Science and Education in Karakalpakstan issn 2181-9203 Science Magazine chief editor

Science and Education in Karakalpakstan. 2023 №2/1 ISSN 2181-9203 
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rates of loans; low level of credit solvency of entities of the tourism industry). Bank of America. 
Annual Report. 2021. www.bankofamerica.com. 
*underdevelopment of innovation activities of economic entities operating in the field of 
Tourism. 
We have developed the following proposals and recommendations aimed at improving the 
practice of financing investments in the tourism sector: 
1. It is necessary to increase the share of tourism in exports by improving the management 
of the main risks in the financing process of investment projects in the tourism sector (financial 
risks, risks associated with project initiators and project implementation risks) and improving the 
infrastructure of tourism services exports. 
2. It is necessary to increase the volume of financing of infrastructure facilities by applying 
the forms and methods of innovation of investment financing (financing in the form of 
contributions, venture financing, the use of documented letters of credit that are not covered and 
cannot be recalled, bonification of loans) to the practice of financing iinfratuzilma projects in the 
field of Tourism. 
3. In order to increase the effectiveness of the practice of state support of the financing 
process of investment projects in the field of tourism, it is necessary to finance targeted programs 
for the introduction of innovative technologies, provide financial benefits to subjects carrying out 
innovative investment projects, increase the amount of state grants given to the purpose of financing 
fundamental and applied research aimed at 
4. In order to increase the lending volume of investment projects in the field of tourism, it is 
necessary to establish a comprehensive use of existing forms of lending (lending by opening a 
credit line, syndicative lending, one-time lending from a separate loan account). 
5. In the context of a deficit of financial resources, we believe that when financing 
investment projects in the field of tourism, it is advisable to prioritize the organization of the 
effectiveness of Social (new jobs, territory infrastructure), economic (financial economic 
indicators), budget (taxes and other mandatory payments) through a comprehensive assessment 
through a single algorithmic approach. It is permissible to digitize these processes, determine the 
factors that are transparent to everyone in general, determine specific indicators in terms of 
territorial, budgetary, social and economic efficiency of projects, and also effectively use innovative 
developments in this. 
6. In order to improve the practice of economic entities operating in the tourism industry to 
attract long-term financial resources by issuing securities, it is necessary, firstly, to achieve a 
moderate level of inflation (3% per annum) and to promote the investment attractiveness of 
securities issued by enterprises by ending the devaluation of the national currency; secondly, the 
income of investors from long-term securities of