Central Asian Journal of Innovations on Tourism Management and Finance

Comprehensive Development Of Labor Resources In A Changing Environment

2025-07-15T03:35:48+00:00

The article thoroughly analyzes the theoretical foundations and practical mechanisms for the comprehensive development of labor resources in the context of a changing external environment. Globalization, digitalization, technological, and innovative changes occurring in contemporary economic systems are disrupting existing labor market balances and necessitating new approaches to labor resource development. From this perspective, the article comprehensively investigates the external and internal factors influencing the qualitative and quantitative development of labor resources, examining their interconnections through a systematic approach. Using Uzbekistan as a case study, the author scientifically analyzes specific challenges affecting labor resource development, such as vocational training levels, shortage of qualified personnel, interregional disparities, and labor market supply-demand imbalances. The article clearly identifies the causes and consequences of these issues and develops practical recommendations for effective labor resource management. The comprehensive measures proposed by the author aim to transform labor resources into high-quality human capital, enhance their competitiveness in the labor market, increase adaptability, and sustain economic stability. Additionally, the article provides specific proposals and recommendations for improving state policy, strengthening the regulatory framework, and developing practical mechanisms for comprehensive labor resource development. The article’s findings can serve as a theoretical and practical resource for state and local governance bodies, labor market stakeholders, and researchers in the field of economics.

Problems of Ensuring Profitability in Commercial Banks

2025-07-16T14:21:34+00:00

Profitability is a key indicator of financial stability and sustainable growth for commercial banks. In the context of Uzbekistan’s ongoing financial sector reforms, maintaining a stable return on assets and net interest margin has become increasingly important. This article investigates the main challenges faced by commercial banks in achieving profitability, including the management of non-performing loans, the effectiveness of reserve provisioning, and the impact of interest income structures. By analyzing statistical data from both domestic and international banks, such as Asakabank, Aloqabank, and Bank of America, the study provides practical recommendations to improve credit portfolio quality, enhance risk management systems, and optimize income-expense ratios. The findings emphasize the need for strategic reforms that ensure the proportional growth of net profits and risk-weighted assets, while aligning with international standards for banking profitability.

Evaluating the Impact of Financial Technology on Banking Sector Performance An Applied Study of a Sample of Iraqi Banks

2025-07-17T22:00:54+00:00

The current research aims to demonstrate the impact of financial technology on Iraqi banks, with dimensions including digital financial services, cybersecurity, and financial innovation, and its effect on the performance of the banking sector, encompassing profitability, operational efficiency, financial stability, and growth. In a sector where keeping pace with technology is one of the most critical elements for its sustainability and success, the research is based on the main hypothesis that "there is a significant and statistically significant impact relationship of financial technology requirements on banking performance." The descriptive, historical, analytical, quantitative, and statistical methods were used, with the questionnaire serving as the primary data collection tool. The sample consisted of 75 individuals in positions such as authorized manager, deputy authorized manager, department director, section director, deputy section director, branch officer, and unit officer. The SPSS statistical program was employed to calculate the mean, standard deviation, coefficient of variation, F-test, R2 determination coefficient, X2 test, and T-test. These results emphasize the importance of banks adopting financial technology in all its dimensions to achieve better banking performance, with a particular focus on financial innovation as a key factor in enhancing competitiveness. The research is divided into four sections: The first section focuses on the research methodology, while the second section covers the fundamental concepts of the research. The third section is dedicated to analyzing the research results and testing its hypotheses, and the fourth section highlights the most important conclusions and recommendations derived from the research.

Financing Higher Education: Insights from Global Practices

2025-07-18T05:23:45+00:00

The financing of higher education has undergone significant transformation globally, shifting from predominantly public funding to diversified sources including private contributions and endowment funds. Countries such as the USA, UK, Canada, and Australia have established models combining public and extrabudgetary resources, influencing developing nations like Uzbekistan and Kazakhstan. Despite growing interest in financing reforms, limited comparative studies exist on the structural composition and strategic integration of endowment funds and extrabudgetary mechanisms in Central Asian contexts. This study aims to analyze international best practices in higher education financing, with a focus on endowment fund structures, budget allocation models, and the applicability of these frameworks in Uzbekistan. The research reveals that countries with strong endowment systems (e.g., Harvard, Yale, Stanford) leverage alumni donations and investment returns to cover up to 35% of their budgets. In comparison, Uzbekistan is transitioning toward financial autonomy and increased engagement with international donors, introducing dual education models and entrepreneurial finance mechanisms. The novelty of the study lies in its cross-country comparative perspective, highlighting the diversification of funding mechanisms, and proposing structured endowment strategies for Uzbekistan’s higher education sector. The findings underscore the strategic role of endowment funds in sustaining university innovation, quality, and autonomy. Policymakers in Uzbekistan and similar economies can benefit from adopting legal and institutional frameworks that facilitate endowment growth and financial independence in public universities.

Statistical And Mathematical Analysis Of Economic Efficiency Indicators

2025-07-18T08:02:12+00:00

This article examines methods for assessing the level of economic efficiency and approaches to analyzing them. The main focus is on determining the level of economic efficiency of construction industry enterprises. The article analyzes the problems encountered in identifying these levels and provides suggestions for addressing them. The system of indicators used in evaluating the economic condition of construction enterprises is examined, and practical methods for determining efficiency are substantiated. As a result, scientific and methodological recommendations are developed to serve in increasing the level of efficiency. Additionally, the possibilities of using information systems in assessing economic efficiency are explored. The research findings are of significant importance in developing strategies to enhance economic efficiency for enterprises operating in the construction industry.

Mechanisms of Using Digital Monitoring and Real-Time Observation Systems in Improving The Methodology of Assessing Green Economy

2025-07-18T22:53:08+00:00

The transition to a green economy has become a global imperative, with growing emphasis on sustainability, environmental protection, and the rational use of resources. Traditional statistical methods are increasingly inadequate for capturing real-time dynamics essential for assessing green economic growth. Uzbekistan has initiated reforms under the “Green Space” strategy, promoting ecological clusters, renewable energy, and sustainable practices. However, the country's methodology for evaluating green growth lacks integration of modern digital technologies. While many advanced economies apply IoT, AI, and GIS tools for green monitoring, Uzbekistan’s current systems remain in early developmental stages and require scientific substantiation and local adaptation. This study aims to develop a methodology for applying digital monitoring and real-time observation systems to assess green economic growth in Uzbekistan, drawing from international best practices. Analysis of pilot projects in regions such as Jizzakh, Kashkadarya, and Tashkent (2020–2024) revealed that digital monitoring increased water use efficiency by 12–18%, improved waste utilization by 25%, and enhanced environmental and economic efficiency by 1.4 times through reduced CO₂ emissions and biofertilizer production. The research proposes a comprehensive mechanism combining digital environmental monitoring, AI-based analysis, GIS visualization, and blockchain-secured data for real-time, transparent, and accurate assessment. Implementation of these systems will significantly enhance the reliability of green indicators, facilitate informed decision-making, and contribute to achieving Uzbekistan’s sustainable development goals through effective integration of public-private initiatives and digital infrastructure investment.

Analysis of The Economic Potential of Using Natural Tourist Resources in The Regions

2025-07-18T22:58:28+00:00

This article provides an in-depth analysis of the state of use of natural tourist resources in the Samarkand region and strategies for their effective development. The possibilities of developing ecotourism, health tourism and adventure tourism based on the existing ecological, geological, hydrological and landscape resources in the region are considered. Also, proposals are put forward based on strategic approaches developed on the basis of digital technologies, ecological balance and the principles of sustainable tourism. As a result of the analysis, it is necessary to create an econometric model necessary for predicting the tourist potential of the region and use the model to predict all indicators in the tourism sector of the region.

