Volume 04 Issue 12-2024
128
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
ABSTRACT
The article presents information on the theoretical foundations of the digital economy, new principles of business
management, as well as problems arising in the development and application of modern information technologies of
the digital economy. The risks of their use in Uzbekistan, artificial intelligence and modern trends in the digitalization
of the global economy are also identified.
KEYWORDS
Risk, advanced technologies, artificial intelligence, financial resources, modern information, strategy, national brand,
innovation, gross domestic product.
INTRODUCTION
Resolution of the President of the Republic of
Uzbekistan “On the wide implementation of the digital
economy and e-
government” Based on the Resolution
No. PP-4699 of April 28, 2020 "On measures to increase
the digital economy's share in the country's gross
domestic product by 2 times by 2023 The economic
development strategy is based on factors such as the
development of industry, services and agriculture,
strengthening entrepreneurial initiative, and providing
financial resources. By implementing deep structural
changes in the economy, the country's gross domestic
product will reach $122 billion by 2035. In determining
this scale of growth, nominal GDP growth, economic
efficiency, and per capita income growth were taken
into account.
The social sector development department sets out
the following goals: developing human capital through
Research Article
DEVELOP DIGITAL ECONOMY AND INNOVATIONS IN OUR REPUBLIC
PROMISING DIRECTIONS
Submission Date:
December 10, 2024,
Accepted Date:
December 15, 2024,
Published Date:
December 30, 2024
Crossref doi:
https://doi.org/10.37547/ijmef/Volume04Issue12-13
Pak Timur Anatolevich
Student, International Agriculture University, LAU, Uzbekistan
Journal
Website:
https://theusajournals.
com/index.php/ijmef
Copyright:
Original
content from this work
may be used under the
terms of the creative
commons
attributes
4.0 licence.
Volume 04 Issue 12-2024
129
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
the education system and labor market, providing all
segments of the population with quality medical
services, improving the health of the population
through the development of science and innovation,
social protection, environmental protection, forming a
new generation of progressive thinkers, and
popularizing the country's national brand on an
international scale.
Uzbekistan's Development Strategy until 2035 Action
Strategy logical continuation being, our country in
development It is significant because it opens a new
page. The draft strategy outlines the projections for
implementing reforms in each area in a phased manner
and within specific timeframes to achieve the set goals.
The country's development today along a democratic,
evolutionary path is the most effective and is yielding
effective results. In a market economy, everything is
determined by supply and demand. Population
demand and offer satisfaction for the purpose of
Expanding research and development work on the
introduction of digital economy technologies through
modernization and accelerated development of
enterprises within the framework of the priority areas
of economic development and liberalization, approved
by the Decree of the President of the Republic of
Uzbekistan No. UF-4947 dated February 7, 2017 "On the
Strategy of Actions for the Further Development of the
Republic of Uzbekistan" The digital economy will play
a key role in implementing the Action Strategy 2035.[1]
As the President of the Republic of Uzbekistan Sh.M.
Mirziyoyev noted in his Address to the Oliy Majlis:
“...we know very well that the formation of a digital
economy requires the necessary infrastructure, a lot of
money and labor resources. However, no matter how
difficult it is, if we do not start this work today, when
will we start?! Tomorrow will be too late. Therefore, an
active transition to a digital economy will be one of our
top priorities in the next 5 years. Digital technologies
will not only increase the quality of products and
services, but also reduce unnecessary costs .”
Given global trends and developments in foreign
policy, Uzbekistan is facing challenges in terms of
global competitiveness and national security, and the
development of the digital economy in the country
plays an important role in addressing these challenges.
Some elements of the digital economy are already
operating successfully. Current on the day, documents
and of communications Taking into account the
widespread transition to digital means, authorization
for electronic signatures and communication with the
state are also being transferred to an electronic
platform.
Uzbekistan Republic President Sh.M. Mirziyoyev's 2020
According to the data presented at an event dedicated
to the development of information technologies on
February 13, 2018, "in the USA, the share of the digital
economy in GDP is 10.9 percent, in China 10 percent,
and in India 5.5 percent. In Uzbekistan, this indicator is
2 does not exceed percent." Therefore, the
Volume 04 Issue 12-2024
130
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
development of the digital economy in Uzbekistan, in
particular e-commerce services, is one of the most
important issues today. Electronic of trade fast
development two to the factor depends. For the seller,
e-commerce is one of the most affordable ways to do
business in the retail sector. For the buyer, this is an
opportunity to save money due to more attractive
prices for goods, as well as save time by delivering
goods to your home at a convenient time. The
advantages of online stores should also include their
round-the-clock operation and the ability to pay for
purchases or services in any way convenient for the
buyer (using various electronic payment systems,
giving cash to the courier upon delivery, staff working
at the reception point or in the warehouse). Virtual
commerce is widely represented in the segments of
electronics, household appliances, furniture, clothing
and footwear, and household goods. It is worth noting
that currently the market for online sales of food
products is developing rapidly, especially in large cities,
mainly due to the development of home food sales and
delivery services.
