The business environment today is undergoing significant changes. Technology is rapidly evolving, disrupting industries and creating boundaryless opportunities. The set of stakeholders has expanded to include communities, the environment, and employees. These changes necessitate a fresh approach to corporate governance. Start-ups, especially those that are technology-driven and growing quickly, require a different type of governance compared to stable, slowly growing behemoths. These companies often pivot their business models multiple times a year. There is significant employee turnover, and sometimes even the founders themselves. Investors tend to be aggressive and ambitious, often unwilling to take a back seat in matters of corporate governance.

This paper analyzes the implementation of the International Corporate Governance Network (ICGN) Principles into the corporate governance system of Uzbek joint-stock companies, with a focus on the pharmaceutical enterprise Dori-Darmon JSC. The study identifies the alignment between ICGN’s global governance standards and Uzbekistan’s national reforms since 2015, particularly through the Presidential Decree No. PQ-4720 and the Corporate Governance Code. A comparative analysis demonstrates the gradual institutionalization of transparency, shareholder rights, board accountability, and executive remuneration standards in Dori-Darmon JSC. The results indicate that Uzbekistan’s corporate governance system is evolving toward global best practices, though further progress is required in independent board oversight, sustainability reporting, and investor engagement.

Over the past decade, Uzbekistan has undergone a transformative shift in governance, moving from a centralized administrative model to a more accountable, transparent, and citizen-oriented approach. Under the leadership of President Shavkat Mirziyoyev, the country has prioritized institutional reform, decentralization, digital governance, and civil society engagement as key pillars of sustainable development. This article analyzes the evolution of governance in Uzbekistan, examining recent presidential initiatives, structural reforms, and the integration of participatory governance mechanisms. It argues that continued progress in governance is crucial for achieving inclusive and sustainable development across the republic.

This study examines the economic and governance implications of fiduciary duties imposed on supervisory board members and directors of state-owned enterprises (SOEs). The paper conceptualizes fiduciary duties as an institutional mechanism designed to mitigate agency conflicts, align managerial incentives, and enhance asset management efficiency. Particular attention is paid to conflict-of-interest risks, accountability structures, and the interaction between public objectives and corporate decision-making. The analysis demonstrates that the effectiveness of fiduciary regulation depends not only on formal legal codification but also on the practical delineation of discretion, liability, and governance safeguards. The findings contribute to the understanding of fiduciary governance models in transitional and state-influenced corporate systems.

This paper provides a comprehensive account of the importance of effective governance and collaborative governance in building national tourism potential. It highlights key principles and best practices for successful tourism development, including strategic planning, stakeholder engagement, resource management, quality assurance, marketing and promotion. The commentary also emphasizes the importance of collaborative governance systems such as multi-stakeholder partnerships, participatory decision-making, capacity building, conflict resolution and adaptive management in promoting sustainable growth and maximizing socio-economic benefits in the tourism sector. will give. Through case studies and best practices, the commentary shows how countries can use effective governance and cooperative governance to build sustainable and competitive tourism industries that enrich local communities, preserve cultural and natural heritage, and offer unforgettable experiences to visitors.

This study explores the ethical governance of artificial intelligence (AI) in electoral media systems, emphasizing how algorithmic design and decision-making processes can either strengthen or weaken democratic integrity. As AI technologies increasingly shape voter behavior through content personalization, automated fact-checking, and sentiment prediction, their governance becomes a crucial dimension of digital democracy. By analyzing global best practices and emerging ethical frameworks, the study identifies the challenges of algorithmic opacity, political manipulation, and accountability gaps in AI-driven electoral communication. The findings propose a multi-layered governance model that integrates human oversight, algorithmic transparency, and civic participation to democratize AI systems in electoral contexts. This conceptual framework contributes to rethinking media ethics and political communication in the era of algorithmic decision-making

This article provides a comprehensive analysis of the current state and development prospects of ESG (Environmental, Social, Governance) reporting in Uzbekistan’s corporate sector. The study examines institutional and regulatory frameworks shaping ESG practices and assesses the alignment of national reporting approaches with international standards such as GRI, IFRS S1/S2, and ESRS. Through a comparative analysis of state-owned and private enterprises, key drivers and constraints affecting the quality and diffusion of non-financial reporting are identified. The findings indicate that despite recent regulatory progress, ESG reporting maturity remains limited and requires systematic improvements in governance structures, data management, and professional capacity. The paper concludes with practical recommendations aimed at enhancing transparency, strengthening investor confidence, and supporting sustainable economic development in Uzbekistan.