Analysis of the Factors Influencing the Development of Nostalgic Tourism in Samarkand

2025-07-19T07:03:58+00:00

This study investigates the potential of developing nostalgic tourism in Samarkand by analyzing the socio-economic, historical, and emotional factors that influence this emerging tourism segment. Based on panel regression analysis covering data from 2016 to 2024 and 39 foreign countries, the study identifies key determinants of nostalgia-driven travel flows. Factors such as trade volume (imports and exports), population ties, unemployment levels, price sensitivity, service quality, historical colonial links, religious affiliation, and internet access all show significant influence. The findings suggest that countries with stronger economic and historical ties to Samarkand are more likely to generate higher volumes of nostalgic tourists. Moreover, practical recommendations include designing specialized travel routes, integrating digital platforms such as interactive maps and AR tools, and tailoring services to the emotional and cultural needs of the diaspora. This research contributes to the academic understanding of nostalgic tourism and provides strategic insights for sustainable destination development in Samarkand.

Management Systems of Organic Vegetable Enterprises in Uzbekistan: Characteristics, Challenges, and Modern Approaches

2025-07-25T15:39:56+00:00

This article provides a comprehensive analysis of the specific characteristics and contemporary approaches to the management systems of enterprises engaged in organic vegetable production. The research explores key aspects such as management principles, risk mitigation strategies, resource use efficiency, and environmental certification requirements, all examined through environmental, economic, and social lenses. The article compares organic and conventional management models—highlighting differences in strategic planning, financial operations, marketing practices, and risk reduction mechanisms—within the context of opportunities and challenges unique to Uzbekistan. Particular attention is given to innovative solutions for managing organic enterprises, including the implementation of agro-clusters, digital marketing, international certification systems, and environmental compliance, all of which are substantiated with practical evidence.

Prospects For Improving The Public Procurement Sector

2025-07-26T09:20:49+00:00

Further development of the competitive environment by increasing the number of participants in public procurement practices and minimizing the human factor in it, along with enhancing the effectiveness of tenders and competitions and the efficiency of allocated funds, is an important factor in providing the country's population with essential goods (works, services) in a timely manner.This article provides a scientifically-grounded analysis of the prospects for improving the public procurement system. The current state of the public procurement sector, its existing problems and shortcomings are revealed with specific examples. The author has conducted a detailed study of corruption risks arising in the organization and management of procurement processes, factors reducing the effectiveness of procurement, and has also demonstrated their economic consequences. Additionally, the possibilities of increasing efficiency and transparency in the implementation of public procurement through digitalization and the introduction of electronic systems are described. The study extensively utilizes international experience, analyzing reforms in the field of public procurement in advanced foreign countries, and based on the conclusions drawn, develops practical recommendations tailored to national conditions. The authors substantiate the need to improve the legislative framework, strengthen transparency mechanisms, and increase the accountability of organizations and individuals involved in the public procurement process to enhance the effectiveness of the public procurement system. The article presents specific proposals for indicators necessary for assessing the economic efficiency of the public procurement system and their monitoring. Furthermore, it examines the possibilities of reducing costs by accelerating the digitalization of public procurement, improving the quality of management decision-making, and ensuring transparency in procurement processes. This article is intended for researchers in the fields of public administration, economics, finance, and auditing, specialists in government bodies, practitioners, and officials who formulate and implement public procurement policies. The scientific conclusions and practical recommendations presented in it will contribute to organizing a more effective and transparent public procurement system.

Alternative Scenarios for The Development of The Economic Mechanism of Women's Entrepreneurship

2025-07-26T10:08:32+00:00

This article explores the current state and development prospects of women’s entrepreneurship in Uzbekistan, with a particular focus on regional contexts. It examines the socio-economic conditions that influence the formation and growth of female-led enterprises, including access to financial resources, legal support, institutional infrastructure, and social norms. The study identifies key challenges faced by women entrepreneurs, such as limited access to credit, low levels of digital and financial literacy, and gender-based constraints. Using comparative analysis and statistical data from Andijan region, the article evaluates existing support mechanisms and proposes an integrated approach to strengthening the economic participation of women. This includes enhancing government policy, creating inclusive financial instruments, expanding business training, and fostering gender-sensitive entrepreneurship ecosystems. The findings contribute to the ongoing discourse on inclusive economic development and offer actionable strategies for empowering women entrepreneurs at the local and national levels.

The Role and Economic Significance of Architectural Solutions in The Development of Tourism Infrastructure in Uzbekistan

2025-07-30T21:14:15+00:00

This article examines the economic essence, legal foundations, and practical mechanisms of compulsory insurance in Uzbekistan, with particular emphasis on its role in social protection and financial stability. The study analyzes key indicators from the national insurance market, identifying trends in both voluntary and compulsory insurance sectors. Using legislative analysis and sectoral statistics, the research classifies existing types of compulsory insurance, including liability, property, personal, and sector-specific coverages. It also explores systemic challenges such as outdated infrastructure, limited public awareness, and legal ambiguities. Based on the findings, the paper offers policy recommendations to enhance transparency, efficiency, and the institutional framework for compulsory insurance. The research highlights the critical importance of compulsory insurance in reducing budgetary pressure, promoting insurance culture, and ensuring sustainable risk-sharing mechanisms in Uzbekistan’s evolving economy.

Ways to Improve The E-Commerce Taxation Mechanism

2025-08-03T14:19:16+00:00

The rapid growth of the digital economy has led to transformative shifts in global commerce, creating new challenges for tax systems in monitoring and regulating online transactions. In Uzbekistan, the expansion of e-commerce has prompted legislative and fiscal reforms, yet the current taxation mechanisms remain underdeveloped relative to the pace of digitalization. While several legal frameworks exist, there is a lack of a unified, transparent, and adaptive tax model tailored to the needs of e-commerce entities operating both domestically and across borders. This study aims to analyze the current legal and fiscal landscape of e-commerce taxation in Uzbekistan, evaluate international best practices, and propose a model mechanism to enhance tax administration and compliance in the digital sphere. The research reveals that Uzbekistan has introduced specific tax regimes—such as reduced tax rates and special accounts for e-commerce entities—but further improvements are required. A proposed multi-component model includes a unified electronic register, automated transaction monitoring, simplified reporting, and enhanced international cooperation. The study offers a structured taxation model rooted in the principle of "economic presence," drawing from OECD guidelines, EU VAT practices, and U.S. digital tax frameworks, while adapting them to the Uzbek context. Implementing the proposed framework would enhance tax base identification, encourage business formalization, reduce cash turnover, and increase transparency, thereby contributing to sustainable development of Uzbekistan’s digital economy.

Problems of Ensuring The Efficiency of Investment Activity in The Regions and Their Regulation

2025-08-05T14:19:37+00:00

This article explores the systemic issues hindering the effectiveness of investment activity at the regional level, the underlying causes of these problems, and the lack of optimal coordination of existing resources. The effectiveness of investment activity is fundamentally linked to the institutional formation of mutually beneficial economic relations between actors and the existence of a secure and stable investment environment. From this perspective, the article reveals the contradictions between short-term profit motivations and long-term sustainable development goals, emphasizing the critical role of government economic policy measures—such as tax incentives, subsidies, and guarantees—in aligning investor interests with broader development objectives. The article systematizes and analyzes the key factors influencing investment attractiveness, including financial, production, technological, marketing-logistics, raw material, human capital, and social dimensions. A regional diagnostic assessment based on a SWOT analysis is conducted using the example of the Namangan region, identifying its strategic advantages—such as natural resource potential, favorable geographic location, and industrial capacity—alongside limiting factors like macroeconomic instability, weak institutional structures, and social uncertainty. The article concludes that the integrated functioning of economic management mechanisms—financial incentives, fiscal regulation, and institutional reforms—constitutes the cornerstone of enhancing the competitiveness of the investment environment.

