In order to stabilize the financial situation in prestigious companies around the world, create new jobs and achieve economic growth, it is necessary to "switch to international standards of management, use transfer assessments in the process of concluding financial agreements in the cluster and cooperative system entities, provide financial and management reports on operational segments".

Pilgrimage tourism is one of the promising areas of tourism development in the Republic of Uzbekistan. The article examines the main indicators and trends in the development of pilgrimage tourism in Uzbekistan, as well as its socio-economic consequences. The purpose of the study is to identify the role of pilgrimage tourism in the economy of the Republic of Uzbekistan, to determine the main indicators and trends in the development of this area of tourism. The ideas of the study are that pilgrimage tourism has significant potential for the development of the economy of Uzbekistan, creating jobs and improving the standard of living of the population.

The research contributes to the development of theoretical knowledge about pilgrimage tourism in Uzbekistan. The practical significance of the study lies in the fact that its results can be used to develop strategies for the development of pilgrimage tourism in Uzbekistan, as well as to improve the efficiency of management of this tourism area.
The methodological basis of the research is the economic and sociological approaches. The research uses methods such as statistical data analysis, including correlation and regression analysis; analysis of official legal documents and scientific literature, generalization, forecasting.
As a result of the study, the following main results were obtained. In 2022, about 313.9 thousand pilgrims visited the country, which is about 6% of the total number of international tourists. Revenues from pilgrimage tourism in 2022 amounted to 125.6 million dollars, which is about 1.52% of the GDP of the Republic of Uzbekistan. According to the forecast for 2023, the incoming tourist flow to the Republic of Uzbekistan will grow to 7 million people, the number of pilgrim tourists will amount to 420 thousand people. Then the income from pilgrimage tourism in 2023 It will amount to $168 million, and the total revenue from tourism will amount to $ 2.8 billion. Using correlation analysis, a direct noticeable correlation was revealed between employment in the tourism sector and income from tourism. Pilgrimage tourism is one of the promising areas of tourism development in Uzbekistan. The results of the study contribute to the development of theoretical knowledge about pilgrimage tourism in Uzbekistan. The results of the study can be used to develop strategies for the development of pilgrimage tourism in Uzbekistan, as well as to improve the efficiency of management of this area of tourism. In particular, the study can be used to improve the regulatory framework governing activities in the field of pilgrimage tourism; development of infrastructure for pilgrimage tourism; promotion of pilgrimage tourism in foreign markets.

The sustainable development of the national financial market is closely linked to the modern mechanisms of corporate capital formation and the efficiency of the securities market. This study provides a detailed analysis of the integration processes between corporate finance instruments and the capital market infrastructure, and scientifically highlights the impact of the securities market on investment processes. During the research, system analysis, comparative economic analysis, economic-statistical methods, and analysis of the regulatory and legal framework were employed. The results showed that the interaction between corporate finance and the securities market can optimize capital value, expand the investment opportunities of enterprises, and contribute to the sustainable growth of the national economy. Such measures ensure the transparency and competitiveness of the financial system and contribute to its improvement in line with international standards.

This article also examines the impact of the development of the international currency market on the global financial architecture. During the study, various aspects were studied, including the economic essence, theoretical and legal foundations for attracting capital from the international financial market, analysis of the current state of attracting capital, literature analysis, and a research project. As a result of research identified the problems and opportunities associated with the development of the international foreign exchange market. It was determined that in order to develop a more efficient and stable foreign exchange market, it is necessary to strengthen the regulatory framework, increase market transparency, improve risk management practices, and strengthen investor protection measures.

The analysis of transfer pricing methods and the possibilities of applying them to the activities of business entities is the most important task of ensuring the fairness and transparency of cross-border transactions between related parties. The introduction of effective transfer pricing methods will prevent tax evasion and ensure a fair distribution of tax liabilities between related enterprises. However, it can also be challenging and requires additional resources and expertise to properly apply the methods and comply with tax laws.

