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

Kalit so'zlar: 
jurnal, janr, gazeta, tematika, adabiy, badiiy, publitsistika. 
Ключевые слова
: журнал, жанр, газета, тематический, литературный, 
художественный, публицистика. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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Science and Education in Karakalpakstan. 2023 №2/1 ISSN 2181-9203 
154 
CURRENT PROBLEMS IN IMPROVING THE PRACTICE OF FINANCING 
INVESTMENTS IN THE FIELD OF TOURISM 
 
Matkabulova D.K. 
"Tourism VA service"
 
Summary:
The article analyzes the changes in the global tourism industry in recent years, 
the impact on it of the COVID-19 pandemic and on the development of tourism in Uzbekistan, as 
well as reforms in Uzbekistan in the process of overcoming the coronavirus crisis and developed 
practical recommendations for the development of countries' exports by further increasing the 
volume of exports tourist services. 
Keywords:
 
Tourism, tourism industry, export, travel services, COVID-19 pandemic, crisis, 
privilege, tourist. 
Introduction 
According to the analyzes carried out on the factors affecting the practice of financing 
investment expenses of the subjects of the tourism industry, showed the presence of a number of 
pressing problems associated with improving the practice of financing investments in the tourism 
industry in our republic. One of these pressing problems in this regard is the lack of funding 
sources. 
The low level of development of the securities market in our republic, the weak cash flow in 
the initiators of investments in the tourism sector serve to deepen the problem of lack of sources of 
financing. 
The low level of development of the securities market in the Republic of Uzbekistan makes 
it impossible to increase the volume of financing of investments at the expense of money received 
by selling securities. Therefore, the new Uzbekistan development strategy, approved by the decree 
of the president of the Republic of Uzbekistan No. 60 of January 28, 2022, was tasked with bringing 
the annual volume of turnover in the securities market from the current US $ 200 million to $ 7 
billion in the next five years. To do this, it is tasked with the privatization of state-owned 
enterprises, the completion of transformational processes in commercial banks with a state share, to 
bring the share of the private sector in the bank's assets to 60 percent by the end of 2026. 
The above cases, ultimately, should lead to the development of the capital market and an 
improvement in the atmosphere of interbank competition. This leads to an improvement in the 
financial resource supply of investment projects. 
The weakness of the cash flow of economic entities operating in the field of tourism is 
explained by the fact that the balance of funds in the volume of current assets is small. This, in turn, 
is explained by the fact that in these subjects the proportionality between the input and the output of 
funds is not ensured. 
In corporate finance, the Real valuation of capital also includes the time and risk factors 
used to raise funds . 
At the same time, it is important to determine the valuation of capital or its individual 
components, at least the estimate, despite the fact that there are such complexities, objective and 
subjective factors that reduce the degree of accuracy, as the focus is required. 
Another of the pressing problems associated with improving the practice of financing 
investments in the tourism sector is the lack of improvement in risk management practices 
associated with investment projects. 
The fact that investment projects do not work at full capacity leads to the emergence of 
serious differences between the indicators specified in their feasibility study and the indicators in 

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