Impact of Digitization Potential of Chemical Industry Enterprises on Economic Efficiency

2025-08-06T12:23:34+00:00

The chemical industry is an important element of the world economy, which has a direct impact on the macroeconomic stability and growing industrial base. The possible opportunities in terms of efficiencies and competitiveness have raised great attention among scholars as more enterprises across industries integrate digital technologies. In this context, the chemical industry of emerging economies (Uzbekistan, etc.) faces the challenges of fully attaining the potential benefits of digital transformation. This switching has been facilitated by the “Uzkimyosanoat” JSC which has a substantial network of chemical production businesses in Uzbekistan. Though the worldwide literature proves the beneficial impact of digital technologies on the efficiency of industrial processes, there is little empirical evidence available in regard to the particular effect the technologies have on the Uzbek chemical industry. This is research paper on relationship between adoption of digital technology and performance of the economy in the chemical industry of Uzbekistan in regard to level of production and net profit. The goal is to find out key predeterminants of digitalization, as well as to assess its impact on the efficiency of a business. Using econometric models, the analysis shows that investments in digital technologies, internet coverage, and labor productivity have a great correlation with increased production volumes and the overall net profit, thus proving the importance of digital transformation as the determinant of economic growth. Therefore, the paper can add to the body of literature with its empirical findings on the topic of digitalization in the chemical industry in the Uzbekistan context where the country has been developing through the processes of economic reform. Its results provide the policymakers and the leaders of the industry in Uzbekistan with viable information that can guide in the creation of strategies that will enhance sustainable growth in digitalization and the enhancement of economic performance of the chemical industry.

Improving the Mechanism For Managing Local Budget Expenditures (on the example of Khorezm region)

2025-08-06T12:38:08+00:00

Effective public financial management is essential for regional development, especially in countries undergoing decentralization. In Uzbekistan, local budget management plays a key role in regional economic growth, with the Khorezm region facing significant challenges in expenditure management. Despite ongoing reforms, there is limited empirical research on the efficiency and transparency of local budget expenditures in Khorezm, particularly regarding the integration of performance-based budgeting and participatory mechanisms. This study aims to evaluate the current state of local budget expenditure management in Khorezm, identify inefficiencies, and propose strategic recommendations for improvement. The analysis reveals that education and healthcare sectors dominate local spending, but inefficiencies, such as delayed disbursements and lack of performance monitoring, hinder optimal resource allocation. The study introduces a comprehensive evaluation of Khorezm’s expenditure patterns and examines the effectiveness of digital tools and citizen participation in the budgeting process, contributing to the broader discourse on fiscal decentralization in Uzbekistan. The findings offer practical recommendations for improving transparency, accountability, and performance-based budgeting in Khorezm, with potential applications for other regions of Uzbekistan. Enhanced fiscal management can lead to better service delivery, greater public trust, and sustainable regional development.

The Impact of Customer Perceived Value on Behavioral Intention in Ningxia Wine Tourism

2025-08-08T06:01:00+00:00

Wine tourism is a separate type of tourism that combines elements of agriculture, culture, cuisine, and leisure activities like travelling and eating. Additionally, it has developed into an important component of the tourist business all over the world. Wine tourism is gaining popularity as a result of its ability to satisfy a variety of demands, such as sightseeing, self-improvement, health, and leisure activities. This is due to the fact that travellers are increasingly looking for high-quality travel experiences. Over the course of the 1990s, there has been a significant acceleration in the growth of research in this area, notably in Western nations, with Australia serving as an example. The research that Chinese academics are conducting on wine tourism are mostly qualitative in nature at the moment, and they do not include an in-depth analysis of the demand from tourists. A significant disparity between theoretical frameworks and practical requirements has emerged as a consequence of this research gap, which has therefore led to difficulties such as homogenous competition and a weakening of overall competitiveness in the wine tourism industry. Given this environment, examining the motivational structure of wine tourism and its impact on behavioral intentions bears great academic and practical value.

The Role of Innovative Outsourcing Services in World Experience and The Possibilities of Their Application in The National Context

2025-08-11T16:12:32+00:00

The article examines international experience in implementing innovative outsourcing, its impact on global business processes and the possibilities of application in the context of Uzbekistan. Based on the analysis of cases in the USA, EU countries, China and India, key models of interaction between clients and providers are identified. Global trends are considered, including ESG, digital transformation and co-outsourcing , and recommendations for localizing best practices are offered.

The Use of Artificial Intelligence in Logistics Management for Tourism

2025-08-13T16:13:11+00:00

This article investigates the integration of Artificial Intelligence (AI) in logistics management within the tourism industry, highlighting its potential to enhance operational efficiency, improve visitor experiences, and foster sustainable growth. The introduction discusses the growing significance of AI in tourism, driven by the sector's rapid expansion. The study examines various AI applications, including predictive analytics, route optimization, and personalization systems, which are transforming key logistical areas such as transportation, accommodation, and supply chain management. The methodology section outlines the use of case studies from Europe and Uzbekistan to demonstrate AI's impact on both economic outcomes and tourist satisfaction. Results reveal that AI technologies, such as AI-powered waste management systems and smart routing, contribute to optimizing resource use and reducing operational costs. The discussion delves into the challenges faced by the tourism sector in adopting AI, including high implementation costs, data privacy concerns, and the need for digital readiness. Additionally, it stresses the importance of a digital infrastructure to fully leverage AI’s capabilities in improving tourism logistics. The conclusion emphasizes the necessity of ongoing research and investment in digital strategies to ensure AI's continuous role in making tourism more efficient, sustainable, and resilient. By addressing both technological advancements and operational hurdles, this paper aims to contribute to the broader understanding of AI’s transformative role in the tourism logistics sector..

The Role of Multi-Modal Transport in Reducing Lead Times Across Central Asia

2025-08-14T12:11:01+00:00

This article explores the role of multimodal transport systems in improving logistics efficiency and reducing lead times in landlocked Central Asian countries. Due to its geographical position, Central Asia faces significant challenges related to transportation, making efficient logistics systems critical for economic integration and regional cooperation. The study analyzes how multimodal transport, integrating rail, road, and air transport, can be applied to reduce delivery times. A specific focus is placed on intermodal transportation, where cargo remains in the same container throughout the journey, minimizing handling time and ensuring smooth transitions between different transport modes. This system is analyzed using modern logistical methods and practical examples. Implementing multimodal transport in Central Asia can significantly improve transportation efficiency, reduce border delays, and shorten lead times. By integrating rail and road networks, goods can be delivered faster and at a lower cost. Additionally, multimodal systems enable better handling of both bulk and time-sensitive cargo. The article emphasizes how initiatives such as the New Silk Road can enhance the development of multimodal transport in the region. By improving transportation infrastructure and fostering regional cooperation, Central Asia can become a key player in global trade networks, facilitating faster and more cost-efficient trade flows. The development of multimodal transport systems in Central Asia is vital for improving logistics processes, boosting economic integration, and strengthening the region's position in the global economy.

