Central Asian Journal of Innovations on Tourism Management and Finance

Institutional-Indicator Approach to Assessing the Effectiveness of Regional Innovation Policy

2025-11-05T22:54:52+00:00

This article analyzes the institutional-indicator approach to assessing the effectiveness of regional innovation policy from a scientific, theoretical and practical perspective. The study is based on a comparison of mechanisms for measuring the effectiveness of innovation policy in Uzbekistan and international experience for the period 2010–2024. The article highlights the advantages of the indicator approach, that is, its role in monitoring regional policy as a comprehensive assessment system that combines economic, institutional and social factors. The concept of the “Institutional Coherence Index (IHI)” is also developed, through which the effectiveness of innovation policy in Namangan region is analyzed based on empirical data. The results of the study show that the indicator approach allows us to determine not only economic growth, but also the interrelationship between scientific potential, technological infrastructure and the management system. This methodology allows us to comprehensively take into account institutional factors in addition to traditional economic indicators when assessing innovation policy.

Enhancing the Export Potential of Small Business and Private Entrepreneurship in Uzbekistan

2025-11-08T00:57:12+00:00

This study examines the factors that shape the export potential of small businesses and private entrepreneurship (SBPE) in Uzbekistan, with a focus on the Surkhandarya region. SBPE has been shown to support sustainable growth, regional development, employment and integration into global value chains. However, key constraints to export performance include limited access to finance, weak logistics infrastructure and costly certification. The research employs econometric models (OLS and panel regression), gravity analysis and index-based measures (Revealed Comparative Advantage (RCA), Trade Complementarity Index (TCI) and Productive Capacity Index (PCI)) to evaluate competitiveness and diversification. The findings suggest that improved financial access, digital trade platforms and state subsidies have a positive influence on export growth, whereas logistics and certification costs hinder it. Regional results show that Surkhandarya's exports increased 1.6-fold between 2020 and 2024, although there are still significant disparities between districts. Rising RCA and PCI values signal a shift towards higher-value output and quality improvement. The paper recommends strengthening financial support, upgrading logistics, streamlining certification processes and accelerating digitalisation alongside industrial modernisation, e-commerce expansion and the development of regional export clusters, in order to foster inclusive and sustainable SBPE export growth.

Theoretical and Methodological Foundations of Systemically Important Banks

2025-11-08T01:09:57+00:00

The article theoretically studies the activities of systemically important banks. In particular, the opinions and scientific research of economists on this issue are studied. At the same time, the main emphasis is placed on the methodology for identifying global and national systemically important banks.The study highlights the critical role of systemically important banks in maintaining financial stability, preventing systemic crises, and ensuring resilience in the banking sector. It also examines how these banks’ size, interconnections with other financial institutions, substitutability of their services, and cross-jurisdictional activity contribute to systemic risk. By reviewing both theoretical approaches and practical regulatory measures, the article emphasizes the need for additional capital, liquidity, and risk management requirements for SIBs. Moreover, the study discusses the global and national policy implications, including the formulation of early warning mechanisms, stress-testing practices, and macroprudential oversight.

Organization of “Consumer Cooperatives” in Organic Agriculture - A Factor For Increasing Employment and Income of The Population

2025-11-09T15:51:40+00:00

In the article, on the basis of the study of local and foreign experiences of the development of organic agriculture, conducting a social survey among the population, the necessity and socio-economic significance of the organization of “consumer cooperation” was scientifically explained, and the organizational stages of consumer cooperation were developed. Also, the role of cooperation in increasing the employment and income of the rural population is revealed.Within the framework of the study, the main organizational stages and mechanisms of forming consumer cooperatives were developed, taking into account the specifics of rural socio-economic conditions. Particular attention was paid to the institutional, legal, and financial aspects that ensure the effective functioning of such cooperatives. The analysis of international experience demonstrates that consumer cooperation contributes significantly to improving the competitiveness of organic products, ensuring product quality, and enhancing market access for small producers.

