Fostering collaborative innovation through Public-Private Partnerships in Uzbekistan: challenges and opportunities for future growth

Economic Annals-XXI: Volume 210, Issue (7-8), Pages: 10-16

Citation information
Shavkatov, N., Raimjanova, M., Mamatov, B., Alikulov, M., Khoshimov, S., & Zokirova, F. (2024). Fostering collaborative innovation through Public-Private Partnerships in Uzbekistan: challenges and opportunities for future growth. Economic Annals-XXI, 210(7-8), 10-16. doi: https://doi.org/10.21003/ea.V210-02

Navruzbek Shavkatov
PhD (Economics),
Department of Corporate Finance and Securities,
Tashkent State University of Economics
49 Islam Karimov Str., Tashkent, 100066, Uzbekistan
n.shavkatov@tsue.uz
ORCID ID: https://orcid.org/0000-0003-1305-2507

Madina Raimjanova
PhD (Economics),
Department of Valuation and Investments,
Tashkent State University of Economics
49 Islam Karimov Str., Tashkent, 100066, Uzbekistan
m.raimjanova@tsue.uz
ORCID ID: https://orcid.org/0000-0001-8942-5723

Bakhadir Mamatov
PhD (Economics),
Department of Valuation and Investments,
Tashkent State University of Economics
49 Islam Karimov Str., Tashkent, 100066, Uzbekistan
b.mamatov@tsue.uz
ORCID ID: https://orcid.org/0009-0004-6227-5103

Mekhmonali Alikulov
PhD (Economics),
Department of Valuation and Investments,
Tashkent State University of Economics
49 Islam Karimov Str., Tashkent, 100066, Uzbekistan
m.alikulov@tsue.uz
ORCID ID: https://orcid.org/0000-0001-5981-885X

Sobir Khoshimov
PhD (Economics),
Department of Valuation and Investments,
Tashkent State University of Economics
49 Islam Karimov Str., Tashkent, 100066, Uzbekistan
s.khoshimov@tsue.uz
ORCID ID: https://orcid.org/0000-0002-2845-0201

Feruza Zokirova
MA (Economics),
Department of Valuation and Investments,
Tashkent State University of Economics
49 Islam Karimov Str., Tashkent, 100066, Uzbekistan
f.zokirova@tsue.uz
ORCID ID: https://orcid.org/0009-0007-1234-0175

Fostering collaborative innovation through Public-Private Partnerships in Uzbekistan: challenges and opportunities for future growth

Abstract. This study aims to analyze the challenges and opportunities for developing participatory innovation through Public-Private Partnerships (PPPs) in Uzbekistan and its role in the country’s future growth. Adopting a mixed (qualitative-quantitative) approach, data were collected through policy document analysis, semi-structured interviews with 30 key stakeholders (including government officials, private sector managers, and international institutions), and a review of 15 PPP projects in the IT, renewable energy, and urban infrastructure sectors. The findings show that the private sector’s share of innovative projects in Uzbekistan increased from 12% to 21% between 2019 and 2023, but structural challenges such as weak legal frameworks (34% of projects faced legal delays), insufficient institutional capacity (57% of state institutions lack a specialized PPP unit), and limited access to venture capital (only 8% of startups have benefited from PPPs) persist. On the other hand, opportunities such as a 25% growth in foreign investment in the ICT sector (2022), government economic reform programs (such as the 2030 Development Strategy), and international cooperation (such as the partnership with the Asian Development Bank) were identified as key drivers. The results of this research can be used as a roadmap for transition countries with similar economic contexts.

Keywords: Public-Private Partnerships; PPP; Venture Capital; Collaborative Innovation; Economic Growth; Opportunities; Economic Reforms; Uzbekistan; ICT; IT; Renewable Energy; Urban Infrastructure; Stakeholder

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the authors upon request.

DOI: https://doi.org/10.21003/ea.V210-02

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Received 26.03.2024
Received in revised form 29.04.2024
Accepted 11.05.2024
Available online 27.08.2024