HUMAN CAPITAL DEVELOPMENT AND ITS IMPACT ON THE BUSINESS ENVIRONMENT IN UZBEKISTAN: A LITERATURE REVIEW

Аннотация

Human capital development is widely recognized as one of the principal drivers of productivity, innovation,
and global competitiveness. This transition is particularly important for emerging economies, as they seek to shift from
resource-based to knowledge-based development models. Economic reforms in Uzbekistan have fostered the development
of a market-oriented economy, where strategic investment in human capital has become one of the key priorities
of national policy. In today’s dynamic environment, a skilled workforce is a critical factor in creating a favorable business
environment. This study focuses on human capital development in Uzbekistan and its relationship with the private sector
and small and medium-sized enterprises (SMEs). It also examines structural challenges, including skills shortages and
brain drain. Through a review of the existing literature, the study provides an overview of how education, government
policy, and the business sector interact to shape Uzbekistan’s economic future.