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It was noted that the priorities of the state economic policy Increase the limited annual number of employees from 50 to
in the field of further liberalization of the foreign exchange 200 when considering construction organizations as small
market are as follows: businesses [2].
First, to ensure full realization of the right of legal entities At the same time, one of the main tasks is to ensure the
and individuals to freely buy and sell foreign currency and to compliance of accounting data with international standards.
freely dispose of their funds at will; In this regard, a number of normative and legal documents
are being developed in the country. In particular, their
Secondly, the use of only market mechanisms in improvement is taking into account the harmonization of
determining the exchange rate of the national currency
national accounting standards with IFRS [3].
against foreign currency;
It is obvious that in the liberalization and diversification of
Third, to increase the role of market instruments in the use monetary policy in our country, the role of monetary
of foreign exchange resources, to create a level playing field
relations based on internal principles is important. It is
for all economic entities in the foreign exchange market, to appropriate for us to focus on the concept of diversification
increase the stimulating role of monetary policy in in the context of our research. As a result of diversification in
developing exports in non-traditional sectors, strengthening our country there is a wide range of complexes (For example,
regional and international economic cooperation;
agro-industrial complex, forest industry) that produce a
Fourth, improving the business and investment climate variety of goods, services and are engaged in production,
which will serve to attract foreign direct investment, supply and development, and this is called production
knowledge and technology to all sectors of the economy to diversification. In addition to its credit diversification. there
directly stimulate the production of quality jobs and high is also a view (in which the capital provided as a loan is
value-added products; distributed among various objects in order to reduce risk
and obtain high returns). Such diversification is associated
Fifth, the implementation of a strict monetary policy aimed with the process of cross-sectoral capital concentration and
at ensuring the stability of the national currency, the active increasing inter-enterprise internal instability.
and adaptive use of monetary instruments, the development Diversification processes began to develop rapidly, especially
of the government securities market, as well as open market from the mid-1950s. One of the main reasons for this is that
operations and operations to pledge government securities the acceleration of scientific and technological progress
to bank liquidity;
during this period has led to an intensification of competition
Sixth, to prevent excessive growth of the money supply by between enterprises and firms. As a result, the profit margins
coordinating monetary and fiscal policies and ensuring the of enterprises have become relatively equal, and the sources
balance of the state budget; of specialization to increase production efficiency have
become relatively equal, and the sources of specialization to
Seventh, to increase the resilience of the banking system and
increase production efficiency have become relatively equal.
its risk tolerance, including through the application of In this regard, it can be said that the need to implement
effective measures aimed at mitigating the possible negative diversification processes was initially manifested at the level
effects of liberalization of monetary policy;
of micro-enterprises, firms and companies. It was from this
Eighth, to take the necessary measures for state support for period that the economic content and essence, goals and
the enterprises of the basic industries to operate effectively directions of diversification began to be studied in the
in the new conditions of monetary policy; economic literature [4].
The Ninth of that is that the implementation of targeted Since the word diversification is a modern term that began to
measures for comprehensive social support that will reduce be used in our country at a time when the current innovative
the negative consequences of the liberalization of foreign economy is developing, we need to explain its essence more
exchange policy on the living standards of vulnerable deeply. However, a correct understanding of the meaning of
groups. this word, its application in practice can increase the
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efficiency of any legal entity.
From the above-mentioned priorities, it is clear that in our
country there is a relationship of international agreements "Diversification" is derived from the Latin word
on the basis of tax legislation. Application of international (diversificatio), which means change, diversity, giving
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agreements of the Republic of Uzbekistan on taxation and something a multifaceted, combined, multidisciplinary tone.
general norms of international tax law shall be carried out in what is diversification? "Diversification" (Lat. Diversi fi catio
accordance with the procedure established by this Article - change, diversity) - the expansion and renewal of the range
[1].
of activities and products of enterprises (associations).
In order to deepen the structural reforms clearly defined in Diversification is done for the purpose of achieving high
the Action Strategy, increase the competitiveness of the efficiency, economic profit, liquidation of bankruptcy and
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national economy through the modernization and other purposes.
diversification of key sectors, the following tasks are Diversification is the expansion of the range of goods and
envisaged.
services in a firm or geographical region [5].

6 Decree of the President of the Republic of Uzbekistan dated 7 Dictionary of foreign words. M., «Slavyanskiy dom knigi», 1998. -
September 2, 2017 PF-5177 "On priority measures to liberalize the 509 p.
exchange rate." 8 https://qomus.info/encyclopedia/cat-d/diversifikatsiya-uz/.

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