Institutional Support Strategies for The Development of Social Tourism Entrepreneurship

2025-08-15T19:16:05+00:00

This study examines institutional support strategies for the development of social tourism entrepreneurship, focusing on the interplay of policy frameworks, financial mechanisms, and collaborative structures. Social tourism entrepreneurship offers a viable pathway to address pressing socio-economic disparities, particularly in contexts where governmental resources are insufficient. However, its growth is often constrained by limited institutional backing and policy clarity. Using a systems approach and comparative analysis of local and international practices, the research identifies key challenges, including the scarcity of targeted governmental programs, underdeveloped legal frameworks, and limited financial incentives. The study highlights the importance of integrated policy measures, legal recognition, capacity-building, and cross-sector partnerships to foster sustainable and inclusive tourism. The findings provide practical recommendations for embedding social tourism entrepreneurship into broader development agendas, thereby enhancing its role in poverty reduction, social inclusion, and community resilience.

Analysis of Cross-Sectoral Products in the Insurance Market

2025-08-16T06:45:58+00:00

Insurance markets play a crucial role in protecting against socio-economic, natural, and technological risks, while supporting economic stability. The emergence of financial convergence has led to the development of cross-sectoral insurance products, integrating elements from banking, stock market, and pension sectors, particularly in developed countries. Although such hybrid products have demonstrated effectiveness in risk diversification, customer base expansion, and innovation, limited research addresses their specific advantages, implementation challenges, and adaptation in developing markets. This study aims to analyze the theoretical and practical foundations of cross-sectoral products in the insurance market, examining their advantages, problems, and potential for wider application. The findings reveal that cross-sectoral products enhance competitiveness, profitability, and market stability by combining multiple financial services within a single offering, while also facing sensitivity to interest rate fluctuations, competing investment products, and sector-specific crises. The research highlights that their adoption in developing countries is driven by increased financial literacy and evolving consumer needs. This study provides an integrated conceptualization of the insurance market as a financial segment trading not only traditional insurance products but also hybrid offerings with mandatory insurance coverage, reflecting the sector’s functional transformation under financial convergence. The results underscore the potential of cross-sectoral products to diversify risks, stimulate demand, and strengthen the resilience of insurance companies in the face of global financial instability, offering strategic insights for market adaptation and product innovation.

Improvement the Administration of Land Tax Collected from Individuals

2025-08-16T06:58:57+00:00

Land tax plays a crucial role in financing local budgets and promoting the rational use of land resources, making its effective administration a priority in fiscal policy. In Uzbekistan, reforms such as the adoption of a new tax code and the digitization of tax services have improved transparency; however, persistent issues remain, including the absence of a unified database, unclear legal statuses, inefficient collection mechanisms, and low tax culture. While previous studies by economists like Stiglitz, Dye, England, Fischel, Oates, and Jaeger have examined the economic significance of land taxation, there is insufficient localized analysis addressing the systemic and administrative problems specific to Uzbekistan’s land tax system for individuals. This study aims to analyze the current state of land tax administration for individuals in Uzbekistan, identify existing shortcomings, and propose evidence-based solutions informed by international best practices. Analysis of statistical data from 2020 to 2024 indicates steady growth in total tax revenues and significant increases in land tax collected from individuals, reflecting improved engagement and administrative measures; however, systemic inefficiencies continue to limit optimal performance. The study integrates empirical fiscal data with qualitative assessment and comparative policy analysis to produce targeted recommendations for enhancing tax administration efficiency, transparency, and fairness in the Uzbek context. Implementing the proposed reforms such as establishing a unified cadastral database, optimizing tax rates, and strengthening digitalized control can expand local budget revenues, improve taxpayer compliance, and encourage the sustainable and rational use of land resources.

Modern Trends in Specialization of Regional Industrial Production in Foreign Operations

2025-08-19T12:21:52+00:00

The article analyzes the modern trends of regional industrial production specialization in the experience of foreign countries. Development processes through "smart specialization" strategy in the European Union, cluster models in the USA, high-tech directions based on state policy in South Korea and Japan, free economic zones and industrial clusters in China are covered. Also, trends in industrial specialization in India, Africa and Latin American countries are comparatively studied. As a result of the analysis of international experience, it is based on the fact that factors such as innovation, clustering, public-private cooperation and integration into global value chains are of decisive importance for effective implementation of regional industrial policy.

Innovations as An Important Factor in Increasing The Investment Potential of Tourism

2025-08-23T09:02:52+00:00

The article provides a comprehensive analysis of the strategic role of innovations in increasing the investment potential of the tourism sector and the use of modern solutions such as digital technologies, artificial intelligence, VR/AR, automated services. Practical directions for improving the quality of service through advanced technologies, reducing investment risks, creating new services, and creating an attractive environment for investors are considered. Also, national opportunities are analyzed using the example of innovative development trends and promising projects in tourism in Uzbekistan. The article is enriched with scientific and theoretical views, as well as real examples and graphic information.tourism

Theoretical Basis and Socio-Economic Significance of Barrier-Free Tourism Development

2025-08-23T16:49:44+00:00

In the article, the author discusses the theoretical and methodological foundations of the concept of barrier-free tourism and its socio-economic significance. The article analyzes international and national experiences in this area, substantiates the need to adapt infrastructure facilities based on the principles of universal design, introduce digital technologies, increase human resources and improve the legal and regulatory framework. Also, the theoretical foundations of barrier-free tourism, the views of scientists, its features, negative and positive aspects, and the problems existing in the system are studied, and the category of “barrier-free tourism” is improved.

Tax Incentives and Their Impact on The Quality of Foreign Investments

2025-08-25T22:51:18+00:00

Foreign direct investment (FDI) plays a crucial role in sustainable economic growth by providing financial resources, technology transfer, and job creation. For transition economies such as Uzbekistan, enhancing the quality of foreign investment is vital to achieve long-term competitiveness. In recent years, Uzbekistan has implemented tax reforms, including exemptions and VAT relief, to attract FDI. Comparative experiences of Ireland and Singapore show that targeted tax incentives combined with institutional stability significantly raise high-tech and innovative investment inflows. While the relationship between tax incentives and FDI volume is widely studied, less is known about their effect on investment quality, including technological orientation, sectoral diversification, and employment outcomes in transition economies. This study aims to analyze the impact of tax incentives on the quality of FDI in Uzbekistan and compare its outcomes with successful international cases. The findings reveal that tax incentives reduce business costs and increase FDI inflows, which in turn stimulate long-term investments, innovation, sectoral diversification, and job creation. Uzbekistan’s FDI inflows nearly doubled between 2016 and 2023, with the share of industrial investment rising from 35% to 52% and job creation increasing by 80,000. However, compared to Ireland and Singapore, Uzbekistan still attracts a smaller share of high-tech investment. This study demonstrates that in Uzbekistan, gradual selective liberalization and sector-specific incentives are more effective for improving investment quality than broad exemptions. Policymakers should shift the focus from quantitative FDI growth to qualitative indicators, prioritizing innovation, R&D, and long-term sectoral development to ensure sustainable economic growth.

Development Trends in Deposit Operations of Commercial Banks in Uzbekistan: Analysis for 2017–2025

2025-08-26T11:42:20+00:00

This article analyzes the development trends of deposit operations in commercial banks of Uzbekistan from 2017 to 2025. Statistical data on deposit volumes, structure, interest rates, and the diversity of deposit products are examined. The research explores factors contributing to the increasing trust of individuals and legal entities in the banking system, as well as their growing financial literacy. The impact of Uzbekistan's legislation and the policies of the Central Bank on the expansion of the deposit base is assessed. The study indicates that the volume of total deposits in commercial banks has increased significantly, with notable growth stages observed between 2017 and 2025. The paper highlights the importance of diverse deposit products offered by banks, including demand, term, and savings deposits, with specific attention to their interest rates and market trends. It is found that while legal entities hold a larger share of deposits, the participation of individuals has also increased, reflecting greater financial literacy and trust in the banking sector. The analysis suggests that the Central Bank's interest rate policy has played a crucial role in encouraging deposits in national currency while maintaining low interest rates on foreign currency deposits. Based on the findings, the article proposes recommendations for improving deposit policies, including further diversification of deposit products and enhancing customer financial education.

