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FORMATION OF SUSTAINABLE FINANCING SYSTEMS FOR THE IMPLEMENTATION OF INNOVATIVE PROJECTS: EXPERIENCE OF UZBEKISTAN
Zilola Shamansurova

This study presents an analysis of state policy and mechanisms for creating sustainable financing systems for innovative projects in the Republic of Uzbekistan. It examines existing problems in the development of venture funds, startup ecosystems, and innovation infrastructure, as well as issues related to attracting state grants and foreign investments. The study also explores the necessity of financing through modern technology transfer and venture funds to accelerate innovative activities in the economy. Additionally, it analyzes the state of applied and fundamental scientific research and their effectiveness in being implemented in production.

01/31/2025
  • PDF (Uzbek)
513-523 98 76
ANALYSIS OF THE CURRENT STATE OF STATE FINANCIAL CONTROL
Mukhammadali Temirov

Practice shows that public finance management is constantly evolving, the organizational and legal forms of budgetary institutions are changing, as well as the procedure for their financing and state support for commercial organizations is also developing. It is obvious that this, in turn, increases the urgency of the issue of improving the state financial control. This article presents an analysis of the current state of work carried out in the system of state financial control in order to reform the public finance sector and ensure the efficient and rational use of budget funds.

11/30/2023
  • PDF (Uzbek)
156-165 199 287
CLASSIFICATION OF BUSINESS FINANCING SOURCES AND THEIR CHARACTERISTICS
Ulug‘bek Ortiqov

This article explores the classification of sources of entrepreneurship financing, the research of foreign and domestic researchers in the study of the specifics of financing. Classification of sources of financing of entrepreneurship and non-distributed profit are described. Based on the research carried out, appropriate conclusions and recommendations are formulated.

02/27/2025
  • PDF (Russian)
104-110 153 85
PROBLEMS AND SOLUTIONS IN AGRICULTURAL FINANCING
Mekhmonali Alikulov

The article studies the views of leading world scientists on problems and solutions in agricultural financing, describes existing problems and solutions in agricultural financing, analyzes the problems and solutions in agricultural financing in the top 7 most developed agricultural countries, and provides substantiated conclusions and proposals for solving problems in agricultural financing in our country.

01/31/2025
  • PDF (Uzbek)
23-30 153 77
MECHANISMS AND METHODS OF FINANCING INVESTMENT PROJECTS OF LARGE ENTERPRISES
Bobir Sultonmurodov

The article examines the concept and essence of investment lending and project
financing, foreign experience of banks in financing investment projects. It is known that financing
large enterprises in the country contributes to GDP growth and sustainable economic
development. Today, Uzbekistan pays great attention to improving the financial and banking
sector, banks with a state share are on the way to privatization. International financial
institutions such as the International Finance Corporation (IFC), the European Bank for
Reconstruction and Development (EBRD) and the Asian Development Bank (ADB) are involved in
the process of privatization of the banking sector. In this study, the possibilities of applying foreign
experience in financing investment projects were studied

02/29/2024
  • PDF (Russian)
606-611 171 138
THE NEED TO IMPROVE FUNDING FOR EDUCATIONAL SERVICES
Salim Dusanov

The article discusses financial resources, financing issues, problems and their significance in the education system. At the same time, analytical approaches to the effectiveness of financial resources in educational institutions and the basis for implementing new financing models are presented.

11/28/2025
  • PDF (Uzbek)
340-347 82 52
CLASSIFICATION OF HOUSING FINANCING SYSTEMS
Mukhabbatkhon Berdaliyeva

This article describes the classification, definition and specific features of housing financing systems currently in practice. The article also includes the main elements of debt and deposit relations. Also, in the article, the main financing subjects of the economy and financing mechanisms are presented in the housing financing system

11/29/2024
  • PDF (Russian)
413-423 98 68
WAYS OF FINANCING ECOLOGICAL INNOVATIONS THROUGH TAX INSTRUMENTS
Baxitjan Sarsenbaev , Dilfuza Umirbekova

