Characteristics of The Development of Free Economic Zones in Uzbekistan
DOI:
https://doi.org/10.51699/cajitmf.v7i2.1185Keywords:
Globalization, diversification, technology transfer, innovative cooperation, employment multiplier, local industrial area, locomotive regions, econometric model, diffusion rate, composite indexAbstract
Especially in the context of globalization and increasing regional competition, free economic zones serve as one of the engines to promote regional development and investment promotion in Uzbekistan. While free economic zones have gained considerable importance, the majority of studies cite the effectiveness of free economic zones through only investment and export indicators, so their impact on regional economic development through the prism of digital governance and administrative efficiency have been given limited consideration. The purpose of this study is identifying the features of cluster and digital governance indicators in the formation of regional development based on free economic zones in Uzbekistan. This paper proposes an econometric approach to assess the effectiveness of attraction of investments in free economic zones, as well as a composite index to analyze the two-way relative statistical dependence between digital governance, investment attraction by free economic zones and economic development of regions in the context of transformational changes. According to the results, it is mentioned in the study that free economic zones have a positive impact on regional economic development as it increase inflow of investment, diversify industrial production as well as technology transfer and employment generation. These findings suggest that the success of free zones depends not only on tax breaks and infrastructure but vital governance, bureaucratic efficiency, and e-governance systems. This study demonstrates that free economic zones are to be seen as digitally governed platforms of development facilitating investment diffusion and regional economic integration. The findings yield practical implications for refining digital governance mechanisms and enhancing the role of FEZs in sustainable regional development.
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