Improvement the Administration of Land Tax Collected from Individuals

2025-08-26T12:33:18+00:00

Treasury digitalization has emerged as a key driver of modernization in public financial management, enabling automation, transparency, and efficiency. Despite its benefits, the process faces significant obstacles such as cyber threats, legal barriers, social consequences, and financial costs, which require careful consideration. Existing literature has extensively discussed the technological potential of digital platforms but has not sufficiently addressed the comprehensive risks and socio-economic implications that accompany treasury digitalization. This study seeks to systematize and analyze the main advantages and threats of treasury digitalization, focusing on balancing innovation with security while assessing the long-term sustainability of financial systems. Findings highlight that digital platforms, artificial intelligence, and blockchain enhance efficiency, accuracy, and financial transparency while simultaneously exposing systems to cybersecurity vulnerabilities, labor market disruptions, regulatory gaps, and high implementation costs. Case studies from the UK, Canada, and Estonia illustrate the effectiveness of digitalization in improving monitoring and reducing corruption, while also underscoring challenges of integration and trust. The study offers a synthesized framework that connects technological, legal, economic, and organizational dimensions of treasury digitalization, emphasizing the interplay between efficiency gains and emerging risks. Successful digitalization requires a holistic strategy that ensures robust cybersecurity, adaptive legal frameworks, workforce retraining, and sustainable financing. Balancing these factors is essential for securing public trust and achieving long-term stability in financial governance.

Key Directions for Diversifying Services in Communication Enterprises and Enhancing Their Economic Efficiency

2025-08-26T22:35:32+00:00

In the context of rapid technological advancements and increasing market competition, communication enterprises are compelled to diversify their services to meet growing consumer demands and ensure sustainable development. This paper explores the main directions for service diversification in the telecommunications sector, such as the integration of digital platforms, cloud services, and value-added solutions. It also analyzes the economic benefits of diversification, including revenue growth, improved resource utilization, and increased customer retention. The study emphasizes the importance of innovation, strategic planning, and investment in modern infrastructure to boost overall economic efficiency.

The Role of Smart Tourism in Enhancing Tourist Satisfaction in Uzbekistan

2025-08-27T23:06:37+00:00

The rapid growth of digital technologies such as IoT, AI, and mobile applications has transformed global tourism, with smart tourism emerging as a driver of service quality, competitiveness, and visitor satisfaction. In Uzbekistan, a strategically significant cultural destination in Central Asia, the adoption of smart tourism initiatives—including QR-coded heritage sites, e-visa systems, and digital guide applications—has begun, but integration remains fragmented and public awareness limited. Despite global advances, empirical research linking smart tourism, infrastructure, destinations, risk perception, adoption, and satisfaction in Uzbekistan is scarce, leaving uncertainty about how these factors interact in emerging markets. This study develops and tests an integrated framework examining the relationships between smart tourism, smart infrastructure, smart destinations, tourist travel risk perception, e-tourism adoption and experience, and tourist satisfaction. Based on survey data from 303 respondents, regression analyses confirm that smart tourism reduces perceived travel risk and significantly enhances smart destinations and infrastructure. Both smart destinations and infrastructure positively affect e-tourism adoption and experience, which in turn strongly predicts tourist satisfaction, explaining 58% of its variance. This research is among the first in Central Asia to empirically validate a multi-construct framework, demonstrating that adoption is the final pathway through which smart initiatives generate satisfaction and competitiveness. The findings provide theoretical contributions to smart tourism studies in emerging economies and practical recommendations for policymakers, emphasizing the need for investment in infrastructure, integrated digital services, and real-time information to strengthen Uzbekistan’s global tourism competitiveness.

Pension Provision for Uzbek Migrants in the Context of Pension System Reform: International Experience and National Policy Perspectives

2025-08-31T22:39:26+00:00

Labor migration is a major socio-economic phenomenon in Uzbekistan, with millions of Uzbek citizens working abroad, especially in Russia, Kazakhstan, South Korea, and Turkey. While remittances contribute significantly to the national economy, one critical issue remains underexplored: the pension security of Uzbek labor migrants. This article investigates the legal frameworks, institutional barriers, and socio-economic implications of pension provision for Uzbek migrants. It draws on international conventions, bilateral agreements, and domestic policy developments to assess how pension rights are recognized, transferred, or forfeited in the context of labor migration. The paper argues for a more coordinated approach between sending and receiving countries to ensure long-term social protection for migrant workers.

Enhancing The Institutional Framework Of Relations Between The Republic Of Uzbekistan And International Financial Institutions

2025-08-31T22:38:49+00:00

This study examines the institutional foundations of Uzbekistan’s cooperation with international financial institutions (IFIs), with particular attention to the legal, financial, and organizational mechanisms that regulate such relations. By analyzing international best practices, national policy reforms, and theoretical approaches, the research identifies the challenges of current cooperation frameworks and proposes measures to strengthen institutional capacity. The findings highlight the necessity of developing modern monitoring mechanisms for financial resources, adopting comprehensive regulatory frameworks, and enhancing transparency in financial operations with IFIs. The study contributes to the academic discourse on institutional development and provides policy recommendations for Uzbekistan in its interaction with global and regional financial institutions.

Current State and Development Trends of Financing State Target Programs through Commercial Banks in Uzbekistan.

2025-09-01T01:27:49+00:00

State target programs are globally recognized as key instruments for poverty reduction, welfare improvement, and sustainable socio-economic development. In Uzbekistan, these programs have gained prominence in recent years, with initiatives such as “Every Family is an Entrepreneur” aimed at promoting family business and reducing unemployment through concessional lending provided by commercial banks. Despite tangible results, challenges remain in financing efficiency, transparency, and sustainability, necessitating deeper analysis of organizational and financial mechanisms. This study investigates the role of state target programs in socio-economic development and evaluates the dynamics of their financing through commercial banks between 2018 and 2024. Findings reveal that concessional loan allocations fluctuated, peaking at 16 trillion UZS in 2018–2020 but declining to 6 trillion UZS by 2024. Simultaneously, the share of small businesses in GDP dropped from 61.7% in 2018 to 47.5% in 2024, with regional disparities ranging from Jizzakh’s 86.3% to Navoi’s 42.3% at the outset. By integrating comparative international experiences with Uzbekistan’s structural reforms, the study highlights both the positive outcomes in employment and entrepreneurship and the systemic decline in small business contributions to GDP. The results underscore the importance of enhancing transparency, improving oversight, and aligning concessional financing with market realities to ensure long-term sustainability of state target programs.

Features of the Functioning and Modeling of the Economic System in the Context of Modern Transformation

2025-09-03T14:41:52+00:00

In the era of global transformation, economic systems are experiencing rapid and profound changes driven by digitalization, technological progress, globalization, and sustainability imperatives. These shifts require a reassessment of how economic systems function and how they can be effectively modeled. This study explores the key features of the functioning of modern economic systems, emphasizing the influence of digital technologies, institutional transformation, and environmental considerations. Special attention is given to methodological approaches to economic system modeling, including system dynamics, agent-based models, and hybrid frameworks. The findings demonstrate that traditional linear models are insufficient to capture the complexity of modern economies. Instead, adaptive and multidimensional models provide more accurate insights for forecasting and policymaking. The article concludes that incorporating sustainability indicators and digital innovations into modeling practices is essential for ensuring resilience, adaptability, and long-term development of economic systems.