Status and Analysis of Performance Management in Consulting Services Companies

2025-11-12T16:15:46+00:00

This study examines the development, efficiency, and performance management of consulting service enterprises, which play a vital role in the economic growth of Uzbekistan’s service sector. Efficiency, as an economic category, reflects the rational use of available resources and is crucial for enhancing competitiveness and innovation. The research highlights the importance of implementing Key Performance Indicators (KPIs) and Balanced Scorecard (BSC) systems to evaluate and improve enterprise performance. Empirical analysis of the Samarkand region shows substantial growth in service sectors, with consulting and IT-related services reaching 2,002.3 billion UZS in 2024, a 46.7% increase compared to the previous year. The study identifies strategic planning, KPI development, monitoring and analysis, employee motivation, and digital transformation as essential components of performance management in consulting firms. Moreover, the SERVQUAL model is emphasized as a practical tool for assessing service quality across dimensions such as reliability, responsiveness, and empathy. Findings indicate that performance management in consulting enterprises is most effective when it integrates strategic goals, quality assurance, and human resource development. In conclusion, the consulting services sector significantly contributes to Uzbekistan’s economic modernization, supporting private entrepreneurship, employment, and competitiveness through innovation and digitalization.

The RegTech Revolution: Cutting Compliance Costs with Automation (2025)

2025-11-13T09:53:15+00:00

Over the last 10 years, compliance costs of financial institutions have risen steeply due to more stringent regulations, higher volumes of transactions and manual processes. Regulatory Technology (RegTech), which applies automation, analytics, and digitization to compliance, seeks to reverse this trend by enhancing Know Your Customer (KYC) onboarding, anti-money laundering (AML) monitoring, trade reporting, and other aspects of risk control. In this respect, this article presents original research on the degree to which RegTech can reduce compliance costs while providing the same or higher degree of effectiveness. In 2023, worldwide financial crime compliance expenditure surpassed $200Bn per annum, and banks are allocating as much as 10–15% of their operational costs to compliance. If you want to reduce operational risk, the false-positive alert in a way that involves high-volume tasks (customer due diligence & transaction screening) can be automated with over 50%, and the case handling time is reduced up to two to three times the limit by the help of end-to-end automation of certain tasks. We map its key processes - KYC, sanctions screening, transaction monitoring, trade reporting, model risk management - to their major cost drivers, and we highlight areas for automation that decrease manual hours, speed up turnaround times, and enhance the accuracy of risk detection. Use cases for banking, capital markets, insurance, and fintech have early adopters pointing to meaningful outcomes - weeks-long onboarding times are down to days in major banks, alert volumes are halved, and millions in annual compliance costs saved. It includes an ROI model that gives you formulas to compare baseline and automated costs, and reports payback periods of under 3 years. The findings show that RegTech can create a major shift in efficiency, allowing institutions to do more while spending less on manual compliance. This lets them focus more on real risk management without reducing effectiveness or adding new risks.

Uzbekistan's Accession to The World Trade Organization and Its Impact on The Tax System

2025-11-17T16:29:45+00:00

The Entry of Uzbekistan to the WTO and the Formation of New National Taxation System: Aspects of Research A brief introduction that describes what the plan will focus on with the intention to diversify the economy, boost exports and become more integrated into global markets. The lack of awareness is about how the transition economies adjust indirect taxes, duties and tariffs to the World Trade Organisation rules. The methodology uses unique qualitative data across national laws, tax policy and trade agreements The findings suggest that countries are able to use embarrassing access to the world trade organisation to drive the national economy down towards lower level tariffs, equalised domestic and import based excises, abolish the export subsidy and enhance harmonization in value added tax The results are less ambiguities, a more stable and predictable trading environment, and domestic producers will be more competitive. Provided such reforms require much adaptation, but guarantee long-lasting export driving forces and a contribution to embedding Uzbekistan in global economic processes with both further enhancing its competitive position in international markets.

Changes in Hormonal Spectrum in Ovarian Polycystosis with Clomiphenrezistence-Binding Infertility

2025-11-18T15:31:54+00:00

This study studied the risk factors for the development of recurrent polycystic ovaries, the role of obesity in its development. For the study, 92 women with recurrent polycystic ovaries aged 19-35 years with and without obesity were studied in the control group of 20 healthy women living in the Bukhara region. The study concluded that hyperinsulinemia plays an important role in the development of the disease in patients with obesity-related OC, while dysfunction associated with the hypothalamic-pituitary system (induced by stress), on the other hand, plays an important role in the development of OCJ independently. from obesity in patients of the second group.