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

This article provides an in-depth analysis of the role, practical application, and prospects of public-private partnership (PPP) mechanisms in regional development. PPP plays a special role in economic growth in the regions, the construction of modern infrastructure, improving the quality of services provided to the population, and improving the investment climate. The study examined the effectiveness of PPP projects and the socio-economic results achieved through them using the example of Kashkadarya region. As a result of statistical data, analysis of regulatory legal acts, and analysis conducted using the comparative method, it was established that cooperation based on PPP serves the widespread introduction of innovative and financial solutions in regional development. At the end of the article, relevant scientific and practical recommendations for improving these mechanisms are given.

This article is devoted to assessing the prospects for attracting foreign direct investment (FDI) to Uzbekistan until 2030 in the context of accelerating structural modernization of the economy, expanding public-private partnerships, the growth of the "green" agenda, and the deepening of digital reforms. The purpose of the study is to identify factors that determine not only the quantitative scale of capital inflow but also its qualitative contribution to productivity, technological renewal, export diversification, and the formation of local value chains. The methodological framework combines comparative-institutional, structural, and problem-oriented analysis of official and analytical materials from 2022-2025. Based on a literature review, it is shown that for developing and transition economies, the sustainable effect of FDI depends on the quality of institutions, the predictability of the regulatory environment, the depth of the financial market, and the state's ability to link investment policy with industrial, innovation, and infrastructure strategies. It is established that Uzbekistan possesses significant competitive This article is devoted to assessing the prospects for attracting foreign direct investment (FDI) to Uzbekistan until 2030 in the context of accelerating structural modernization of the economy, expanding public-private partnerships, the growth of the "green" agenda, and the deepening of digital reforms. The purpose of the study is to identify factors that determine not only the quantitative scale of capital inflow but also its qualitative contribution to productivity, technological renewal, export diversification, and the formation of local value chains. The methodological framework combines comparative-institutional, structural, and problem-oriented analysis of official and analytical materials from 2022-2025. Based on a literature review, it is shown that for developing and transition economies, the sustainable effect of FDI depends on the quality of institutions, the predictability of the regulatory environment, the depth of the financial market, and the state's ability to link investment policy with industrial, innovation, and infrastructure strategies. It is established that Uzbekistan possesses significant competitive

In this article, special attention is paid to further reducing the negative impact on the competitiveness of the republic's economy by gradually reducing the monopoly on commodity and financial markets, improving the efficiency of the system of granting benefits and preferences, as well as reducing the regulatory burden on business entities and radically improving the interaction of taxpayers in the implementation of tax administration and the fulfillment of tax obligations of the republic.

This article focuses on further reducing the negative impact on the competitiveness of the republic's economy by gradually reducing the monopoly in the commodity and financial markets, increasing the efficiency of the system of giving benefits and preferences, as well as reducing the legislative regulatory system. It is envisaged to fundamentally improve the mutual cooperation of taxpayers in the implementation of tax administration and the fulfillment of republican tax obligations.

In this article, special attention is paid to further reducing the negative impact on the competitiveness of the republicʼs economy by gradually reducing the monopoly on commodity and financial markets, improving the efficiency of the system of granting benefits and preferences, as well as reducing the regulatory burden on business entities and radically improving the interaction of taxpayers in the implementation of tax administration and the fulfillment of tax obligations of the republic.

This article deals with ensuring the effectiveness of the tax-budget system in the new development strategy of our republic. Formulas for calculating the tax potential are given, as well as proposals for improving the tax policy, improving the development of existing innovative methods and methodological approaches in determining the needs of spending in the budget and the main aspects of equalization programs, and using a wide range of economic-mathematical modeling and forecasting methods.

In this article, special attention is paid to the regulation of taxation of subsoil users in the Republic of Uzbekistan, ensuring the necessary level of collection of taxes and other mandatory payments, implementation of tax administration of taxpayers and the fundamental improvement of service and technical services on the basis of mutual cooperation in the fulfillment of tax obligations. Taxation of underground entrepreneurs is a complex and difficult area that requires careful consideration and improvement. Provides an overview of issues related to the taxation of underground entrepreneurs and suggests potential areas for improvement. Taxation of underground entrepreneurs is a complex issue that requires deep consideration and improvement. By addressing the issues related to the tax regime, transparency, tax administration and tax incentives, it is possible to create a more favorable and favorable environment for entrepreneurs of underground resources, to promote investment, economic growth and sustainable development of the sector.

