INNOVATION MANAGEMENT AS A FACTOR IN THE DEVELOPMENT OF UZBEKISTAN'S ECONOMY

Abstract

This article examines the role of investment and innovation in ensuring stable macroeconomic growth and the main directions of the state investment strategy of Uzbekistan. The purpose of the study is to analyze investments and innovations as a factor in the development of sectors of the economy of Uzbekistan. The study used the methodology of logical, historical, statistical and comparative analysis, methods of expert assessments, economic modeling, a method for assessing the reliability of qualitative and quantitative statistical indicators. The main hypothesis of the study was the assumption that without innovation, capital investments may be ineffective and even harmful, prolonging the future production of uncompetitive products. Presentation of the main material. The national aspect of sustainable development for the Republic of Uzbekistan is determined, first of all, by its formation as a sovereign state, the need for the fastest way out of socio-economic difficulties and environmental tension, raising the standard of living of the population, entering the world community, maintaining good-neighborly relations with other countries of the world and mutually beneficial cooperation. The practical significance of the work lies in the application by the executive authorities of the research results when drawing up medium-term and long-term programs for the socio-economic development of Uzbekistan. Conclusions and prospects for further research. The main directions of the state investment strategy can be formulated as follows: pursuing a targeted policy to deepen structural reforms; comprehensive support of priority industries in order to ensure the high competitiveness of domestic products in the domestic and world markets