This article analyzes the incentive and resource-mobilizing potential of tax instruments in financing ecological innovations. In the context of increasing climate change and environmental pollution, the development and implementation of “green” technologies require significant volumes of sustainable financial resources. The purpose of the study is to generalize international approaches to the use of tax mechanisms for supporting and financing ecological innovations, as well as to substantiate practical proposals for priority directions under the conditions of Uzbekistan. Along with the literature review, the study conducts a descriptive analysis based on indicators for the period 2021-2024, compares the volume of atmospheric pollutant emissions across regions, and evaluates the dynamics of electricity generation at solar and wind power plants. The results indicate variability in emission levels over the years and high concentration in certain regions; at the same time, a sharp increase in renewable energy production was recorded in 2024. These findings provide a basis for improving the design of tax policy to stimulate ecological innovations, taking into account regional and sectoral characteristics.

03/31/2026
  • PDF (Uzbek)
228-235 56 33
FINANCING OF ENTERPRISES IN THE FIELD OF TOURISM
Sarvar Abdurahimov

The article discusses the current situation and main trends in the field of financing tourism organizations in Uzbekistan. Both state and private sources of financing were analyzed, special attention was paid to the issues of preferential lending, tax incentives, and subsidizing projects aimed at the development of tourism infrastructure. The article identifies the main problems facing the tourism sector and suggests ways to overcome them based on the analysis of successful practices and strategies.

02/29/2024
  • PDF (Uzbek)
12-17 161 143
FOREIGN EXPERIENCE OF FUNDING PROFESSIONAL EDUCATION
Narimanjan Sodikov

In this article, the foreign experience of financing professional education is studied, and the opinions of foreign economists on financing education are presented. Also, discussions were held and conclusions were drawn regarding the current relevance of financing professional education, its impact on the country's economy.

05/31/2023
  • PDF (Uzbek)
198-204 90 53
THE ROLE OF FISCAL POLICY IN ENHANCING THE EFFICIENCY OF SOCIAL SECTOR FINANCING
Gulshan Imamova

This article examines the issues of financial support for the social sector. The study outlines the economic essence of the social sphere, its main funding sources, and its place within the state budget system. The role of fiscal policy in shaping social expenditures and supporting social development is also analyzed. The research employs both descriptive and econometric methods. Using a multiple regression model, it evaluates the impact of tax revenues, budget deficits, and inflation indicators on the share of social expenditures. The findings made it possible to develop certain scientific conclusions and practical recommendations aimed at improving the efficiency of social sector financing.

03/31/2026
  • PDF (Uzbek)
113-119 56 37
MODERN TRENDS IN FINANCING ARTIFICIAL INTELLIGENCE
Mehri Voxidova, Nigina Nuriddinova

This article provides a comprehensive analysis of the processes and directions of financing artificial intelligence (AI), which has emerged as a separate industry, investing in supporting the development of AI, and its impact on the development of other sectors and the labor market in the future.

12/27/2024
  • PDF (Uzbek)
202-208 112 48
PRACTICAL ANALYSIS OF FINANCING THE PENSION SYSTEM
Nuriddin Rajabov

The article analyzes the content and significance of the concept of "Practical analysis of pension system financing", income and expenses of the pension fund, financial sources of the pension fund, demographic, economic, social factors affecting the pension fund, state pension provision, funded pension provision, private pension provision, distributed and mixed pension models.

12/27/2024
  • PDF (Uzbek)
152-159 125 54
THE ROLE OF COMMERCIAL BANKS IN GREEN FINANCING IN UZBEKISTAN: INSTITUTIONAL FRAMEWORK, MARKET DYNAMICS AND POLICY PRIORITIES
Baxitjan Sarsenbaev , Axmed Kuanishbaev , Balzira Xayirbaeva

This article examines the role of commercial banks in advancing green financing in Uzbekistan amid climate change pressures and the country’s transition to a green economy. The study aims to identify the institutional and market barriers constraining green lending and to formulate practical recommendations tailored to the national financial system. Methodologically, the paper employs a mixed-method approach that combines document analysis, statistical analysis and comparative assessment of international experience. The empirical base includes national policy and statistical materials as well as analytical sources from international development institutions. The article contributes policy-relevant recommendations on taxonomy implementation, ESG disclosure, capacity building, and green mortgage instruments.

