The article analyzes the methodological significance of fiscal governance instruments in reducing and legalizing the shadow economy. Tax policy optimization, the wide implementation of fiscal digitalization, and ensuring transparency in budgetary processes are assessed as the main directions for formalizing informal activities. Based on the analysis of international experience, scientific and practical recommendations tailored to the conditions of Uzbekistan are developed.

Countries are increasingly proposing investment attraction systems that aim to improve economic efficiency and achieve higher “green competitiveness” outcomes by better aligning environmental standards and growth policies under sustainability-oriented governance mechanisms. The need to develop and implement balanced investment strategies, drawing on international best practices to determine which environmental and economic indicators are appropriate and how to integrate them into national planning systems and sectoral development programs, is forcing emerging economies to rethink their policy instruments, regulatory mechanisms, and institutional capacities. This study aims to make this contribution, in addition to providing an analytical framework that reviews empirical papers that shed light on the interactions between investment attraction, environmental compliance, and policy coordination with dynamics such as sustainable fiscal policy, industrial modernization, regional development, or green transformation. Following a methodological synthesis, a comparative assessment of foreign investment development is prepared, in which environmental integration is linked to these key terms, economic diversification and institutional adaptation. This framework can serve as a benchmarking model and policy guidance for regulators, investors, analysts and decision-makers. This study has two main contributions. First, it is the first time that such a multi-criteria assessment table is being developed to demonstrate the interrelationship between economic and environmental aspects. Second, it captures the idea of compatibility between environmental protection and economic development, policy implementation and societal needs, national priorities and global standards, i.e. it requires flexible governance. This article provides Uzbek policymakers with important information and insights on how to take environmental commitments into account when attracting sustainable investment. The future research agenda provides broad opportunities for comparative analyses and applied studies on investment efficiency, sustainable growth, institutional capacity, and green transformation.

This article analyzes the current state of corporate financing mechanisms in Uzbekistan, identifies key challenges in the existing system, and proposes possible solutions. Based on international experience, effective financing strategies adapted to the national context are developed. The study suggests building a sustainable financing system through capital diversification, enhancing investor confidence, and improving corporate governance practices.