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

This article analyzes the economic significance of customs services and their role in supporting entrepreneurship in Uzbekistan amid expanding trade flows and increasingly complex supply and logistics chains. The relevance of the study is explained by growing demands for faster customs clearance, greater transparency and security, the need to improve the risk management system, and the wider adoption of digital solutions. The research approach combines a review of relevant academic literature, an analysis of regulatory and legal documents, and descriptive–dynamic comparative analysis based on official statistics. The results indicate rising concentration in the structure of imports and exports and an increase in associated risks, thereby substantiating policy directions focused on risk-based control, automation, and the reduction of the “human factor.” The author interprets customs authorities as a strategic trade infrastructure and provides practical recommendations. The study’s scientific contribution lies in systematizing the mechanisms through which customs services facilitate trade, identifying key indicators, and proposing areas for improving practical reform measures.

The article examines the specific features of the functioning of the current mechanism for managing public procurement in the Republic of Uzbekistan. A comprehensive analysis of the regulatory and legal framework, organizational structure, and procedural components of the procurement system has been conducted, covering the stages of planning, tendering, contract conclusion, and monitoring of contract implementation. The study identifies key challenges affecting the efficiency of public procurement, including a low level of automation, limited competition, weak coordination among procurement entities, and a formal approach to assessing actual needs. Special attention is given to issues of digitalization, procedural transparency, and the introduction of modern methods of control and evaluation. Based on the findings, several directions for improving the existing mechanism are proposed, such as the development of electronic infrastructure, the institutionalization of risk management practices, and the enhancement of personnel qualifications. The results obtained may be used for reforming the procurement system and forming a more sustainable model for managing budgetary resources.

The article examines how WTO accession influenced the development of project management systems in Central Asian countries. Its relevance lies in the need to align trade-related reforms with project environment modernization amid Uzbekistan’s accession process. The methodology combines qualitative comparative analysis, case study, and content analysis of OECD, WTO, IMF, and World Bank materials. The findings show that in Kyrgyzstan, Tajikistan, and Kazakhstan WTO membership stimulated customs digitalization, single-window mechanisms, e-procurement, and greater regulatory transparency. The scientific and practical contribution of the study lies in developing recommendations for Uzbekistan on linking WTO-related reforms with project management modernization, digital monitoring, compliance procedures, and integrated project implementation control.

This article provides a comprehensive analysis of the theoretical, methodological, and institutional aspects of implementing a mass property valuation system in the Republic of Uzbekistan. The study substantiates the limitations of traditional cadastral valuation methods in an economy based on market mechanisms and reveals the necessity of introducing a transparent and automated mass valuation system aligned with international best practices. The paper presents a comparative analysis of individual and mass valuation approaches, highlighting their role in tax base formation and functional differences. The advantages of using GIS technologies, mathematical and statistical models, large-scale data (Big Data), and multiplicative valuation models in the mass valuation process are demonstrated. In addition, ongoing reforms, the regulatory and legal framework, institutional structures, and step-by-step implementation mechanisms of the valuation system are analyzed. The research findings contribute to fair and economically justified property tax assessment, stabilization of budget revenues, and increased transparency in the real estate market.

Tax reforms aimed at creating a fair, transparent, long-term and international tax system in the Republic are economically and legally based and are convenient and beneficial for taxpayers. First of all, the legal basis for guaranteeing the activities of business entities and investors in the tax field was created, and the new tax concept, the Tax Code and more than 150 laws, decrees, decisions and other regulatory documents were adopted. In order to create a level playing field, more than 80 different tax incentives have been canceled. The practice of granting individual benefits has been abandoned. This article describes ways to improve taxation of business entities and problems.