05/25/2026
  • PDF (Uzbek)
159-165 30 20
WAYS OF FINANCING THE COUNTRY'S ECONOMY BASED ON PUBLIC-PRIVATE PARTNERSHIP AND ATTRACTING INVESTMENTS
Mukhlisa Valieva

The purpose of this study is to analyze ways of financing the country's economy based on public-private partnership (PPP), attracting investment and increasing exports. Public-private partnership serves to effectively ensure economic development through cooperation between the public and private sectors. The article examines the impact of PPP on economic growth, mechanisms for attracting investment in modern projects, as well as the necessary strategies for increasing export potential.

10/31/2024
  • PDF (Uzbek)
337-343 116 89
ANALYSIS OF THE CURRENT STATE OF BUSINESS FINANCING PRACTICE BASED ON ISLAMIC FINANCE IN UZBEKISTAN
Obid Isroilov

This article analyzes the current state, prospects, and current problems of business financing based on Islamic finance principles in Uzbekistan. Information is provided on the practical application of such instruments as murabaha, ijara, musharaka, mudaraba, their distribution and implementation by financial institutions. Islamic finance services are also analyzed using the example of the activities of Islamic leasing (Taiba Leasing), fintech (IMAN) and Islamic insurance (Apex Insurance) organizations. The article thoroughly covers obstacles such as the legal framework, infrastructure, financial literacy of the population, and staff shortage of Islamic finance. The importance and promising directions of cooperation with foreign experience and international organizations are indicated. Therefore, the article can have practical significance for scientific researchers, government bodies, and Islamic finance institutions.

07/31/2025
  • PDF (Uzbek)
228-238 133 74
7 IPO AND SPO IN THE ECONOMIC HISTORY OF UZBEKISTAN: ACHIEVEMENTS, PROBLEMS AND CONCLUSION
Kakhramon Chinkulov

The article analyzes the current state of financing of joint stock companies through IPOs and the sale of shares through SPOs. The economic history of Uzbekistan presents the results of 7 public offerings (IPO/SPO) of enterprises Quartz JSC, Kokand Mechanical Plant JSC, Jizzakh Plastics JSC, UzAuto Motors JSC, Uzbekinvest JSC, Uzbektelecom JSC, achievements and problems in this regard. Appropriate conclusions were drawn on the topic and proposals were made.

06/30/2024
  • PDF (Uzbek)
507-518 104 59
ANALYSIS OF THE FINANCIAL MARKET STATUS OF MALAYSIA, INDONESIA AND BANGLADESH WITH DUALISTIC FINANCIAL SYSTEMS
Ruhiddin Zayniddinov

This article analyzes the current state of the financial markets of countries such as Malaysia, Indonesia, and Bangladesh, which operate in a dualistic financial system by integrating the alternative financial system into the conventional financial system. In particular, this article focuses on a comparative analysis of the participation of Islamic and conventional banks in the financial markets of Malaysia, Indonesia, and Bangladesh, examining the state of financing of the production and service sectors, attracting investments, and other types of service activities. This study mainly uses a quantitative approach.

01/31/2025
  • PDF (Uzbek)
244-253 148 79
CURRENT STATE OF THE USE OF DIGITAL PLATFORMS IN THE DEVELOPMENT OF BUSINESS EXPORT
Dilshod Mamasoatov

The article economically analyzes the current state of the use of digital platforms in the development of business exports, and makes proposals for the creation of a unified database of information on the volumes and types of products produced by business entities, as well as for the development of financing. mechanisms for promising projects in the field of entrepreneurship and innovation.

