ANALYSIS OF THE DYNAMICS OF INVESTMENTS DIRECTED TO JOINT VENTURES AND ASSOCIATED ORGANIZATIONS AT “O‘ZBEKNEFTGAZ” JSC AND THEIR ECONOMIC EFFICIENCY
Keywords:
Investments, dynamic analysis, joint ventures, restructuring, investment portfolio, economic efficiency.Abstract
This study presents a comprehensive analysis of the dynamics of investments in joint ventures and associated organizations in the oil and gas sector over the period 2018–2025, with a focus on assessing their economic efficiency and the structural changes in the investment portfolio. The study's methodological framework is based on generally accepted indicators for evaluating investment projects, including Net Present Value (NPV), Profitability Index (PI), Internal Rate of Return (IRR), and Payback Period. The results of the analysis indicate that investment activity is characterized by pronounced volatility and undergoes three key stages of development: a period of high investment activity (2018–2019), a stage of restructuring and optimization (2020–2023), and a phase of recovery in investment growth (from 2024 onward). It has been established that institutional and ownership transformations, particularly the redistribution of shares in strategically important companies, have significantly impacted the structure of investments. Sectoral decomposition revealed the dominant role of large enterprises, which account for the main share of the investment portfolio, alongside the expanding participation of new sectors, including the chemical industry. The scientific novelty of the study lies in identifying patterns of transformation in investment policy amid structural changes in the economy and substantiating priority directions for its improvement. The practical significance of the research is defined by the development of recommendations to diversify the investment portfolio, enhance the efficiency of financial resource utilization, implement innovative technologies, and improve the investment risk management system.
References
Downloads
Published
Issue
Section
License
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation.
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
