ECONOMIC MECHANISMS FOR STIMULATING ENTERPRISES’ DEMAND FOR TECHNOLOGY UNDER INDUSTRY 4.0 CONDITIONS

Abstract

Based on official statistical data for 2016–2025, the demand of Uzbekistan’s industrial
enterprises for technology and the economic mechanisms for stimulating it under the Industry 4.0 paradigm are
analyzed. It is scientifically substantiated that technological renewal does not occur spontaneously but depends
on enterprises’ effective demand for technology, which is conceptualized as the interaction of awareness of
technological benefits, absorptive capacity, and purchasing power. The results indicate that, although capital
investment per employee increased from UZS 6.0 million to UZS 94.5 million during 2016–2025, the share of
high-technology sectors in industrial output declined from 29.2% in 2018 to 20.7% in 2025. This divergence
indicates that, while enterprises continue to demonstrate strong demand for basic capital equipment, demand
for advanced technologies remains insufficiently developed. Based on the empirical analysis, the key priorities
for stimulating technology demand are identified as redirecting investment capital from conventional machinery
and equipment toward advanced technologies, introducing targeted tax incentives, including super-deductions,
strengthening enterprises’ internal absorptive capacity, and fostering a competitive market environment.