The Role of LQ Analysis in Shaping Regional Marketing Strategies: A Case Study of Bukhara Region, Uzbekistan

2025-09-05T06:54:33+00:00

This article explores the economic specialization of districts in the Bukhara region of Uzbekistan through the application of Location Quotient (LQ) analysis. Using official statistical data 2024, the study calculates LQ indicators for five key sectors: industry, agriculture, services, investment, and employment. The results reveal significant spatial and sectoral disparities across the region, with Bukhara City and G‘ijduvon emerging as core economic hubs, while districts like Kogon City and Olot show signs of underdevelopment. Based on the LQ findings, the paper proposes a framework for developing district-specific regional marketing strategies, emphasizing the importance of economic identity in place branding. The study also discusses limitations related to the static nature of LQ and proposes directions for future research, including integration with SWOT and shift-share analysis. This work contributes to the growing field of evidence-based territorial planning and offers practical tools for policy-makers aiming to enhance regional competitiveness and cohesion.

Enhancing the Efficiency of Digital Services in Uzbekistan’s Telecommunications Sector: Analysis of Modern Technologies and Strategies Based on ‘Uzbektelecom’ JSC

2025-09-05T16:08:34+00:00

This article investigates digital transformation processes in Uzbekistan's telecommunications sector, focusing on the activities of ‘Uzbektelecom’ JSC. It examines modern technologies including 5G, Big Data, cloud computing, and CRM systems and their impact on service efficiency improvement. A method for assessing regional disparities in digitalization using a ‘Digital Asymmetry Matrix’ along with an econometric forecasting model is presented. The results highlight the need for comprehensive adoption of innovations to strengthen the country’s digital economy.

The Necessity of Logistics Mechanisms in Enhancing Agricultural Productivity and Their International Practices

2025-09-05T16:38:35+00:00

This article examines the role of the logistics system in enhancing agricultural efficiency and analyzes successful practices from international experience. Using the comparative analysis method, advanced logistics approaches in countries such as the Netherlands, the United States, Japan, and India have been studied, with their applicable aspects to the context of Uzbekistan highlighted. The findings indicate that the development of logistics infrastructure plays a crucial role in reducing product losses, increasing export potential, and ensuring food security. The author proposes practical recommendations for Uzbekistan, making the article a valuable scientific basis for improving the efficiency of agricultural production.

Econometric Modeling and Forecasting of Development Indicators of Tourism Enterprises in Uzbekistan

2025-09-05T16:58:40+00:00

This study aims to develop a comprehensive multivariate econometric model for analyzing and forecasting tourism revenue in Uzbekistan. Given the sector’s growing role in the national economy, an evidence-based understanding of key drivers such as tourism value-added, inbound tourist arrivals, investment volume, and the number of tourism-related enterprises is essential. Annual data from 2014 to 2024 were used to construct a log-linear regression model in EViews 12. The model addresses scale heterogeneity among explanatory variables and ensures statistical robustness. The selected predictors include tourism gross value added, number of inbound tourists, investment volume, and active tourism enterprises. The model demonstrates strong explanatory power with an R² of 0.9554 and a Durbin-Watson statistic close to 2, indicating minimal autocorrelation. Forecasts for 2025–2029 suggest steady tourism revenue growth, driven by synchronized increases in investment and entrepreneurial activity within the sector. The findings provide a reliable basis for medium-term tourism policy design and resource allocation. The proposed modeling framework also offers a replicable approach for other emerging economies aiming to strengthen tourism-led economic development and enrich empirical literature on tourism economics.

Priority Directions for Improving the Quality of Human Capital in the Republic of Uzbekistan

2025-09-07T08:32:48+00:00

The article discusses priority areas for improving the quality of human capital in the Republic of Uzbekistan in the context of the formation of an innovative economy. The dynamics of the human capital index (HDI) and the human capital index (HCI) are analyzed, key factors influencing the growth of the quality of human capital are identified. Particular attention is paid to the development of higher education, the integration of science and industry, the digital transformation of educational programs and the creation of a single digital platform for monitoring human capital. The paper proposes alternative scenarios and forecasts for Uzbekistan until 2030 in the basic, pessimistic and optimistic versions. A conclusion is made about the need for accelerated improvement of the quality of human capital to strengthen the country's competitiveness and reach the level of international standards.

An Economic Model for Improving the Competitiveness of the Textile Industry in the Republic of Uzbekistan

2025-09-07T09:32:12+00:00

The textile industry is a strategic sector for Uzbekistan, contributing to exports, industrial diversification, and employment. However, increasing global competition, rapid technological shifts, and stricter sustainability standards demand new approaches to ensure competitiveness. Although Uzbekistan has transitioned from raw cotton exports to greater domestic processing and established textile clusters, the sector remains concentrated in low- and medium-value products, with limited branding, weak adoption of Industry 4.0 technologies, and underdeveloped sustainability practices. While existing studies analyze reforms, export growth, or investment attraction, few propose an integrated economic model that addresses structural weaknesses while leveraging opportunities such as value chain integration, human capital, and green modernization. This research aims to develop a comprehensive economic model to enhance the competitiveness of Uzbekistan’s textile industry, drawing on international best practices and local conditions. Findings show that despite progress, the sector still faces infrastructure bottlenecks, inadequate logistics, shortage of skilled specialists, and limited access to high-value markets. Clusters improve coordination but remain constrained by financing and SME participation. Digitalization and eco-certification adoption are lagging, reducing global market access. The study proposes a multidimensional model that combines technological modernization, cluster-based development, sustainability, human capital enhancement, and export diversification, tailored to Uzbekistan’s transitional economy. Effective implementation of this model will enable Uzbekistan to move up the global textile value chain, strengthen its competitiveness, attract foreign investment, and achieve broader socio-economic objectives including sustainable development, job creation, and global economic integration.

Ways to Develop Retail Services of Commercial Banks

2025-09-09T10:43:47+00:00

Uzbekistan has gone through major reforms in the banking sector which are mainly related to the increase of financial services and the increase of transparency and trust in commercial banks. The retail banking sector continues to face numerous challenges, including overcentralization of decision-making, overly complicated loan procedures, insufficiently developed retail services, low availability of microloans, poorly developed ATM networks, and limitations on foreign currency transactions, despite these reforms. Although cross-country examples illustrate with compelling evidence why innovations in retail services remain advantageous, little research has examined their local applicability to suit Uzbekistan’s unique socioeconomic, institutional, regulatory settings. The aim of this paper is to provide an assessment of the state of retail banking services provided by commercial banks of Uzbekistan; reveal systemic problems, and opportunities for development by means of digital transformation and customer orientation. The research indicates an increase in banking service centers, non-bank credit institutions broaden, and greater adoption of digital forms of banking including mobile banking and online services. Still, profitability measures are unstable, as deeper current returns on assets and equity have contracted–regardless of improving net interest edge. By utilizing such theoretical perspectives on retail banking alongside empirical evidence derived from Uzbekistan's financial environment this study appraises customer requirements in conjunction with institutional performance comprehensively. Results indicate that potential sustainable development of retail banking services to the customers directly is focusing on strengthening and protecting customers, reducing bureaucratic barriers, increasing financial inclusion, in the course of adapting and implementing the international best practices to local environment, all of which may lead to intensified competition and better citizens' confidence in the banking system.