No country can rationally formulate and implement
economic policy without taking into account the
priorities of the global economy. In particular, the rapid
development of information and communication
technologies, inextricably linked with the objective
processes of globalization, has led to the formation of
a new type of economic activity - electronic commerce
or electronic trade. In relations between trading
organizations and customers, in managing the
processes of distribution of goods, monitoring the
market, suppliers, business partners and state offices
with effective opportunities of electronic networks,
primarily the Internet, are being actively used in the
development of relations.
In recent years, global e-commerce turnover has been
growing steadily. According to eMarketer, in 2018 it
amounted to 2.9 trillion US dollars. According to the
results of 2019, global e-commerce turnover is
expected to exceed 3.5 trillion US dollars, and by 2023
this figure is expected to reach 6.5 trillion US dollars
(Figure 1).
Volume 04 Issue 12-2024
131
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
1
–
picture 2017-2018 in years electron of trade world and forecast analysis for 2019-2023 (Marketer data) based on
(composed) [2]
The share of electronic trade in the total volume of
retail turnover is also growing. According to forecasts,
it is expected to increase by almost 10% in the next five
years, that is, it was 12.2% in 2018, and this indicator will
be 22% in 2023 (Figure 1). in 2019 The average growth
rate of e-commerce worldwide is 20.7% is more than
30% in some countries (Mexico, India, Philippines).
Current world according to widespread pandemic in
the circumstances this figures may be higher. The
reason is that in 2020 there is a decline in other sectors
of the economy due to the pandemic spread around
the world at the same time electronic commerce
turnover growth We will consider this using the
example of China, the "homeland" of the coronavirus.
In the first week after the Chinese New Year holiday
(January 25, 2020), food products delivery service to do
amplifier famous "Miss" Fresh” online compared to the
same period last year increased the number of orders
for products by 4 times. During this week alone, the
company sold 40 million food products. Eggs,
vegetables and meat products were the most popular.
JD, a pillar of Chinese e-commerce, also reported a
sharp increase in online sales. In particular, sales of
freshly picked fruits and vegetables through Dada, a
part of the JD e-commerce system, increased by 215
percent, and in total, the company sold more than
15,000 tons of food products in the 10 days after
January 25.
Volume 04 Issue 12-2024
132
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
The quarantine and the introduction of a state of
emergency in cities have negatively affected the
activities of supermarkets and hypermarkets.
However, there are markets that have recovered
through online sales. For example, the country's
largest retail operator, which has 486 hypermarkets
throughout China, closed 80% of its outlets on February
4 at the peak of the epidemic, but this did not
significantly affect the company's revenue. The closure
of hypermarkets was compensated by the WeChat
mobile application and online delivery service, which
operates through the social network. As a result of the
growth in online sales, the share of the Sun Art Retail
Group retail operator in the first quarter of 2020 is
expected to be 15% of the total retail sales.
Another popular retail operator in the country,
Yonghui Group, which owns more than 800
supermarkets, reported that its physical transaction
volume increased by 465 percent and online sales
increased by 600 percent in the 10 days following the
Chinese New Year.
At the same time, not only e-commerce of food
products, but also the volume of online purchases of
non-food products has increased. In particular, as a
result of the inability of the population to visit cafes
and other public catering establishments due to
quarantine, they began to purchase small household
appliances necessary for cooking at home, and their
volume increased by 332% during the analyzed period.
By the end of the quarantine, the population ordered
food containers necessary for taking food to work with
them. Thus, its volume increased by 340%.
In Uzbekistan both introduced in the country
quarantine As a result, a number of supermarkets
started e-commerce through various messengers is
pouring. But electron platform and internet systems
insufficient development is an obstacle to the spread
of online trade in all regions.
In the modern market economy, electronic commerce
has emerged as a means of ensuring victory for the
consumer in fierce competition by reducing a
significant part of the material and time costs inherent
in traditional trading methods. In this sense, full-
fledged electronic commerce appears, lives, and
develops in conditions of high competition in a
developed market economy and, as the essence of
market relations, requires the improvement of the
forms and methods of conducting trade transactions.
At the same time, it is necessary to point out the
negative consequences of e-commerce. According to
some studies, the rapid growth of online commerce in
the world has caused serious economic and social
problems. In the Internet age, the population of
developed countries no longer needs many stores. On
the other hand, sellers who are stuck in the usual
format of a store in a shopping center and cannot
access the Internet in time are at risk of bankruptcy. In
the United States, more than 3,500 stores were closed
in 2017. According to analysts, half of the shopping
centers in the United States may close in five years.
