THE IMPACT OF DIGITAL TRANSFORMATION ON INVESTMENT ATTRACTIVENESS IN UZBEKISTAN: EMPIRICAL ANALYSIS AND REGIONAL COMPARISON

Authors

  • Zaripov X. Z. Associate Professor of the Department of Economics, PhD Ma’mun University
  • Yakubova Y. R. Associate Professor of the Department of Economics, PhD Ma’mun University
  • Masharipova X. M. Associate Professor of the Department of Economics, PhD Ma’mun University

Keywords:

Digital transformation, investment attractiveness, foreign direct investment, IT sector, correlation-regression analysis, regional comparison.

Abstract

This article empirically examines the impact of digital transformation on Uzbekistan's investment attractiveness using correlation-regression analysis methods. Based on official data from UNCTAD, the World Bank, and IT Park for the period 2018–2023, a very strong relationship was established between the number of IT Park residents and IT services exports (r = 0.994, p < 0.001), and between fintech companies and online payments (r = 0.998, p < 0.001). However, the relationship between FDI and internet coverage was found to be statistically insignificant (p > 0.05), indicating that investment decisions depend not only on infrastructure but more so on the quality of the institutional environment. Regional comparison (Uzbekistan, Kazakhstan, Georgia) reveals that Uzbekistan leads the region in IT export growth (+1,114%, 2018–2023), yet lags behind neighboring countries in the FDI/GDP ratio (2.4%) and institutional indicators.

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Published

2026-05-21

Issue

Vol. 4 No. 5 (2026): EJEFBD

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

How to Cite

THE IMPACT OF DIGITAL TRANSFORMATION ON INVESTMENT ATTRACTIVENESS IN UZBEKISTAN: EMPIRICAL ANALYSIS AND REGIONAL COMPARISON. (2026). European Journal of Economics, Finance and Business Development, 4(5), 1-7. https://europeanscience.org/index.php/2/article/view/1752