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Toyirova Marvarid
The 1
st
year student of Corporate Governance Faculty
Tashkent State University Economics
THE ROLE OF DIGITAL ECONOMY IN UZBEKISTAN
From the advent of the Internet our whole world is associated with it. Now we do shopping
online, we run and promote our business by using browsers as well as applications. Moreover, most
of the bank and tax operations are being carried out with electronic devises. Nowadays we are
coming across with words with prefix ‘e’ which means online version such as e-commerce, e-
business, e-government, e-learning and others. The most interesting side is analyzing impact of
digital economy on developing countries in order to be much informed about our benefits from it.
Digital economy is defined as an economy that focuses on digital technologies, i.e. it is based on
digital and computing technologies. It essentially covers all business, economic, social, cultural etc.
activities that are supported by the web and other digital communication technologies.
The term was first coined in a book “The Digital Economy: Promise and Peril in the Age of
Networked Intelligence” by author Don Tapscott in 1995.
There are three main components of this economy, namely,
e-business
e-business infrastructure
e-commerce
In the last 15 years, we have seen the tremendous growth of digital platforms and their influence
on our lives. Now consumers are influenced by things they see on social media (Facebook, Twitter,
Instagram) and other such popular websites (youtube etc).
According to opinions of Kazakhstan researchers:” Modern achievements in development of
global information and communication technologies or the Internet technologies led to formation of
the global electronic environment for economic activity that, in turn, opened new opportunities for
organizational and institutional design in business and other spheres of social and economic activity
of the person. It is acknowledged that ICT has the crucial role in connecting people and
communities; increasing innovation and productivity; improving standards of living; enhancing
competitiveness and economic and societal modernization, bridging economic and social divides as
well as reducing poverty across the globe”
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.
If we turn to assessing the role of digital economy in transition economies, we can say that it
can enhance lifestyle of citizens of the developing countries. Now many this type of countries are
trying to have bigger share in e-commerce globally and regionally, as it can simplify market
operations ,widen the options for costumers and make products easily reachable for every
inhabitant. Unfortunately, e-commerce is sphere which is still underdeveloped in Uzbekistan and
there are not any official numbers that can indicate electronic trading on the market value or
revenue. Nevertheless, in May 2018,
the President of The Uzbekistan Shavkat Mirziyoyev signed a
decree “On measures for the accelerated development of e-commerce", and approved the "Program
for the Development of E-commerce in Uzbekistan for 2018-2021". As a result, the market is
expected to grow significantly in the next few years.
“According to WTO, the Internet is revolutionizing the distribution of tourism information
and sales. An increasing proportion of Internet users are buying on–line and tourism will gain a
larger and larger share of the online commerce market”
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. If we evaluate the significance of the
Internet in tourism, we can say that in current days we are used to booking in advance rooms in
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G. M. K. Berdykulova, A. I. U. Sailov, S. Y. K. Kaliazhdarova, and E. B. U. Berdykulov, “The Emerging Digital
Economy: Case of Kazakhstan,” Procedia - Soc. Behav. Sci., vol. 109, pp. 1287–1291, 2014.
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S. B. Hojeghan and A. N. Esfangareh, “Digital economy and tourism impacts, influences and challenges,” Procedia -
Soc. Behav. Sci., vol. 19, pp. 308–316, 2011.
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hotels as well as tickets by using online transactions and payments. Therefore, now people have
huge demand for credit cards which are accepted internationally that ,in turn, can decrease need for
money in the form of physical banknotes and coins.
With initiative of the President of the Republic of Uzbekistan Shavkat Mirziyoyev new type
of payment card has been introduced to society in recent days that was named “Humo”. “Humo” is
designed for Improve quick money transactions and operations.
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