ISSUES OF ENTREPRENEURSHIP DEVELOPMENT IN UZBEKISTAN

Entrepreneurship serves as a critical engine of economic growth, job creation, and innovation, particularly in transitioning economies. This paper examines the prevailing issues and challenges confronting entrepreneurship development in Uzbekistan, the Central Asian nation that has undergone significant economic and institutional reforms since 2016. Drawing upon a mixed-methods research design that integrates secondary quantitative data from national statistical agencies, the World Bank, and the International Finance Corporation alongside a systematic review of existing academic literature, this study identifies the principal barriers to entrepreneurial activity. These barriers encompass an underdeveloped access-to-finance ecosystem, regulatory burden, insufficient human capital, limited market integration, cultural attitudes toward risk, and institutional inefficiencies. The conceptual framework synthesizes institutional theory, human capital theory, and the resource-based view to provide an integrated explanation for the entrepreneurial landscape in Uzbekistan. Findings indicate that while substantial policy reforms have been implemented under the Development Strategy 2017–2021 and the New Uzbekistan 2022–2026 agenda, systemic challenges persist. The paper concludes with policy recommendations oriented toward creating an enabling environment for sustainable entrepreneurial growth, emphasizing financial sector reform, education-industry linkages, and digital transformation.