A Comprehensive Analysis of Industrial Structure for The Development of Regional Industrial Potential

2025-11-20T14:45:04+00:00

The paper compares the structure of industrial branches in the regions of Uzbekistan in terms of its impact on long-term industrial potential. But even though industry had been growing across the country, regional contrasts remained stark. While earlier work covers some aspects of diversification and innovation, there is still a disconnect with studies that see industrial capacity more holistically in terms of technology chosen, resource use, intersectoral collaboration, and regional imbalance. This analysis is based on official regional data from 2012-2024, including production size, per capita output, labor conditions and active enterprises size. To understand the functionalities driving growth we grouped regions by their level of development.

Results indicate a deep schism. The industry of Tashkent City and Navoi has more modern technology and greater productivity. Tashkent Region and Andijan continue to develop steadily, but they are based on older structures in many areas. Resources are abundant in the remaining areas, but infrastructure, technology, and investment are limited. Still, recent advances show new clusters, fresh digital tools and emerging manufacturing zones are closing the gap bit by bit. The results show that industrial might requires more than raw materials but also modernization, stable investment, and effective productive networks. Improving on these fronts can help ensure a fuller range of growth in the rest of the country. In conclusion, the study serves as a useful framework for informing regional industrial policy and orientating prospects of development.

Development and Innovation of Tourist Flow Products for World Cultural Heritage Sites

2025-11-26T10:19:03+00:00

The furthering of the Rural Revitalization Strategy and the integration trend between culture and tourism have made tourism value development for rural cultural heritage a key theme both in academia and industry. As a UNESCO World Cultural Heritage site, Hailongtun Fortress (Zunyi, Guizhou) is a typical representative of Tusi sites in Southwest China with important cultural significance. But the tourism product is largely static, not responsive to the Carusos of today who condense cultural immersion into one long weekend. In this context, turning these cultural heritage resources into experiential cultural tourism products that are in accord with preservation and innovative demands has become an urgent practical task. Taking Hailongtun as an example, the essay investigated ways of development and development model that are new for Rural Cultural Heritage Tourist Products. It proposes that the preservation of cultural heritage can be a sustainable development lust for the tourism economy, provides theoretical support and practical guidance value for similar heritage sites. Based on findings from its field research, interviews with 20 respondents including tourists, managers and local residents, and SWOT analysis the study systematically provides an assessment of Hailongtun's resource endowment and present state. Based in the theory of the “Experience Economy,” the article builds a framework for product innovation. The research results point to several deficiencies at Hailongtun: lacking dimension of broken narrative, inadequate participatory experience, inactive connection with community benefit.

The Effectiveness of Digital Technologies and Smart Tourism Platforms in The Tourism Industry

2025-11-28T14:44:46+00:00

In tourism, the role of Information and communications technologies (ICT) and smart tourism platforms are emerging as key drivers for achieving competitive success in the field of tourism. Through the internet, mobile apps and AI, industry insiders can better quality of products and services, attract more tourists and enhance economic benefits while building up tourism brand. Meanwhile, the appropriate utilization of Cutting-edge technology will also allow travelers to enjoy advanced service experience with high comfort and safety standards, promoting the sustainable development of tourism industry. Large-scale reforms have recently been carried out aimed at accelerated development of the tourism industry and making it one of the leading branches in economy of the Republic of Uzbekistan. Especially, the introductory plans for digital and smart tourism have been accepted and executed. The piece considers the grounds for reform, how these changes may be realised and what their likely impact will be.

Analysis of The Tools Used in The Assessment of Leasing Assets and Liabilities in Accounting

2025-11-29T14:21:33+00:00

This article examines the significant differences between the national accounting standards of Uzbekistan and the International Financial Reporting Standards (IFRS 16) concerning the recognition and accounting of lease transactions. Using financial data from Uzagroleasing JSC and Uzbek Leasing International JSC for the period 2019-2024, the study highlights the discrepancies in lease classification, balance sheet recognition, and expense reporting. The paper proposes a conceptual model for harmonizing national standards with international requirements to improve financial transparency, risk assessment, and investment attractiveness.

