including three waves: moderate trajectory divergence (2010–2016), the beginning of active polarization during the reform period (2017–2020), and a sharp intensification of disparities (2021–2024). Regional clustering by the level of socio-economic development was conducted, identifying three groups: highly developed (Tashkent city and Navoi region), moderately developed (eight regions), and underdeveloped (four regions). The analysis showed that during the study period, not a single case of a region transitioning from one cluster to another was recorded, indicating the structural nature of regional disparities. The research results indicate the need for a radical revision of approaches to regional policy and the development of a comprehensive concept of territorial development.

The article analyzes the dynamics of the credit activity of JSCB "Microcreditbank", one of the commercial banks in the national economy, including the volume of loans and their share in the structure of assets, as well as the comparative status of assets and deposits and loans, the structure of loans by sectors of the economy, and the structure of general loans by preferential and commercial loans, as well as by individuals and legal entities, in 2020-2024. At the same time, conclusions are drawn and proposals are developed, having studied the theoretical and methodological aspects of the research direction.