The role and role of innovation in the development of our economy

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Conclusions and suggestions

In short, in modern enterprises engaged in innovative entrepreneurship and introducing innovations using foreign experience in the production process, wages are 2-3 times higher than traditional enterprises, work productivity is 2 times higher, especially the standard of living of workers is higher. the fact that the relative quality and well-being is ensured shows the positive aspects of today's innovative economic reforms. But along with the achievements, there are also problems that need to be solved .
For example:

  • that our entrepreneurs do not have sufficient skills in business management;

  • inability of working people to absorb news quickly;

  • they cannot adequately assess internal and external risks, the need for innovation and their position in the world market;

  • insufficient attention is paid to the development of enterprises, increasing competitiveness;

  • business environment and developing a structure to encourage innovation.


  1. Shavkat Mirziyoyev "On the strategy of reforming the banking system of the Republic of Uzbekistan for 2020-2025". May 12, 2020

  2. PF - 5296 - Decree of the President of the Republic of Uzbekistan on measures to fundamentally improve the activities of the Central Bank of the Republic of Uzbekistan. 09.01.2018

  3. Guzhin A.A., Guzhina G.N. Material interests in the system of economic growth // Moscow Scientific Review. 2012. No. 12-1. S. 6

  4. Guzhina G.N. Socio-economic essence and principles of formation of the strategic management system//Bulletin of the Russian State Agrarian Correspondence University. 2009. No. 6 (11). S. 141.

  5. Abdullaev, A., Abdullaev A , G., & Umirova, G. (2022). CONTENTS OF STRESS TESTING OF THE ECONOMIC SECURITY OF THE BANKING SYSTEM. Interconf .

  6. - Digital banks in Uzbekistan and their prospects July 26, 2021.


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