<![CDATA[This study aims to analyze the key determinants of investment attractiveness of oil and gas enterprises within the system of Uzbekneftegaz JSC in the context of global economic transformation and energy transition. The research applies a qualitative descriptive approach combined with a systematic analysis of macroeconomic, mesoeconomic (industry-level), and microeconomic (firm-level) factors influencing investment decisions. Data are obtained from policy documents, institutional reports, and recent academic literature related to the oil and gas sector and investment climate. The results indicate that investment attractiveness is shaped by the interaction of financial stability, technological capability, corporate governance quality, regulatory environment, and risk management effectiveness. The study finds that strengthening corporate transparency, adopting digital and innovative technologies, improving risk management practices, and integrating ESG principles significantly enhance investor confidence. These findings suggest that a comprehensive and multi-level modernization strategy is essential to ensure sustainable competitiveness and long-term investment inflows for oil and gas enterprises under Uzbekneftegaz JSC.]]>
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