05/31/2024
  • PDF (Uzbek)
166-174 167 86
FOREIGN EXPERIENCE IN THE FUNCTIONING OF THE PENSION SYSTEM
Mastura Allayarova

This article reveals the role of pension provision and compulsory pension insurance in the social protection system of the population in modern states, as well as their significance in ensuring sustainable development. The study conducts a comparative analysis of the levels of compulsory, corporate, and private pension provision, their sources of financing, the range of participants, and functional characteristics using the pension systems of Germany, Italy, and the United States as examples. In addition, the regulatory role of the state in the pension system, the principle of intergenerational solidarity, the importance of funded pension mechanisms, and the impact of population aging on the pension system are highlighted. The article also compares the experience of certain foreign countries according to such criteria as retirement age, minimum insurance record, and the amount of insurance contributions. The current state of the pension system of Uzbekistan is substantiated, along with the factors affecting its financial stability under demographic changes, the need to improve compulsory pension insurance, and the priority directions of reforms. In conclusion, it is noted that the development of the funded component of pensions, the strengthening of actuarial assessment, and the harmonization of compulsory and voluntary pension mechanisms, while adapting international experience to national conditions, contribute to improving the efficiency of the pension system.

01/30/2026
  • PDF (Uzbek)
29-37 79 66
FOREIGN EXPERIENCE IN FINANCING WOMEN'S ENTREPRENEURSHIP AND THE POSSIBILITY OF ITS USE IN UZBEKISTAN
Subhinigor Saidova

The article examined the foreign practice of financing Women's Entrepreneurship and the possibilities of its use in Uzbekistan. At the same time, the existing problems are highlighted in this process, and recommendations for their elimination are developed.

06/30/2024
  • PDF (Uzbek)
168-176 148 82
WAYS TO IMPROVE THE EDUCATIONAL CREDITING MECHANISM
Akmal Rasulov

The article is devoted to the improvement of the mechanism of crediting education, and many scientific studies have been studied in the framework of the study. Existing problems in education crediting mechanisms were examined one by one, as well as sustainable financing models were studied and proposed to be introduced in Uzbekistan

03/30/2024
  • PDF (Uzbek)
414-422 113 80
PRACTICE OF SUBSIDIZING HIGHER EDUCATIONAL INSTITUTIONS IN UZBEKISTAN: MAIN CHARACTERISTICS OF SUBSIDIZING UNIVERSITIES AND STUDENTS
Shamsiddin Valiyev , Shuxrat Xolmuminov

The ways of the process of subsidizing universities within the framework of state finances in direction to universities and students have been studied on the basis of many studies. This article analyzes the main trends in the organization of subsidizing higher education in Uzbekistan, in recent еars in the direction to universities and students. Based on the analyses and studies, conclusions and proposals were made to change the features and aspects of the main areas of subsidization.

02/27/2025
  • PDF (Uzbek)
200-210 83 50
ENSURING THE INNOVATIVE DEVELOPMENT OF INDUSTRIAL SECTORS IN UZBEKISTAN: CURRENT CHALLENGES AND PROSPECTIVE OPPORTUNITIES
Bekmuxammad Tursunov

The article comprehensively examines the existing problems and promising opportunities for ensuring the innovative development of Uzbekistan's industrial sectors. Factors affecting the processes of ensuring the innovative development of industries and the features of their development are presented on a systematic basis. The current state of the organizational basis and effectiveness of relations in the processes of innovative development of industrial sectors is assessed. Scientific proposals and practical recommendations have been formulated to address existing problems in the process of ensuring the innovative development of industrial sectors.

03/31/2026
  • PDF (Uzbek)
253-261 57 39
THE STRATEGIC IMPORTANCE OF “GREEN” INVESTMENTS AND EMPLOYMENT IN ACHIEVING SUSTAINABLE DEVELOPMENT GOALS
Ilhom Muxtorov

This article highlights the importance of “green” investments and employment in the process of implementing the Sustainable Development Goals (SDGs) in Uzbekistan. It examines the integration of the SDGs into national development policy, the practice of green budgeting, and the institutional and financial mechanisms for transitioning to a green economy within the framework of the “Uzbekistan–2030” Strategy. In particular, the article analyzes the dynamics of investments directed toward renewable energy, the tagging of state budget expenditures in accordance with the SDGs, and green financing instruments. Based on this analysis, it substantiates the role of green investments in achieving SDGs 7, 8, 9, 11, 12, and 13. Based on the results of the analysis, relevant conclusions are formulated, and scientific proposals and practical recommendations are developed.

03/31/2026
  • PDF (Uzbek)
177-185 52 37
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