Volume 04 Issue 12-2024
133
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
This, in turn, will lead to an increase in unemployment.
The reason is that one operator can replace several
sellers at once. Also, when services are provided
through e-commerce, the need for large warehouses
and refrigerators for storing products is reduced.
In conclusion, it can be said that in the field of
electronic information from technologies use market
commodity-money as the basis and essence of
relations, it can significantly increase the efficiency of
the goods (services) market due to the reduction of
the number of intermediaries (i.e. commodity
exchange) in the movement of goods (services) from
the producer. It allows the consumer to accelerate
capital circulation, significantly reduce transaction
costs, and activate the processes of reconstruction of
regional economic complexes.
The development of national e-commerce reduces the
time for preparing and conducting trade transactions,
has a positive effect on strengthening competition
among local manufacturers, helps reduce prices for
products and services, improves the quality of
products and services, and creates new jobs through
development.
E-commerce indicators, one of the main areas of the
digital economy, in Uzbekistan are lower than the
world average. When we analyzed the data, the
following were found (Table 1).
Table 1
Electron commerce indicators [4]
№
Financial usage factors
Uzbekistan,%
1.
Financial in institutions account to the number owner people
number
37
2.
Credit on the map owner people number
0.6
3.
Number of people who have money in their mobile account
r/d
4.
Online trade does and or accounts online pays
7.1
5.
Credit on the map owner women number
0.6
6.
Credit on the map owner men number
0.5
7.
Online agreements to do amplifier number of women
4
Volume 04 Issue 12-2024
134
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
8.
Online agreements to do amplifier men number
10
Digital economy becomes a daily reality in modern
society, thanks to its use, the efficiency of all industries
increases. Use of modern computer technologies
opportunities are increasing qualitatively and
quantitatively - almost all operations can be carried out
via computer: paying money, ordering tickets,
obtaining necessary information, etc. In the era of the
digital economy, information plays a crucial role,
becoming a key intangible asset of enormous value.
Currently, many specialists and economists in the
country and abroad are trying to comprehensively
describe and understand the current state of
development of the new economy, including one of its
manifestations - the digital economy. Many
researchers distinguish between the objective and
subjective understanding and perception of this
phenomenon, which is characteristic of modern
economics, through the prism of subjective attitudes.
Economists often use a set of concepts that, upon
closer inspection, turn out to be synonymous, and their
subjective approach is an attempt to identify new
phenomena in economics and describe them more
quickly using their own terms. Objectively, this is more
a new phenomenon in modern economics aspects,
sides, signs, trends and laws The study and accounting
of new economic phenomena, in particular, the
separation of the digital economy as a relatively
independent part of the new economy, is of great
interest, since it is necessary to improve the quality and
speed of economic management, the rules of doing
business and legal to the field correction to enter,
digital technologies
–
the economy of impressions,
MISE-Industry, Smart-city, etc. allow for the creation of
innovative products, services and services based on
them .[5]
Paying close attention to the analysis of new trends
and phenomena in the economy, it can be noted that,
relying on the works of American researchers such as
Nicholas Negroponte, Chris Meyer, Mohanbir
Sawhney, Daniel Spulber, Don Tapscott, Steve
Jurvetson, and Patricia Seybold, the authors strive to
describe new aspects of the modern economy using
terms such as "new economy", "economy 2000",
"Internet economy", "net economy", "Web economy",
"digital economy", "electronic commerce", "intangible
economy", "non-material economy" . These terms are
often used synonymously when considering new
phenomena in the economy, which are based on the
formation of a global electronic network, the global
spread of personal computers, the creation and
continuous
improvement
of
software,
the
development of information and digital technologies,
and the production of intangible products and services
by IT companies.
Volume 04 Issue 12-2024
135
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
Based on the results of existing research in this area,
the following definition of the subject area of the
digital economy can be proposed: digital economy this
–
of existence digital shape a systematic set of
economic relations for the production, distribution,
exchange and consumption of goods and services. The
techno-digital nature of economic relations is the
digital economy are the main distinguishing marks.
Thus, if the new economy is a legitimate manifestation
of the post-industrial economy, the digital economy is
a new economy. expression to be evolution from the
forms one. So,
As a “form of form,” the digital economy has not only
a set of characteristics of the new economy, but also a
number of distinctive aspects that characterize the
qualitative specificity of the digital economy.