This article argues for the relevance and relevance of the research area, analyzes the ongoing reforms in the field of management of enterprises with state participation, in particular, in ensuring the full transition of enterprises with state participation to market conditions, the full application of modern corporate governance methods in the activities of enterprises with state participation, the transition to evaluating the activities of the executive body based on key performance indicators, and the activities of the Supervisory Board – Based on the level of implementation of the principles of corporate governance, ensuring a reduction in the number of state-owned enterprises, as well as on the basis of the research results, the main problems are formulated and directions for further development and improvement of the economic efficiency of state-owned enterprises are substantiated.

This paper examines the conceptual evolution and interdependence of management and governance in modern business organizations. It analyzes how these two elements—though distinct in function—work together to ensure sustainable success in both developed and emerging economies. Using international statistics and global best practices, the study highlights how the integration of effective governance principles with data-driven management systems contributes to innovation, competitiveness, and organizational resilience.

This article examines the enhancement of shareholders’ rights and the improvement of mechanisms protecting these rights in Uzbekistan. It explores the legal framework, institutional safeguards, recent reforms, and challenges in corporate governance. The study highlights the role of minority shareholders, the effectiveness of judicial and regulatory protections, and international best practices. Practical recommendations for further development are provided to strengthen investor confidence and corporate transparency. The findings are relevant for legal experts, investors, policymakers, and corporate managers aiming to foster a more secure and competitive investment climate in Uzbekistan.

the role of humanities in economics may not seem as valuable as some other subjects which have drawn much attention (e.g. finance, architecture and medicine). The disciplines that are “in trend” usually seen as decisive or rewarding. Without going into the underlying reasons why those (above listed) subjects are preferred more, let`s see why humanities are not as preferable as other more common disciplines. The significance of humanities in enhancing tax governance and better attitude towards money is indispensable. In this paper, two angles why prospective students are not picking humanities and why higher education is not offering many courses on humanities will be discussed. Finally, the significance of humanities in terms of fiscal economics of Uzbekistan will be considered with some arguments.

This thesis examines the state and effectiveness of parliamentary oversight in Uzbekistan, a pivotal mechanism for ensuring democratic governance and accountability. Despite significant constitutional provisions for oversight, practical challenges hinder its effectiveness, including limited transparency and institutional capacity. Through a comprehensive review of the existing legal framework and analysis of recent reforms, this study aims to assess how parliamentary oversight functions and identify strategies to enhance its efficiency. Drawing on sources that document both the historical development and current practices of parliamentary oversight, this research underscores the importance of strengthening legal structures and fostering public engagement to improve oversight mechanisms. Findings from the analysis suggest that while there have been advancements in legislative scrutiny and government accountability, substantial reforms are needed to ensure that parliamentary oversight can effectively contribute to a more transparent and accountable governance system in Uzbekistan. The thesis concludes with targeted recommendations for legal reforms and strategic initiatives to enhance the effectiveness of parliamentary oversight, aiming to foster a more robust parliamentary oversight process in the country.

The article analyzes key issues related to improving corporate governance and internal control systems. It examines the institution of independent directors, the activities of audit committees, and digital monitoring mechanisms, all of which play a crucial role in effective risk management and in achieving a company’s strategic objectives. Based on international experience and research (OECD, World Bank, IMF), the study discusses directions for enhancing internal control systems and approaches for minimizing identified deficiencies.

As Artificial Intelligence (AI) transitions from narrow task-optimization to autonomous decision-making in critical infrastructures—notably healthcare, finance, and law—it outpaces existing regulatory frameworks. This paper addresses the burgeoning "accountability gap," a socio-technical phenomenon in which the opacity of deep learning architectures (the "black-box" problem) complicates traditional legal doctrines of negligence and liability. While current discourse emphasizes bias and privacy, this study focuses on the intersection of algorithmic opacity and legal personhood. By synthesizing current jurisprudence with the technical constraints of eXplainable AI (XAI), the research evaluates whether granting AI "electronic personhood" is a viable solution or an ethical scapegoat for developers. Through a multidisciplinary analysis of case law and algorithmic auditing, we propose a "Hybrid Liability Framework" that balances innovation with human-centric safety. Our findings suggest that addressing the accountability gap requires a shift from retroactive litigation to proactive algorithmic governance, ensuring that AI autonomy remains tethered to human institutional responsibility.

Community-Based Tourism (CBT) is increasingly recognized as a sustainable alternative to mass tourism, particularly in rural regions where economic opportunities are limited and cultural and environmental resources are vulnerable. In Uzbekistan, recent tourism reforms and a growing emphasis on rural development have created opportunities for CBT initiatives, although empirical evidence on their effectiveness remains scarce (Abdulkhaeva, 2025; Agzamova, 2025). This study investigates CBT as a pathway to sustainable rural development, focusing on its economic, social, and environmental dimensions. Data were collected through surveys, semi-structured interviews, and document analysis involving local residents, community leaders, and tourism stakeholders. The findings indicate that CBT supports income diversification, job creation, community engagement, and the preservation of cultural and natural heritage. Key challenges include inadequate infrastructure, limited managerial and marketing capacity, restricted financial access, and weak institutional support. Nonetheless, opportunities exist to strengthen CBT through capacity-building programs, improved governance, partnerships with non-governmental organizations, and digital marketing strategies. The study provides practical insights for policymakers and practitioners seeking to promote sustainable rural development in Uzbekistan..