Assessment of Financial Stability and Risks of Investment Objects in The Due Diligence Process

2025-11-29T15:32:50+00:00

This article explores the role of Due Diligence in assessing the financial stability and risk exposure of investment objects. It introduces two analytical models: the Financial Stability Index (FSI) for quantitative evaluation and the Risk Matrix for qualitative risk categorization. Using a mixed-methods approach, the research validates the applicability of these models to real-world corporate analysis, offering valuable insights for investors, auditors, and decision-makers involved in the investment process.

Stimulating Investments in Industrial Enterprises Based on Innovative and Digital Approaches

2025-11-29T15:35:44+00:00

The development of national economy is impossible without industrial enterprises. Digital and innovation approaches are the main techniques that will stimulate investments and increase the financial productivity of the enterprises Through the application of innovative and digital approaches, the article aims to determine the most effective methods for the promotion of investment activities in industrial enterprises. The methodology of the study used both qualitative and quantitative research methods. Data Based on enterprise reports, financial indicators, surveys and Interviews. Statistical and econometric analysis methods have been used to analyse the results. The findings show that the introduction of innovations and digital transformations facilitates the investment process and improves the transparency of transactions of organizations and their financial performance as well. In addition, digital tools lower risks and increase the investable universe of businesses. Innovative and digital approaches together act as a powerful tool to encourage investments in Industrial businesses. Results of the study provide practical recommendations for managers of enterprises and strategists of management of enterprise as for how to carry out the administration of investment activity more effectively and to improve them.

Prospects for Managing Human Resources Through Artificial Intelligence: An Applied Scientific Approach Based on the Case of Uzbekistan

2025-11-30T08:44:25+00:00

This study investigates the prospects of integrating artificial intelligence (AI) technologies into human resource management (HRM) practices in Uzbekistan. The research develops a national HR–AI framework based on a comparative analysis of global HR systems (SAP SuccessFactors, Oracle HCM, Workday) and local digital platforms (ARGOS). A pilot implementation of the “Milliy CRM” AI-driven HR platform was conducted at the textile enterprise SANAM MCHJ, where key HR processes were digitalized, including candidate screening, competency assessment, training, KPI monitoring, employee experience analysis, and churn-risk prediction. Mixed-method results demonstrate that AI enables data-driven, transparent, and efficient HRM: employee turnover decreased by 39%, productivity increased by 27%, and employee satisfaction improved by 24%. The analysis reveals substantial improvements in organizational stability, fairness of performance evaluation, and overall workforce motivation. The study argues that “Milliy CRM” can become a strategic digital infrastructure for modernizing the labor market and enhancing human capital development in Uzbekistan. Recommendations are proposed for ensuring ethical, transparent, and human-centered AI deployment in HRM.

Ways to Improve the Financing of Innovative Activities of Entrepreneurial Entities

2025-11-30T12:09:49+00:00

The article presents a scientific-theoretical and practical analysis of the issue of financing the innovation activities of business entities. Based on the results of the analysis, scientific and practical recommendations have been developed to improve financing the innovation activities of business entities.

Tourism in the Field of Education and Scientific Research Tends to Diversify

2025-11-30T12:46:51+00:00

In the global panorama of touristy it is a sector that has grown considerably, especially as the networks for scientific research and education significantly contributed to the diversification of the tourism space. Due to its ability to influence international trade and its capacity to promote social and cultural integration, tourism has increasingly been identified as a key sector for economic growth. The tourism sector in Uzbekistan has been recognized as strategic by the government with an emphasis on raising the quality of education and training specialists to match the requirements of a rapidly growing industry. Yet the system has such an elaborate system of learning framework that not bridging the disparity between market needs and education systems. Although the conceptual underpinnings of sustainable tourism and professional tourism education have been firmly established, theoretical research on tourism education diversification in response to market requirements and qualifications of tourism personnel, are still scarce. The paper seeks to investigate the diversification attentions of tourism education and its responsiveness estimate this industry force, including sustainable tourism and professional training. As such, the key results further emphasise the need for diversification in tourism education at the pre-university to higher education and professional development levels. The analysis cited the need for more tailored training programs and for a closer alignment of educational systems with the needs of industry. The paper presents the idea of combining professional training in tourism with the international requirements of sustainable development and the needs of the tourism labor market of Uzbekistan. This research would also help the policymakers, educationists, and tourism industry stakeholders create a holistic educational landscape towards bridging the gap and creating an element of a more competitive and sustainable tourism sector.