This study explores how Islamic finance can be effectively introduced in non-Islamic economies, with a focus on Uzbekistan’s legal and economic environment. Through examining global models such as dual banking, hybrid systems, regulatory sandboxes, and institutional frameworks couple with case studies from the UK, Malaysia, Bahrain, Singapore, and Nigeria, the research highlights how diverse jurisdictions have adapted to Shariah-compliant finance. Using a qualitative methodology, it emphasizes the need for regulatory innovation and alignment with Islamic principles. The study offers policy recommendations to support inclusive, ethical, and sustainable financial development, positioning Islamic finance as a strategic tool for economic diversification in Uzbekistan.

The article states that excise taxes are included in the price of excise goods and
thus passed on to final consumers. At the same time, general information about the analyzes
conducted on the production and sale of alcohol and tobacco products in Uzbekistan is given. The
study includes a comprehensive examination of market dynamics, regulatory frameworks,
industry players and socio-economic factors affecting these two sectors.
Excise tax plays an important role in the formation of state revenues and regulation of
consumption of certain goods and services. This article outlines the main directions for improving
the control mechanisms of the excise tax administration, focusing on policy reforms integration
and capacity building in tax authorities.

The national capital market in Uzbekistan is undergoing a significant transformation as part of the country's broader economic liberalization and modernization efforts. This article provides an in-depth assessment of the current state of the capital market in Uzbekistan, analyzes the problems it faces and the prospects for its development. The analysis draws on recent reforms, legislative changes and market trends to assess the effectiveness of current strategies and suggest recommendations for further improvements. The results highlight the importance of a coherent regulatory framework, increased market transparency and increased investor confidence in creating a dynamic and sustainable capital market in Uzbekistan.

From a theoretical point of view, the article highlights the foreign experience of legal regulation of the organization of internal control and audit, which includes the stages of development of legal support for the organization of internal control and audit around the world, the provisions of the Sarbanes Law. The Oxley Act on the organization of internal control, including: issues such as corporate responsibility, auditor independence and conflict of interest, transparency of financial reporting, creation of regulatory bodies at the organizational and state levels are explored.
The article also provides a more comprehensive overview of the responsibilities for setting up and maintaining internal controls and the requirements for a board of directors in the UK. In addition, the main documents in the field of regulation of internal control and audit in the EU countries were studied. Unlike foreign countries, our national legislation subjected to a critical analysis of the existing legal documents on the organization of internal control and audit.

This paper examines the trade dynamics of landlocked Central Asia, with a particular focus on Uzbekistan. The geographical disadvantages of Uzbekistan, a double-landlocked country, significantly impede its trade competitiveness due to high transportation costs and prolonged transit times. Historically dependent on exports of commodities such as cotton, gold, and natural gas, Uzbekistan’s economy remains vulnerable to global market fluctuations. To mitigate these challenges and enhance its trade potential, the study underscores the necessity of diversifying into value-added sectors and improving trade logistics infrastructure. By employing the gravity model of trade, the paper evaluates the impact of trade facilitation measures on bilateral trade volumes within the Central Asian region. The findings highlight the critical role of infrastructure development, customs modernization, and regional cooperation in bolstering Uzbekistan’s trade efficiency. The analysis reveals that countries with advanced trade facilitation measures engage in higher trade volumes with Uzbekistan, suggesting that strategic investments in transport infrastructure and regulatory reforms are pivotal. These efforts are essential for integrating Uzbekistan more effectively into global markets and fostering economic growth within the region.

The article explores the economic content and significance of ensuring economic
and financial stability of insurance companies. It examines the economic environment of
insurance, its sensitivity to changes, and, through financial and statistical analysis, the scientific
and practical aspects of ensuring the stability of insurance companies are studied. The article also
discusses risk management strategies, regulatory documents, and their financial impact, which
are essential for maintaining stability. The financial stability of insurance companies not only
influences the sector itself but also has a significant impact on the national economy. Therefore,
the article presents proposals and recommendations aimed at strengthening the insurance system
in the economies of various countries.