Corruption is one of the most pressing challenges to modern legal systems and public governance. It undermines the integrity of institutions, erodes the rule of law, and impedes socio-economic development. This thesis seeks to explore the legal essence of corruption through the lens of national and international legal norms. The study outlines legal definitions, classifications, causes, and regulatory frameworks aimed at curbing corruption. It also highlights systemic obstacles to enforcement, assesses existing preventive mechanisms, and offers recommendations for enhancing legal effectiveness in combating corrupt practices. Through a doctrinal legal research methodology, this thesis underscores the necessity of aligning anti-corruption efforts with principles of transparency, accountability, and good governance.

Bribery is a pervasive form of corruption that undermines social, economic, and political systems worldwide. This article examines the concept of bribery, its detrimental effects, and explores strategies for combating this unethical practice. By understanding the complexities surrounding bribery and implementing effective measures, societies can work towards fostering transparency, accountability, and ethical governance.

This paper explores the significance of financial control and internal audit services in public sector budget organizations. It identifies key challenges in the current systems and proposes actionable strategies to enhance transparency, accountability, and operational efficiency. The use of digital tools and risk-based auditing frameworks is emphasized as critical to improving governance and fiscal discipline.

The peaceful use of nuclear energy lies at the intersection of science, technology, and international law. While it promises vast benefits in energy generation, medicine, and industry, it also poses significant legal challenges concerning safety, security, and non-proliferation. This article explores the legal dimensions of peaceful nuclear energy by analysing the principal treaties, customary norms, and institutional mechanisms governing its development and control. It argues that international law not only enables States to exercise their right to peaceful use but also imposes stringent duties to prevent harm, ensure safety, and maintain transparency. The study concludes that as nuclear technologies evolve, the legal framework must expand to integrate environmental protection, human rights, and sustainable development into the governance of nuclear activities.

Mirzo Ulugbek (1394–1449) was not only a significant ruler of the Timurid Empire but also an influential astronomer and mathematician whose contributions have had a lasting impact on science. His establishment of the Ulugbek Observatory in Samarkand played a crucial role in the advancement of astronomical knowledge during the 15th century. This article examines Ulugbek's multifaceted life, his dedication to fostering a scientific community, the innovative practices employed at his observatory, and the implications of his work for future generations. Ulugbek’s story illustrates the intersection of science, culture, and governance in the Islamic Golden Age.

This article analyzes the main principles, approaches, and outcomes of economic development and development strategies. It highlights the role of economic growth, social development, human capital, innovation, sustainability, and governance. The article concludes on the effectiveness of development strategies and their adaptability to the economic, social, and environmental conditions of countries. the findings indicate that successful economic development requires a holistic approach, long-term strategic planning, and sustainable socio-economic progress.

The demand for the fulfillment of fiduciary obligations by members of corporate governance bodies forms a new trend that has appeared in the coming years. The concept of fiduciary duties is now entering into the current legislation of the Republic of Uzbekistan. Thus, the members of the Board of Directors and the Supervisory Board who are members of the Board of Directors and the Supervisory Board cannot be deprived of the right to vote on the Board of Directors.

This article examines and compares the national education systems of Canada and Uzbekistan, focusing on structural organization, governance, curriculum, compulsory education, higher education opportunities, and contemporary reforms. By contrasting Canada’s highly decentralized framework with Uzbekistan’s centralized system undergoing modernization, this study highlights key differences in educational philosophy and implementation.

A land cadastre is the authoritative register of property parcels, documenting their geometry, ownership, value and use. Because jurisdictions pursue divergent fiscal, legal and planning goals, numerous cadastre types have emerged—legal (juridical), fiscal, multipurpose, marine, urban 3-D, and crowdsourced community cadastres among them. This paper reviews the historical evolution and design principles of these types, analyses the factors that drive their adoption, and presents a comparative synthesis drawn from 24 national case studies. Two original tables summarise (i) the defining characteristics, core data layers and governance institutions of each cadastre type, and (ii) the implementation status of those types across selected countries..

This article discusses a scientific and theoretical analysis of the conceptual aspects of social justice as a governing principle. Historical and philosophical foundations of social justice, as well as the importance of social justice in the formation of the volume and content of the general social space of social aspirations in society, the formation of certain directions of people’s ideas about freedom and well-being.