Analysis of the Development of the Energy Sector in Uzbekistan and the Impact of Investment Factors on It
Keywords:
energy, energy sector, economic stability, renewable energy, investment, investment attractiveness, investment projects, national income, public-private partnership, gas condensate, conventional oil, fossil fuel
Abstract
The energy sector is the most important sector for the economies of countries around the world. This sector also has a significant impact on the stability of the national economy. A large part of the national income of countries is formed in this sector. The investment factor is very important for this sector. In the Uzbekistan’s economy, the energy sector is also a factor that has a positive impact on macroeconomic stability. Therefore, increasing the attractiveness of investment in this sector is the most pressing issue today. Therefore, this article analyzes the current state of development of the energy sector in Uzbekistan and the investment factor affecting it. The investment projects being implemented in the country today are considered. This study is aimed at the development of the energy sector in Uzbekistan for 2017-2020. Based on the analysis, scientific conclusions were drawn. Scientific proposals have been developed to develop the energy sector and increase its investment attractiveness.
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2. Luo, Y., Zhang, H. & Bu, J. Developed country MNEs investing in developing economies: Progress and prospect. JournalofInternationalBusinessStudies, 50, 633–667 (2019). https://doi.org/10.1057/s41267-019-00230-y
3. Giuliani, E., &Macchi, C. (2014). Multinational corporations’ economic and human rights impacts on developing countries: a review and research agenda. CambridgeJournalof Economics, 38(2), 479–517. http://www.jstor.org/stable/24694939
4. Worldometer platform data. Available from: https://www.worldometers.info/energy/uzbekistan-energy/
5. https://minenergy.uz/ru/lists/view/28
6. Olga Yu. Gorodetskaya, Gulnara I. Alekseeva, Kira A. Artamonova, Natalia A. Sadovnikova, Svetlana G. Babich, Elvira N. Iamalova, Anatoliy M. Tarasov. Investment Attractiveness of the Russian Energy Sector MNCs: Assessment and Challenges. International Journal of Energy Economics and Policy. Vol 11, No 2 (2021). https://doi.org/10.32479/ijeep.10823 , http://www.econjournals.com/index.php/ijeep/article/view/10823
7. Jesse Richman, NurullahAyyılmaz. Can the US and Europe contain Russian power in the European energy market? A game theoretic approach. Energy Strategy Reviews, Volume 26, 2019, 100393, ISSN 2211-467X, https://doi.org/10.1016/j.esr.2019.100393. https://www.sciencedirect.com/science/article/pii/S2211467X19300860
8. Lavrov S., Aleksanyan A. (2017) Case study: The Transnationalization of Russian Oil and Gas Companies. International Organisations Research Journal, vol. 12, no 1, pp. 209–228 (in Russian and English). DOI:10.17323/1996-7845-2017-01-209, https://iorj.hse.ru/en/2017-12-1/204247186.html
9. Samira Yakubova, SevaraYunusova, NargizaShaislamova, SherzodbekMurodov, Nuriddin Avazov and NodirjonShovkatov(2021). “The role of public-private partnerships in financing infrastructure projects”. E3S Web Conference, 284 (2021) 07018. DOI: https://doi.org/10.1051/e3sconf/202128407018, https://www.e3s-conferences.org/articles/e3sconf/abs/2021/60/e3sconf_tpacee2021_07018/e3sconf_tpacee2021_07018.html
10. Avazov Nuriddin, Azimova Lola and SaidjonKhayitov (2021). “The Impact of the Digitalization Process and Investment on the Structural Changes of the Economy”. REVISTA GEINTEC-GESTAO INOVACAO E TECNOLOGIAS. Vol. 11 No. 4 (2021). DOI: https://doi.org/10.47059/revistageintec.v11i4.2264. https://www.revistageintec.net/index.php/revista/article/view/2264
11. Avazov N.R., Rakhmanova N.T., Kakhramonov J.B., Azimova N.N., Muratova M.N. (2021). ENSURING MACROECONOMIC STABILITY AND INCREASING INVESTMENT ACTIVITY (A case of Uzbekistan). Journal of Contemporary Issues in Business and Government, 27(2), 5128-5136. doi: 10.47750/cibg.2021.27.02.525, https://cibg.org.au/article_10862.html
12. Avazov, N., &Maxmudov, N. (2021). THE IMPACT OF THE DIGITAL ECONOMY ON THE DEVELOPMENT OF THE WORLD ECONOMY. International Journal of Business, Law, and Education, 2(1), 8 - 13. Retrieved from https://ijble.com/index.php/journal/article/view/7
13. Avazov Nuriddin. The role of investment in digital economy. South Asian Journal of Marketing & Management Research (SAJMMR)https://saarj.comISSN: 2249-877X Vol. 10, Issue 4, April Spl Issue 2020, https://www.researchgate.net/publication/351344848_The_role_of_investment_in_digital_economy
14. Nuriddin Avazov. The impact of e-commerce to develop a digital industry in Uzbekistan. Asian Journal of Multidimensional Research (AJMR)https://tarj.in/ ISSN: 2278-4853 Vol 9, Issue 5, May, Spl Issue, 2020. https://www.researchgate.net/publication/343547887_The_impact_of_e-commerce_to_develop_a_digital_industry_Avazov_NR
15. Avazov N. The impact of foreign direct investment on economic growth. ACADEMICIA: An International Multidisciplinary Research Journal. https://saarj.com ISSN: 2249-7137 Vol. 11, Issue 2, February 2021. Available at: https://www.researchgate.net/publication/350695491_The_impact_of_foreign_direct_investment_on_economic_growth
Published
2021-11-25
How to Cite
Axmed, O., & Nuriddin, A. (2021). Analysis of the Development of the Energy Sector in Uzbekistan and the Impact of Investment Factors on It. Central Asian Journal of Innovations on Tourism Management and Finance, 2(11), 79-85. https://doi.org/10.47494/cajitmf.v2i11.172
Section
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Copyright (c) 2021 Otaboyev Axmed, Avazov Nuriddin
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