The Role of Marketing Strategies in Enhancing the Economic Development of Beekeeping Enterprises

2025-11-30T14:52:14+00:00

This article examines the role of historical traditions and the economic, social and legal conditions that influence the development of beekeeping enterprises. Particular attention is given to effective marketing strategies that can enhance the sector’s competitiveness and sustainability. The study reviews the views of domestic and international scholars, explores the global honey production and export landscape, and analyses the Republic of Uzbekistan's regional performance in this field. Furthermore, the volume and dynamics of honey production are assessed, and the author presents their conclusions based on analytical findings and economic evaluation.

Effective Use of Eno-Tourism Resources in Our Country, Its Current State and Development Prospects

2025-11-30T15:30:28+00:00

This article examines the potential, prospects and practical significance of wine tourism in Uzbekistan. Wine tourism is closely related to gastronomic and agrotourism, and is closely linked to the climatic, geographical and historical potential of the country. The article provides recommendations for the development of wine tourism in Uzbekistan, based on world experience. These include the following main areas: planning wine destinations, planning wine festivals, creating marketing plans, improving infrastructure, supporting regional producers and training qualified workers. Legislative restrictions, insufficient infrastructure and lack of branding are simultaneously taken into account. The results show that the development of wine tourism is an important factor in the development of the tourism sector of Uzbekistan, as well as the economic activity of rural areas and strengthening its international image.

Linguocultural Analysis of Some Place Names (Toponyms) in Gafur Gulyam's Story "Shum Bola"

2025-11-30T15:45:24+00:00

The article examines the linguistic sources of Gafur Gulom's story "Shum bola" that is, the relocational characteristics of the above toponyms. Names of places (cities, neighborhoods, villages, marketplaces, hydronyms) and this source was evaluated as a significant and valuable source to reconstruct the history and geography of the Tashkent oasis in the early 20 century. During the research process, scientifically based explanation of the etymological structure of the toponyms, their correlation with the lifestyle of the peoples, the profession system, traditions, and cultural memory is given. And also, the linguocultural importance of toponyms in revealing inter-social relationship, craft centers, the trade system, and the urban structure of old Tashkent is disclosed on the example of neighborhood names, excluding Kokterak, Chuvalachi, Qoplonbek, To'qli jallob, Eshonbozor. The finding of this article exhibits why we should study the story the Naughty Boy not only as a piece of literature, but issues concerning ethnography, history, and onomastics. A scientific conclusion is substantiated about the possibility of building a historical dictionary of the toponymy of old Tashkent by the above-mentioned toponymic units.

The Concept of Innovation Activity in Tourism and Its Significance

2025-12-01T11:44:56+00:00

The need for innovations in tourism and importance of innovation activity is the focus of this study, which is a natural and urgent process of development for competitiveness and sustainability of tourism. At the present stage of development of the global market, accompanied by a growing competition of destinations, innovation has become the engine of economic growth, improvement of the quality of service and diversification of tourism products. The objective of the study is to determine how modern innovation-based approaches should be used as tools for developing new services with modern management processes providing considerable sustainable socio-economic effects on the regional economy. The research method is the comparative analysis, systematization of existing scientific literature, and an assessment of current trends in tourism innovation. Emphasis is placed on digital transformation and use of emerging technologies, as well as on modern tourism infrastructure. Besides, the impact of innovation management on enhancing organizational effectiveness and minimizing operational risks in tourism agencies is also discussed in the study. The results show that innovative activity influences not only economic results (increased revenue, number of jobs created, and enhanced resource utilization) but also reinforces the social importance of touristic activity at the service level, manifesting as increased safety, accessibility, and consumer happiness. The melt of the innovative analysis reveals the essential needs of product tourism creation in competitive environment, marketing destinations in the atmosphere of the global consumer market, and adoption to constantly changing consumer preferences and external marketing environment variables. The research ends with a final thought that in order for innovative development of the tourism sector to succeed, tourism sectors need to implement well-integrated, scientifically grounded and efficient management process, along with investment, technological modernization and balanced policies at the national and regional levels. Such measures are necessary for sustainable tourism development and will contribute to long-term competitive advantages.

