Akhmadaliyeva Niholakhon
Doctoral student of the Tashkent Institute of Finance
Email: [email protected]
ORCID: 0000-0002-9020-3754
Abstract. In this article, the importance and importance of investments in human capital for the country’s economy are mentioned. The development of the health and education sectors, which are the main factors of human capital, is the basis for increasing the level of future usefulness of the country’s population. Also, the theoretical foundations of human capital, the theoretical views of economists on human capital are presented. The experiences of one of the developed countries in improving the economy of our country, Singapore, have been analyzed. Singapore ranks high on the Human Capital Index and highlights several factors that have contributed to the successful implementation of Singapore’s education and health strategies. Singapore has shown how upgrading human capital can accelerate development and dramatically reduce poverty in a resource-poor economy. Competent leaders who set high standards for themselves and others and adhere to these standards have been key strategic factors of the Singaporean state, gathering and analyzing information for use in policy development. Singapore has created a meritocratic and largely depoliticized bureaucracy that allows for strategic, visionary policy making and coordinated implementation. Coordinated implementation was considered key to achieving results. It should be noted that national leadership maintained harmony and proactively resolved tensions in a multi-ethnic society. Singapore’s attraction of skilled and unskilled immigrants and mobilization of domestic resources, which play an important role in financing well-designed infrastructure, housing and other important investments, are among the factors that develop the country’s economy. The fact that Singapore is a country that never stops with its achievements, is always open to ideas, eager to learn, ready to introduce innovations and use new technologies is the reason for its high human capital index. Using the strategy developed by Singapore to increase the human capital index is very important for the economy of our country. References are made to the conclusions and proposals developed in the process of analyzing Singapore’s retention of a high point in the human capital index.
Keywords. human capital, human capital factors, human capital index, education system, health care, human capital formation.