Opportunities for Using Cluster Models and Innovative Approaches in Managing Investment Activity in the Field of Tourism Services (The Case of Khorezm Region)

2025-09-10T16:09:41+00:00

This article provides a scientific analysis of the institutional and innovative mechanisms for managing investment activity in the field of tourism services, using the Khorezm region as a case study. The field of tourism services plays a key role not only in creating new jobs and increasing foreign currency revenues, but also in the development of regional infrastructure, services, cultural heritage, and entrepreneurial activity. The article provides a comprehensive overview of the role of the cluster approach, public-private partnership (PPP), digital transformation, and “green” tourism projects in investment management.The study also highlights the significance of digitalization processes—such as electronic visas, tourist mobile applications, QR-coded information, and virtual tourism—and emphasizes the important role of "smart infrastructure" and "smart tourism" models in improving the investment climate. The article pays special attention to ensuring social inclusiveness through the engagement of local communities in economic processes, as well as through the development of handicrafts, agrotourism, pilgrimage tourism, and family-run guesthouses. In conclusion, the article advocates for a transition to integrated investment management models that combine innovative and sustainable approaches. The research findings serve as a foundation for shaping effective policies aimed at developing regional tourism potential and contributing to the stability of the national economy.

Analysis and Assessment of The Digitalization Processes in The Food Supply System in Tashkent Region

2025-09-12T12:10:15+00:00

The issue of optimizing the food supply system in Tashkent Region through the use of modern digital technologies has been studied. Within the framework of the research, the activities of food-producing and distributing enterprises operating in the region were analyzed. The level of digitalization in their logistics chains, the state of existing infrastructure, and problems in managing logistics operations were identified and evaluated, along with possible solutions. During the study, the role, practical advantages, and economic efficiency of modern digital solutions such as smart logistics, the Internet of Things (IoT), GPS tracking, and warehouse management systems in the delivery process were thoroughly examined. Based on the results obtained, scientifically grounded proposals and recommendations were developed for implementing digitalization in the food delivery system of Tashkent Region. The outcomes of this research are of significant practical importance not only for improving the efficiency of logistics operations but also for ensuring food security and developing a comprehensive digital transformation strategy within the sector.

Service Quality in the Tourism Industry

2025-09-13T12:23:26+00:00

Tourism is an economic and social significant and one of the fastest-growing sectors, but everywhere the service quality is the barrier to the competitiveness, especially in developing contexts like Uzbekistan. Although the international literature focus on tools such as SERVQUAL, certifying systems in France, VR / AR applications in the USA, and Kazumi Shimizu’s concept of “Omotenashi” cultural tours in Japan; the tourism sector of Uzbekistan has not yet fully adapted to these approaches. A number of current articles being published in Uzbekistan provide merely general assessments about tourism expansion, but do not put forward what might be termed a multidimensional approach to service quality that relates international best practice, sustainability, and technological innovation. It was the aim of this study to critically analyse the theoretical and methodological basis of service quality in the tourism industry, review global practices, and make conclusions and recommendations for further development of tourism in Uzbekistan. Results indicate that quality services make tourists 25% more likely to stay and international cases show the certification, technological innovation and service culture directly strengthens competitiveness and sustainability. Such integrative practices can develop Uzbekistan tourism infrastructure and strengthen its global positioning. It offers a consistent construct of tourism service quality that integrates ecological, financial, and social sustainability along with technological modernization, which is an advance from customer expectation gaps. Thus, the conducted research suggests Uzbekistan tourism sector to focus on the above areas of certification practices to be in line with the international standards and sustainability development goals. Future work needs to explore more on customer perception and test the practicality of launching VR/AR and certification programs in the local settings.

The Role of International Organizations in Improving The Vat Mechanism in The Republic of Uzbekistan

2025-09-20T20:56:28+00:00

The article examines the role of international organizations - the International Monetary Fund (IMF), the World Bank (WB), the Organisation for Economic Co-operation and Development (OECD), and the World Trade Organization (WTO) - in improving the value-added tax (VAT) mechanism in the Republic of Uzbekistan. It demonstrates that the recommendations and projects of these institutions have significantly influenced the modernization of the tax system, including the digitalization of administration, improvement of VAT refund procedures, expansion of the tax base, and implementation of risk-based control. Based on an analysis of the chronology of Uzbekistan's interaction with international organizations, key trends and challenges have been identified, and priority areas for further reforms have been determined.

Ways and Prospects for Improving the Formation of the Deposit Base of Commercial Banks

2025-09-24T11:55:51+00:00

This study examines the formation and improvement of the deposit base of commercial banks in Uzbekistan under current economic transformation. The aim is to analyze the theoretical foundations of deposit base formation, identify existing challenges, and evaluate international experiences for their applicability in Uzbekistan. The research applies analytical, comparative, and empirical methods to assess the current state of deposit mobilization, relying on statistical data from the Central Bank, international reports, and advanced banking practices from the USA, Germany, and South Korea. The findings reveal that despite notable growth in deposit volumes, Uzbekistan’s banking sector still faces challenges such as the dominance of short-term deposits, limited financial literacy, and insufficiently developed deposit insurance mechanisms. International experience highlights that well-structured deposit insurance, diversified deposit products, and the use of digital banking tools can significantly increase depositor confidence and resource stability.

Efficient Use Of The Company's Workforce As A Key Factor In Ensuring Economic Sustainability

2025-09-26T12:27:48+00:00

Modernization and increasing collaboration within the global economic sphere necessitate the assurance of economic stability in enterprises, as it is a critical factor in achieving sustainable development and maintaining competitive positions in the global market. The economic stability of enterprises depends largely on the effective utilization of resources directly or indirectly involved in production processes, which are considered primary organizational factors. Among these, human capital plays a central and indispensable role. The expansion of production capacities and the long-term economic sustainability of a company are intrinsically linked to the quality, adaptability, and efficiency of its workforce. In the context of globalization and rapid technological advancement, employees are no longer merely task executors but have become key contributors to innovation, strategic flexibility, and competitive positioning. Manufacturing processes, in particular, largely depend on human labor. Each task performed ultimately represents human effort, and the efficiency of this effort is directly reflected in the company’s economic performance indicators. This article examines the critical relationship between workforce management and economic sustainability, addressing key aspects of personnel policy such as the development of a healthy and capable team, the demographic composition and qualifications of personnel, and their strategic deployment within production processes. It underscores the importance of timely adaptation to evolving production demands and working conditions, the integration of scientific and technological advancements, and the adoption of innovative production techniques. Furthermore, the article presents a case study analyzing the current state of workforce utilization within a specific economic entity. This analysis culminates in actionable recommendations aimed at optimizing employee contributions, with particular emphasis on leveraging both intellectual and physical potential to enhance enterprise performance and sustainability.

The Mediating Effect of Business Model Innovation on Business Partnerships in Enhancing SMEs Marketing Performance

2025-09-27T00:48:14+00:00

The objective of the present investigation is to investigate how business model innovation mediates the relationship between marketing performance and business partnerships. SMEs in the food and beverage industry made up the population of this quantitative survey. 180 responders in all were examined. The Structural Equation Modeling with Partial Least Squares (SEM-PLS) methodology was employed to scrutinize the data. Business model innovation and marketing performance are positively and significantly impacted by business relationships, according to the research findings. Though it serves as a mediating factor in the relationship between business partnerships and marketing performance, business model innovation does not directly affect marketing performance.

