American Journal of Business Management, Economics and Banking ISSN (E): 2832-8078 Volume 8, | Jan., 2023 P a g e | 96 www.americanjournal.org “TRENDS OF INNOVATIVE DEVELOPMENT IN THE REPUBLIC OF UZBEKISTAN” Yuzbaeva Makhfuza Zakirjanovna, Senior teacher Mukumova Nargis Nuriddinovna, Senior teacher Charshanbieva Bakhtiniso Ural qizi. Magistrant Samarkand State University of Architecture and Construction Samarkand, Uzbekistan A B S T R A C T K E Y W O R D S This article examines the role of innovation in the economic development of the country. Studied legal acts aimed at the development of domestic innovations. Innovation, innovative development, science, innovative products. Introduction In the modern economy, the role of innovation is increasing. This is due to the fact that in a market economy, innovations are a weapon of competition, since innovation leads to a decrease in costs, to a decrease in prices, to an increase in profits, to the creation of new needs, to an inflow of money, to an increase in the image (rating) of a manufacturer of new products, to the opening and capture of new markets, including external. As you know, innovation is the result of creative and investment activities aimed at the development, manufacture and distribution of new types of goods, services and technologies, organizational forms at the firm level. The purpose of innovation is to increase the competitiveness of the company, goods and services and thereby increase the profit of the company. The practice of economically developed countries shows that sustainable economic growth in the context of global economic competition is due to a high level of implementation of new technologies and developments in production. According to various estimates, from 70 to 100% of production growth in these countries is today provided through the use of innovations [5]. Note that in economically developed countries, the development of innovative activities is stimulated by the government by creating the necessary economic, financial, organizational and regulatory conditions. As the experience of using the resources of scientific and technical information, innovation policy shows. If, on average, the cost of basic research per unit, then the cost of applied research and development works 10 times higher. The President of the Republic of Uzbekistan Shavkat Mirziyoyev, speaking with a Message to the Parliament of the country, noted that “today we are moving to the path of innovative development American Journal of Business Management, Economics and Banking Volume 8, Jan., 2023 P a g e | 97 www.americanjournal.org aimed at fundamentally improving all spheres of life of the state and society… Innovation means the future. If we start building our great future today, we must do it, first of all, on the basis of innovative ideas, an innovative approach.1 World experience convincingly proves that innovative technologies have become the most important means and condition for the development of modern production and the economic potential of the state. They combine the advanced achievements of science, the possibility of modernizing production, mastering the production of new types of products, its mass distribution and market sales. Main Part Such scientists as F.Kotler, J.Schumpeter, P.Drucker, G.Mensch, M.Porter, T.Kuhn were engaged in the study of innovative development as a scientific research. Among the Russian researchers in this area, one can single out such scientists as A.G. Gryaznova, L.I. Agalkina, A.A. Dynkina, V.V. Kulikova, I.N. Myslyaeva. Our domestic scientists Olimjonov A.U., Voronin S. Gulyamov S.S., Abdullaev A.M. are also dealing with issues related to the features of the innovative development of the economy.2 Today, most countries of the world set themselves the task of transitioning to an innovative economy based on knowledge, in which the creation and use of the results of scientific and technical activities are the main conditions for sustainable economic growth. Therefore, in sovereign Uzbekistan, since the first days of independence, much attention has been paid to the development of domestic science, leading scientific schools and innovative research. These processes are regulated at the legislative level, which can be seen in a number of laws and decrees of the President of the Republic of Uzbekistan, and relevant government decrees adopted in the field of innovative development. After achieving independence, one of the first regulatory documents in this area are the Decree of the President of the Republic of Uzbekistan "On state support for science and the development of innovation" dated July 8, 1992 and the Resolution of the Cabinet of Ministers "On measures for state support for the development of science and innovation" dated 21 July 1992, which created the basis for stimulating the country's innovative development. In accordance with the Decree of the President of Uzbekistan "On measures to improve the coordination and management of the development of science and technology" dated August 7, 2006, reforms in the field of management and financing of domestic science, focusing its efforts on priority areas for the country were continued. Thus, the Decree of the President of the Republic of Uzbekistan “On additional measures to stimulate the introduction of innovative projects and technologies into production” dated July 15, 2008, was of great importance for the development of science and innovation, in accordance with which structural reforms were carried out in the system research management. [3] The gradual development of the science management system made it possible to improve the mechanism for promoting research: from fundamental and applied developments to innovative work aimed at their practical application. Annual republican fairs of innovative ideas, technologies and projects have become one of the important tools for the implementation, as well as commercialization of research results, ensuring a closer connection between science and production, manufacturers of 1 Message of the President of the Republic of Uzbekistan to the Oliy Majlis of December 22, 2017. 