Gоldеn Rulеs fоr Sеrving аnd Рrоviding Sеrviсеs tо Сustоmеrs with Sресiаl Nееds

2025-12-01T11:55:06+00:00

Thе grоwth оf inсlusivе есоnоmiс sуstеms hаs highlightеd thе imроrtаnсе оf еnsuring еquitаblе ассеss tо sеrviсеs fоr сustоmеrs with sресiаl nееds. Асrоss hоsрitаlitу, tоurism, trаnsроrtаtiоn, еduсаtiоn, hеаlth sеrviсеs, bаnking, аnd рubliс аdministrаtiоn, оrgаnizаtiоns inсrеаsinglу rесоgnizе disаbilitу-inсlusivе sеrviсе dеlivеrу аs аn indiсаtоr оf sосiаl rеsроnsibilitу аnd lоng-tеrm соmреtitivеnеss. This аrtiсlе еxаminеs “gоldеn rulеs” fоr sеrving сustоmеrs with disаbilitiеs—inсluding рhуsiсаl, sеnsоrу, соgnitivе, аnd hiddеn disаbilitiеs—аnd аnаlуzеs hоw оrgаnizаtiоns саn dеsign ассеssiblе еnvirоnmеnts, соmmuniсаtiоn strаtеgiеs, stаff trаining рrоgrаms, аnd tесhnоlоgу-bаsеd sоlutiоns. Drаwing uроn intеrnаtiоnаl litеrаturе, glоbаl оrgаnizаtiоnаl frаmеwоrks, аnd rеаl-lifе еxаmрlеs, this рареr оutlinеs а соmрrеhеnsivе sеrviсе mоdеl. Quаntitаtivе аnd quаlitаtivе аnаlуsis оf саsе studiеs frоm thе Unitеd Stаtеs, Еurоре, аnd Сеntrаl Аsiа dеmоnstrаtе hоw inсlusivе sеrviсе strаtеgiеs inсrеаsе сustоmеr sаtisfасtiоn, соrроrаtе rерutаtiоn, аnd finаnсiаl оutсоmеs. Thе findings оffеr а struсturеd sеt оf guidеlinеs аnd рrасtiсаl rесоmmеndаtiоns fоr оrgаnizаtiоns sееking tо аdорt inсlusivе sеrviсе stаndаrds.

On The Theoretical Foundations of Pop Art

2025-12-01T15:36:33+00:00

Alongside this, the article7 discusses the conditions under which Uzbek musical estrada has evolved into its own historical and cultural phenomenon, and why its essence remains so vague in scholarly studies. The pop music in Uzbekistan enjoyed rapid expansion in the latter half of the twentieth century and became a central part of public celebrations, media programming, and concert life, the field still remains conceptually splintered. Words like light music, mass music, beat, rock and common music are used for expressing the same thing but none of these terms reflects the fullness of this largely artistic reality. In order to cover this gap, the study builds on descriptive, historical comparative and typological approaches, examining both the literature and music samples. This method enables one to follow the gradual crystallization of estrada as a distinct performance style, rhythmic idiom, and function within contemporary Uzbek cultural practice. These results indicate that neither foreign categories or the Soviet-era notion of mass music can completely account for estrada. It evolved with proximity to the national musical traditions of Uzbekistan, which influenced its melodic roots and performance techniques. Thus, estrada, was popularised as a stand alone musical genre comprised of singable tunes, catchy rhythm, and showed performance.aaqaq222

Enhancing Cooperation Between Science and Production in Higher Education Institutions as A Key Factor for Increasing the Competitiveness of the Educational Services Market

2025-12-02T16:02:36+00:00

This article examines the affordability of the educational services market through the proliferation of science and industry interaction in higher education in Uzbekistan. The role of sci-tech advancement for economic growth through the highly productive nature of the education system and the increasing quality of higher education is becoming more valuable. That's why the cooperation of educational institutions with science and production is an important component of increasing the competitiveness of the educational services market. The need, as well as the importance of collaboration between science, education, and production in the context of improving the competitiveness of the economy and education of the country are considered in the article. It also examines the policies and measures set in Uzbekistan by governmental bodies to improve these integration activities, that aim to tightly link scientific and educational processes with the industrial sector and establish innovation advancement directions.