THE ROLE OF FOREIGN INVESTMENT IN ACCELERATING STRUCTURAL TRANSFORMATION OF UZBEKISTAN'S ECONOMY

Abstract: This thesis examines the role of foreign investment in accelerating structural transformation of Uzbekistan’s economy. Structural transformation is understood as a long-term process through which economic activity moves from relatively low-productivity activities toward manufacturing, modern services, technology-intensive industries and higher-value export sectors. Foreign investment can contribute to this process by providing capital, introducing advanced technologies, improving management practices, developing human capital and integrating domestic enterprises into international value chains. At the same time, the developmental effect of foreign investment depends on its sectoral composition, domestic linkages, technological content, export orientation and the absorptive capacity of the host economy.