2 Mukumova N. N., Abdukhalikov Zh.A. “Peculiarities of innovative development of Uzbekistan” . Problems of architecture and construction (Scientific and technical magazine), 2022, № 1(Part 2), p.122-124 American Journal of Business Management, Economics and Banking Volume 8, Jan., 2023 P a g e | 98 www.americanjournal.org innovative products and its consumers. In the recent years, more than 4,000 innovative ideas, developments and technologies have been demonstrated at the fairs. More than 3 thousand contracts were signed with a total value of more than 110 billion soums. As a result, more than 1.0 trillion rubles worth of new products were produced. soums. Particular attention is paid to the creation of new research and innovation centers. So. For example, over the past 5 years, a number of scientific innovative institutions of a new type have been created in Uzbekistan: the Interdepartmental Center for Genomics and Informatics, the International Institute of Solar Energy with the participation of the Asian Development Bank, the educational and scientific center of high technologies, created jointly with the University of Cambridge, the Uzbek-Japanese Youth Innovation Center at the Tashkent State Technical University named after Islam Karimov. In order to train personnel for the innovative economy, a number of branches of leading universities in our country have been created and are actively operating. Results and Discussion In order to accelerate the development of the country based on modern achievements of world science, innovative ideas, developments and technologies, as well as the consistent implementation of the tasks identified by the Action Strategy in five priority areas of development of the Republic of Uzbekistan in 2017 - 2021, the Strategy for Innovative Development of the Republic of Uzbekistan for 2019 was approved - 2021 years. [2] The main objectives of the Strategy to achieve the main goal: 1. Entry of the Republic of Uzbekistan by 2030 into the 50 leading countries of the world according to the rating of the Global Innovation Index; 2. Improving the quality and coverage of education at all levels, developing the system of continuous education, ensuring the flexibility of the training system, based on the needs of the economy; 3.Strengthening the scientific potential and efficiency of scientific research and development, creating effective mechanisms for integrating education, science and entrepreneurship for the wide implementation of the results of research, development and technological work; 4. Increasing the investment of public and private funds in innovation, research, development and technological work, the introduction of modern and efficient forms of financing activities in these areas; 6. Ensuring the protection of property rights, creating competitive markets and equal conditions for doing business, developing public-private partnerships; 7. Creation of a sustainable socio-economic infrastructure. As a result of the implementation of the Strategy for Innovative Development of the Republic of Uzbekistan for 2019-2021, great success has been achieved in ensuring and stimulating innovative and technological progress in the sectors of the economy and the social sphere, including agriculture, energy, construction, education, healthcare. In particular: the republic has risen by 36 positions compared to 2015 in the ranking of the Global Innovation Index, which is assessed by 81 indicators; the volume of annual funds allocated from the state budget for innovation and scientific spheres increased by 3 times compared to 2018 and reached 1.5 trillion soums; if in 2018 the number of young scientists was 6.5 thousand, then this figure in 2022 reached 10.8 thousand people, that is, an increase of one and a half times is ensured; American Journal of Business Management, Economics and Banking Volume 8, Jan., 2023 P a g e | 99 www.americanjournal.org over the past four years, the number of specialized institutions for financing innovative activities (innovation funds, venture organizations and others) has been increased to 28 units; held annually since 2018, the International Week of Innovative Ideas – Innoweek.uz is turning into an innovative technology platform that brings together foreign scientific and innovation centers, investment funds, technology agencies, technology parks and business incubators on the way to one goal. At the same time, the degree of commercialization of scientific and innovative developments, the level of cooperation between science, education and industry in the real sector of the economy remain relatively low. Summing up the reasoning, it is possible to interpret innovative development region as a socio-economic process, which is based on the formation of a regional innovation system capable of increasing innovative potential of the region and its implementation through the creation of innovative goods and services. The innovative development of the region is based on the following principles: – innovative development of the region is carried out in the conditions of the regional innovation environment; – the process of innovative development of the region is formalized by building regional innovation system; - the basis of the innovative development of the region is the ability for innovative thinking and perception of both the individual and the whole society; - the effectiveness of the innovative development of the region directly depends on regional innovation culture, i.e. an extended system of motivation innovative activity; - the state innovation policy has a controlling effect on the innovative development of the region; - the ability of the region to innovative development is characterized by the level of regional innovation potential. According to these principles, it is possible to build an organizational and economic model of the innovative development of the region, taking into account the peculiarities territorial and economic interests, the specifics and level of development of the region, the ratio of technological structures of the economy, in order to increase the competitiveness of the economy of the region as a whole. Thus, the successful implementation of measures in the field of innovation is possible only on the basis of integration of efforts and ensuring the joint activities of the state, economic sectors, large enterprises, as well as scientists and university employees. By solving these urgent problems, a competitive innovation environment and scientific and production integration will be formed in the country with the mutual interest of the participants in the innovation process - manufacturers, employees of innovative structures and scientists. References 1. Message of the President of the Republic of Uzbekistan to the Oliy Majlis of December 22, 2017. 2.Decree of the President of the Republic of Uzbekistan "On approval of the strategy for innovative development of the Republic of Uzbekistan for 2019 - 2021" dated September 21, 2018 No. 5544 3. Decree of the President of the Republic of Uzbekistan "On state support of science and development of innovation activity" dated July 8, 1992 American Journal of Business Management, Economics and Banking Volume 8, Jan., 2023 P a g e | 100 www.americanjournal.org 4. Decree of the President of the Republic of Uzbekistan “On additional measures to improve the mechanisms for introducing innovations in industries and sectors of the economy” dated 07.05.2018, PP-3698 5. Salikhov Sh. In Uzbekistan, an effective mechanism for introducing scientific developments into the real sector of the economy is being developed. Electronic resource: http://uzscience.uz/ru/linkpages/view/id/2. 6. Mukumova N. N., Abdukhalikov Zh.A. “Peculiarities of innovative development of Uzbekistan” . Problems of architecture and construction (Scientific and technical magazine), 2022, № 1(Part 2), p.122-124 7.http://uza.uz/ru/politics/shavkat-mirziyeev-formirovanie-u-nashego-naroda-innovatsionn-02-12- 2017. 8. https://mfa.uz/ru/?VOICE=Y