THE ROLE OF TECHNOLOGY AND INNOVATION IN DRIVING ECONOMIC GROWTH IN UZBEKISTAN
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Abstract
This paper examines the critical role of technology and innovation in driving economic growth in Uzbekistan, a nation undergoing significant transformation as it seeks to modernize its economy and integrate into the global market. As technological advancements continue to reshape industries, Uzbekistan has recognized the importance of fostering a conducive environment for innovation to stimulate economic development. The study employs a mixed-methods approach, combining quantitative data on economic indicators, technology adoption rates, and innovation metrics with qualitative insights from interviews with industry experts, entrepreneurs, and policymakers. The findings reveal that technology and innovation are key drivers of productivity, efficiency, and competitiveness across various sectors, including agriculture, manufacturing, and services. Moreover, the research highlights the impact of government initiatives aimed at promoting technology adoption and supporting startups, which have led to increased investment in research and development (R&D) and enhanced access to digital resources. However, challenges such as limited access to financing, regulatory barriers, and a need for improved digital infrastructure remain significant hurdles to fully realizing the potential of technology and innovation. The paper concludes with recommendations for policymakers and stakeholders to strengthen the innovation ecosystem in Uzbekistan, ultimately contributing to sustainable economic growth and development.
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