O‘ZBEKISTONDA LOYIHAVIY MOLIYALASHTIRISH ASOSIDA INVESTITSIYA RESURSLARINI JALB QILISH MEXANIZMINI TAKOMILLASHTIRISH

Agabekyan Roza Samvelovna

Mustaqil izlanuvchi

A.Avloniy nomidagi pedagogik

 mahorat milliy instituti

 E-mail: roza@gmail.com

ORCID: 0009-0008-8500-5201

Annotatsiya. Maqolada O‘zbekistonda loyihaviy moliyalashtirish asosida investitsiya resurslarini jalb qilish mexanizmini takomillashtirishning nazariy, uslubiy va amaliy jihatlari tadqiq etilgan. Investitsiya loyihalarini moliyalashtirishda kapital manbalarini diversifikatsiyalash, maxsus loyiha kompaniyasi (SPV) faoliyatini rivojlantirish, davlat va xususiy sektor o‘rtasida risklarni optimal taqsimlash, xalqaro moliya institutlari, tijorat banklari hamda kapital bozori instrumentlarini o‘zaro uyg‘unlashtirish masalalari yoritilgan. Uzoq muddatli investitsiya resurslari manbalarini diversifikatsiyalash bo‘yicha ilmiy-amaliy takliflar ishlab chiqilgan.

Kalit so‘zlar: loyihaviy moliyalashtirish, investitsiya resurslari, investitsiya loyihasi, SPV, kapital bozori, xalqaro moliya institutlari, aralash moliyalashtirish, moliyaviy risk, davlat kafolati, xususiy kapital, moliyalashtirish manbalarini diversifikatsiyalash.

СОВЕРШЕНСТВОВАНИЕ МЕХАНИЗМА ПРИВЛЕЧЕНИЯ ИНВЕСТИЦИОННЫХ РЕСУРСОВ НА ОСНОВЕ ПРОЕКТНОГО ФИНАНСИРОВАНИЯ В УЗБЕКИСТАНЕ

Агабекян Роза Самвеловна

Самостоятельный исследователь

Национальный институт педагогического

мастерства имени А.Авлони

E–mail: roza@gmail.com

ORCID: 0009-0008-8500-5201

Аннотация. В статье исследованы теоретические, методические и практические аспекты совершенствования механизма привлечения инвестиционных ресурсов на основе проектного финансирования в Узбекистане. Рассмотрены вопросы диверсификации источников финансирования инвестиционных проектов, развития специальных проектных компаний (SPV), оптимального распределения рисков между государственным и частным секторами, а также интеграции ресурсов международных финансовых институтов, коммерческих банков и инструментов рынка капитала. Разработаны научно-практические предложения по диверсификации источников долгосрочных инвестиционных ресурсов.

Ключевые слова: проектное финансирование, инвестиционные ресурсы, инвестиционный проект, SPV, рынок капитала, международные финансовые институты, смешанное финансирование, финансовый риск, государственная гарантия, частный капитал, диверсификация источников финансирования.

IMPROVING THE MECHANISM FOR ATTRACTING INVESTMENT RESOURCES THROUGH PROJECT FINANCE IN UZBEKISTAN

Agabekyan Roza Samvelovna

                                                               Independent researcher

National institute of pedagogical

excellence named after A.Avloni                                                 

E-mail: roza@gmail.com

ORCID: 0009-0008-8500-5201

Abstract. This article examines the theoretical, methodological, and practical aspects of improving the mechanism for attracting investment resources through project finance in Uzbekistan. Particular attention is paid to diversifying the sources of investment project financing, developing special purpose vehicles (SPVs), optimally allocating risks between the public and private sectors, and integrating the resources of international financial institutions, commercial banks, and capital market instruments. Scientific and practical recommendations are developed to optimize the diversify sources of long-term investment resources.

Keywords: project finance, investment resources, investment project, SPV, capital market, international financial institutions, blended finance, financial risk, government guarantee, private capital, diversification of financing sources.

https://zenodo.org/records/22212393

https://doi.org/10.5281/zenodo.22212393

Foydalanilgan adabiyotlar

1. O‘zbekiston Respublikasi Prezidentining 2022 yil 28-yanvardagi “2022-2026 yillarga mo‘ljallangan Yangi O‘zbekistonning taraqqiyot strategiyasi to‘g‘risida”gi PF-60 sonli Farmoni.
2. Kalia N. From Glasgow to ground level: How policy-driven project finance structures enable small-scale solar viability in emerging markets: Evidence from a 1 MW independent power producer in Himachal Pradesh, India // Energy for Sustainable Development. – 2026. – Vol. 94.
3. Fares A., El Azouni A.M., Al-Shihabi S., Al Alawi M. Finance-based scheduling for projects in owners’ portfolios: MILP versus improved GA and PSO // Engineering, Construction and Architectural Management. – 2025. – Vol. 33, Issue 4.
4. Bao L., Kusadokoro M., Chitose A. Financing road projects and its impact on off-farm work in rural China // Socio-Economic Planning Sciences. – 2025. – Vol. 99. – P. 1–14.
5. Miao Y., Tian Y., Cao J., Yu X. Green finance and privatization of green projects in the fossil fuels industry // Resources Policy. – 2025. – Vol. 103.
6. Xalbekov K.A., Togayev S.S. Investitsiya loyihalarini moliyalashtirish shakllari va usullari // Innovations in Science and Technologies ilmiy-elektron jurnali. – 2025. – № 2.
7. Berdiyev A. Investitsiya loyihalarini moliyalashtirishni takomillashtirish // Nashrlar. – 2023. – Vol. 1, Issue 1. – B. 183–186.
8. Kuzior A., Vasylieva T., Kuzmenko O., Koibichuk V., Brożek P. Global Digital Convergence: Impact of Cybersecurity, Business Transparency, Economic Transformation, and AML Efficiency // Journal of Open Innovation: Technology, Market, and Complexity. – 2022. – Vol. 8, Issue 4. – P. 1–24.
9. Weldegiorgis F.S., Dietsche E., Franks D.M., Cust J., Ahmad S. Mining and linkages for economic transformation: Revealing multi-stakeholder perspectives through Q-methodology // The Extractive Industries and Society. – 2022. – Vol. 12. – P. 1–14.
10. Liu J., Qiu F., Zhang T., Liu H. Dynamics of green economic development in countries joining the Belt and Road Initiative: Is it driven by green investment transformation? // Journal of Environmental Management. – 2023. – Vol. 347.