Innovation science and technologiy Ҷилди 2 № 5 (2026)
IMPROVING INVESTMENT ATTRACTION MECHANISMS IN UZBEKISTAN’S SERVICE SECTOR: BARRIERS, OPPORTUNITIES, AND POLICY RECOMMENDATIONS
Shermatov, Axror
Аннотатсия
This study aims to examine and evaluate the existing mechanisms for attracting investment intoUzbekistan’s service sector, identify the principal barriers impeding capital inflows, and propose evidence-basedrecommendations for institutional and regulatory improvements. The research specifically investigates howlegislative frameworks, financial instruments, and public-private partnership models affect investor decisionmakingin the context of a transitioning economy. A mixed-methods research design was employed, integratingquantitative survey data from 214 domestic and foreign investors operating in Uzbekistan’s service sector withqualitative insights obtained from 18 semi-structured expert interviews. Statistical analysis, including descriptivestatistics and factor analysis, was applied to the survey responses. Qualitative data were analyzed using thematiccoding. Secondary data from the State Statistics Committee of Uzbekistan, the World Bank, and UNCTAD reportsfor the period 2019–2023 were also incorporated. The study identifies digitalization, tourism infrastructure, andlogistics services as the sub-sectors with the highest untapped investment potential. This paper contributes to theinvestment climate literature by constructing a context-specific Investment Attraction Framework (IAF) tailoredto the service sectors of lower-middle-income transitioning economies. The framework synthesizes institutionaleconomics, location theory, and public-private partnership literature in a novel application to Uzbekistan’s postreformenvironment.
investment attraction, service sector, Uzbekistan, foreign direct investment, institutional reform, public-private partnership, investment climate.
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