SHOULD THE REGULATION OF THE E-COMMERCE MARKET IN THE REPUBLIC OF UZBEKISTAN BE CARRIED OUT BY THE NATIONAL AGENCY FOR PERSPECTIVE PROJECTS OR THE CENTRAL BANK?
DOI:
https://doi.org/10.5281/zenodo.17830935Abstract
In the context of the rapid growth of e-commerce in Uzbekistan, the question arises as to which state body should
be responsible for regulating this sector: a specialized agency focused on digital development or a financial regulator
overseeing payment systems and banking operations. This study provides a comparative analysis of the mandates,
functions, and capacities of the National Agency for Perspective Projects (NAPP) and the Central Bank, examining the
legal framework, practical considerations, and potential risks. Based on an assessment of legislation, official statements,
and international experience, the research concludes that the primary responsibility for regulating e-commerce — in
terms of industry development, innovation, and comprehensive coordination — should rest with NAPP, while the Central
Bank plays a supporting yet essential role in overseeing financial flows, payment systems, and security
Keywords
e-commerce, state regulation, National Agency for Perspective Projects, Central Bank, Uzbekistan, payment systems, fintech, legislation, digital economy, supervisionReferences
1. Law of the Republic of Uzbekistan “On Electronic Commerce” dated September 29, 2022 (ZRU-792).
2. “Regulation of electronic commerce is now handled by NAPP.” — Vzglyad.uz.
3. “Russia and Uzbekistan exchanged experience in the development of e-commerce from the perspective of state
4. regulation.” — Retail Week Central Asia, 2024.
5. Kaluzhsky M. Laws governing the development of institutionalization of e-commerce — analysis of institutional patterns
6. of e-commerce.
7. Kaluzhsky M. Priorities of institutional regulation of e-commerce: Russia and global trends — comparative international
8. analysis.
9. OECD. E-Commerce in the Digital Era: Regulatory Approaches and Policy Trends. OECD Publishing, 2023.
10. UNCTAD. Digital Economy Report 2023: Cross-Border E-Commerce and Data Governance. United Nations, Geneva.
11. WTO. E-Commerce, Trade and the Digital Economy. World Trade Organization, 2022.
12. ITU. Digital Regulation Handbook: E-Commerce and Digital Services. International Telecommunication Union, 2023.
13. World Bank. Developing E-Commerce Ecosystems: Regulatory Practices and Institutional Models. World Bank Group,
Downloads
Published
How to Cite
Issue
Section