Dynamics of the Loan-to-Deposit Ratio and Efficiency Analysis of Commercial Banks in Uzbekistan

2025-09-27T09:48:13+00:00

We use loan-deposit ratios (LDR), which is one of the most commonly used metrics for measuring liquidity and efficiency in banking, and essentially indicates the extent to which a bank is able to convert deposits into loans. Recent changes in the banking system of Uzbekistan, caused by changes in state banks and the entry of foreign banks have changed LDR (especially during pandemic years (2020–2023)). Though LDR is significant in the demand of liquidity and financial stability, however, there is a lack of empirical researches about trends of LDR, differences of LDR by ownership and systemic implications of bank LDR in the banking sector of Uzbekistan. This study investigates the determinants of LDR of commercial banks of Uzbekistan, explores ownership-specific differences, and applies statistical and clustering techniques to reveal commonalities beyond institutional types. The mean LDR was 174% suggesting that the banks depended on state and non-domestics resources instead of deposits, state-controlled banks have a greater LDR (higher than 258%) as opposed to with private banks (at about 130%), according to the descriptive statistic. ANOVA confirms statistically significant differences in LDR by ownership forms, except between private banks and foreign banks. Cluster analyses revealed three clusters: foreign banks grouped together and achieved mostly very high ratios; state banks were grouped together with medium spans; and private banks were grouped together with low spans. The originality of this study is to be the first basis systematic, multi-method study of LDR in Uzbekistan, describing, inferring and clustering LDR, revealing ownership based and structural differences. The results show how much state banks rely on outside resources, that private banks are stable, and that foreign ones are subject to fluctuations, providing policymakers with data-driven evidence that they can turn to when drafting rules for liquidity regulation, and banking reforms.

State Policy and Reforms in Ensuring Employment of The Population

2025-09-29T04:02:51+00:00

Employment is one of the most important indicators of people’s well-being and social stability. This article examines how state policies and reforms in Uzbekistan are directed toward creating new jobs, supporting vulnerable groups, and reducing unemployment. It also emphasizes the role of modern approaches such as digital platforms, professional training, and small business development in ensuring wider access to the labor market. By comparing international experiences and local practices, the study shows that effective employment policies can not only provide income but also improve the quality of life and strengthen trust between society and the state.

Analysis of Export Indicators and Development Trends of Textile Industry Enterprises of the Republic of Uzbekistan

2025-10-03T16:32:15+00:00

This article provides an in-depth analysis of the export activities of textile industry enterprises of the Republic of Uzbekistan, highlighting the current state and development trends of the industry. During the study, the main directions of the country's textile exports, the geography of foreign markets, the annual dynamics of export volumes and its shaping factors were studied. Also, special attention is paid to the mechanisms for supporting the sector, stimulating the activities of exporting enterprises and increasing their competitiveness in international markets based on the resolutions and decrees of the President of Uzbekistan. Based on the analysis, scientific and practical recommendations have been developed to expand the export potential of the textile industry, increase the production of finished products with high added value, and improve the logistics system. The results of the article are of practical importance for textile industry enterprises, entities engaged in export activities, and organizations developing economic policy.

The Role of the Marketing System in Enhancing the Competitiveness of Local Enterprises

2025-10-03T16:39:30+00:00

In the context of globalization and increasing competition, the competitiveness of local enterprises has become one of the key determinants of sustainable economic growth. This study examines the role of the marketing system in strengthening the market position of local businesses, with a particular focus on its strategic functions and modern applications. Marketing is no longer limited to promoting goods and services; rather, it serves as a comprehensive mechanism that identifies consumer needs, shapes demand, builds brand loyalty, and ensures long-term business sustainability. The research applies analytical and comparative methods to highlight the importance of digital marketing, brand management, and customer relationship management (CRM) in achieving competitive advantage. Statistical data from national sources, as well as theoretical insights from global marketing literature, were utilized to illustrate the relevance of these tools for local enterprises. Findings indicate that companies implementing a well-structured marketing system can increase their market share, improve consumer satisfaction, and expand their access to both domestic and international markets. Furthermore, the study reveals that the integration of innovative marketing strategies significantly contributes to product diversification, customer retention, and the creation of a strong brand image. However, challenges such as insufficient investment in marketing activities and the lack of qualified professionals still remain. The paper concludes that enhancing the marketing system is essential for local enterprises to survive and thrive in today’s highly competitive environment.

Linking Sustainability to Profitability: ESG Scores and Financial Performance of Banks in Uzbekistan

2025-10-05T14:36:35+00:00

This study investigates the relationship between Environmental, Social, and Governance (ESG) performance and financial outcomes among commercial banks in Uzbekistan, a rapidly transforming emerging market economy. Using a novel dataset covering 118 bank-year observations from 2018 to 2023, we construct pillar-level ESG scores (E, S, G) and a composite ESG index based on 22 measurable indicators aligned with the Global Reporting Initiative (GRI) Financial Services Supplement and the UN Principles for Responsible Banking (UNPRB). Indicators are normalized using the min–max method and aggregated with equal weighting, reflecting transparency and comparability in a data-constrained context. Financial performance is assessed using accounting-based measures—Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM)—alongside efficiency (Cost-to-Income Ratio, CIR) and risk (Non-Performing Loan Ratio, NPL). Control variables include bank size, capital adequacy ratio, liquidity, and ownership type.

The analysis begins with Pearson correlation tests, which reveal three important insights. First, the three ESG pillars demonstrate strong internal consistency, indicating that Uzbek banks tend to adopt ESG practices in an integrated manner rather than selectively. Second, ESG scores exhibit significant positive correlations with profitability measures (ROA and ROE), with governance emerging as the most influential driver. Third, ESG scores are negatively correlated with CIR and NPL, suggesting that stronger ESG practices are associated with greater operational efficiency and lower credit risk. While Net Interest Margin shows a weaker positive association, the overall pattern aligns with global evidence that ESG contributes to both financial resilience and sustainable growth.

Panel regression analysis, supported by the Hausman specification test, further validates these findings. Fixed-effects models controlling for bank-specific heterogeneity and macroeconomic shocks show that ESG scores exert a statistically significant and economically meaningful impact on financial performance. Specifically, higher ESG scores increase ROA and ROE, modestly enhance NIM, and substantially reduce CIR and NPL. Governance once again stands out as the most consistent predictor of improved outcomes, reflecting the importance of board independence, disclosure practices, and risk oversight in the Uzbek banking context.

The results carry important policy and practical implications. For regulators, the findings highlight the need to institutionalize ESG disclosure, integrate sustainability considerations into credit risk assessments, and design incentives that encourage adoption across all banks. For practitioners, ESG should be reframed not as a compliance burden but as a strategic driver of profitability, efficiency, and long-term competitiveness. For researchers, this study opens avenues for further work on the causal mechanisms linking ESG to financial performance, cross-country comparisons in Central Asia, and long-term evaluations of ESG’s impact. By demonstrating that ESG integration yields tangible financial benefits in an emerging market, this study contributes to the global discourse on sustainable finance. It provides empirical evidence that linking sustainability to profitability is not only feasible but also desirable for banks in Uzbekistan, offering a roadmap for aligning financial sector transformation with national development objectives.

Conceptual Improvement of Financial Control of Budget Expenditures in Uzbekistan

2025-10-05T14:52:24+00:00

This article discusses in detail the possibilities of applying the three-line defense model and internal control frameworks in strengthening institutional and functional mechanisms of financial oversight of budget expenditures. Special attention is given to the role of these models in ensuring transparency, accountability, and efficiency within the budgetary system. The study emphasizes that the proper allocation of authority and responsibility centers is crucial in establishing effective preliminary and ongoing financial oversight both at the horizontal and vertical levels of public administration. In this context, preliminary control serves as an early warning tool to prevent misallocation of resources, while ongoing control ensures continuous monitoring and evaluation of financial flows during the budget execution process. Moreover, the article highlights that the main tasks in improving oversight include building a clear system of responsibilities, avoiding duplication of control functions, and ensuring that all three lines of defense—management, internal control units, and independent audit—work in harmony.