Along with the emergence of new laws and trends that
have no place in the "industrial" economy, digital
technologies focuses on the new content of traditional
economic rules that manifest themselves in a new way
in connection with and in harmony with. Under the
influence of scientific and technological progress and
economic development, serious changes are taking
place in the rules of the market economy, in the rules
of doing business, in the new manifestation of
traditional economic rules and laws. For example, the
emergence and development of electronic networks,
computers
and
software
products,
digital
technologies, electronic products and services
radically change the content, relationship and
significance of the following concepts in the new
economy: tangible (in the form of a thing) and
intangible (not in the form of a thing), geography and
distance, time and space, consumer value (utility) and
price, quality and quantity, competition and consumer
preferences, intermediation and logistics, human
capital and business ethics, transactions and
performance evaluation, the behavior of buyers and
sellers, new relationships between consumers and
manufacturers, marketing technologies and sales, etc.
It is clear that in developed countries, especially in the
USA, with the rapid development of Internet
companies and Internet firms, a new market for
Internet services, products, services, provider services,
etc. is being formed, which is penetrating all sectors of
the economy and changing the entire economy.
Therefore, in our opinion, it is appropriate to
distinguish between the Internet economy and the
digital economy in a narrow sense - as a set of relations
between Internet companies and firms in the creation
and use of digital technologies, products and services,
and in a broad sense - as the economy of enterprises of
any networks operating in the conditions of a global
electronic network, which has a number of distinctive
features in comparison with the "industrial" economy,
which corresponds mainly to the third and fourth
technological modes, and uses the digital format of
technologies. The new economy, in its digital content,
describes a deeper stage of economic development of
society based on the achievements of the fifth and
Volume 04 Issue 12-2024
136
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
sixth technological eras, in which companies and
individuals from all over the world can be
interconnected in various ways thanks to the network
and enter into business relationships instantly,
regardless of intermediaries, distance or geographical
location of markets, including innovative digital
technologies, products, services and service markets .
CONCLUSIONS AND SUGGESTIONS
So digital The ¬development ¬of the economy is first
class ¬, not only revolutionary technological changes
with, maybe determined by the laws of evolution of
the ¬new economy, modern management ¬¬in a new
way taking into account management principles and
business rules¬ to take directs, product quality and
labor serves to increase productivity, ¬eliminate
negative effects in the economic cycle,
reduce
inflation and unemployment, globalization in the
conditions of the economy stable growth provides.
Globalization of economic processes world electronic
network formation with related of the economy
various sectors Due to the strengthening of
integration, it becomes one of the main trends and
principles of the development of the modern
economy. This new economy On the one hand, legality
is a broad opportunity for global business On the other
hand, it radically increases the responsibility of firms
and
companies
to
consumers.
Consumer
dissatisfaction becomes immediately and widely
known.
The globalization of the economy, the "absence" of
time and space in the digital economy lead to a change
in the value of many factors of production, and, first of
all, the time factor. Time, as a category of social
production, has always determined the cost of
production. However, in current conditions, the
"price" of time is growing at an incomparable rate. In
the world of "instantaneous" connections between
producers and consumers, time (its savings and the
speed of transactions) big, to say maybe, strategic
advantage and this with one is an important
responsibility in any market. The ability of a company
to study the market situation, assess the conditions for
transactions, make decisions online and implement
transactions determines its success or failure in the
business world. The companies that have achieved
success in these conditions should include those that
have a policy of constant and continuous changes in
the production of products, primarily through the
promotion of digital business technologies and the
consumer side of the product. Such a policy will allow
to accelerate the "digitalization" of scientific and
technological progress and to ensure a strategic
advantage over traditional companies that are
successful from the outside.
REFERENCES
1.
Resolution of the President of the Republic of
Uzbekistan No. PP-4477 "On approval of the
Strategy of the Transition of the Republic of
Volume 04 Issue 12-2024
137
International Journal Of Management And Economics Fundamental
(ISSN
–
2771-2257)
VOLUME
04
ISSUE
12
P
AGES
:
128-137
OCLC
–
1121105677
Publisher:
Oscar Publishing Services
Servi
Uzbekistan to a "Green" Economy for 2019-
2030", October 4, 2019.
2.
Abdullaev O.M., Akhmedov K., Toshmatov Z.
Fundamentals of econometrics. T. Lesson-
Press. 20 2 1. - 420 p
3.
Gulyamov S.S., Ayupov R.H., Abdullaev O.M.,
Baltabaeva G.R.. Blockchain technologies in
the digital economy. T.: TMI, “Economy
-
Finance” publishing house, 20 2 1, 447 pages.
4.
Innovative economy: necessity, opportunity
and factor development v Rossii /Pod ed. E.P.
Dunaeva: Uchebnoe posobie. M.: Faculty of
Economics MGU, TEIS, 20 2 0. - 237 p.
5.
Keshelav, A.V. and etc. Introduction in "Digital"
economics - M., 2017,
6.
Kiselev Y.N. Electronic commerce: practical
manual.
–
. SPb.: OOO "DiaSoftYuP", 20 2 1.
7.
Komarov V. M. Basic pologeny theory is
innovative. - Izdatelsky dom "Delo" Moscow,
2022.
