Uzbekistan, often regarded as Central Asia's emerging IT hub, is set to host ICT Week 2023 in Tashkent on October 23rd. This event serves as a testament to the country's rapid development in the field of Business Process Outsourcing (BPO) and IT Outsourcing (ITO), showcasing an impressive 82-fold increase in the export of IT services over the last five years.
ICT Week 2023 is poised to bring together an array of participants, including companies, investors, thought leaders, and policymakers. Its primary goal is to delve into the vast opportunities presented by IT outsourcing while providing access to some of the region's most promising investment prospects and potential collaborators.
At the forefront of Uzbekistan's IT and BPO sector growth stands IT Park, a regional hub offering investors unique privileges and incentives to tap into the market's potential. In the first half of 2023 alone, IT Park residents exported services worth $145.3mn, reflecting a steady rise from the $140.9mn achieved in 2022.
One of the key advantages of becoming an IT Park resident is exemption from all corporate taxes. Additionally, founders, investors, and specialists relocating to Uzbekistan can benefit from the preferential IT Visa, granting them up to three years of residence with simplified access to essential services, including healthcare and education.
In 2023, IT Park introduced the "Zero Risk" program, further streamlining the relocation process for foreign businesses. This program offers several enticing advantages, such as:
- Free office space for up to 12 months.
- Assistance with the technical setup of offices.
- Reimbursement of up to 15% of payroll expenses for Uzbekistan citizen employees.
- Reimbursement of up to 50% of costs incurred in attracting international mentors to the country.
Furthermore, the "One Stop Shop" program facilitates the swift establishment of legal entities in Uzbekistan and simplifies the process of opening bank accounts. A "Virtual Office" service allows companies to operate remotely, reducing expenses related to physical office space rent and maintenance while minimizing tax risks.
Several major international companies, including EPAM Systems, Exadel, East Games, Itransition, Vention, Dyninno, Abcbridge, and Qulix, have successfully tapped into Uzbekistan's IT sector. These companies export their services to countries like the USA, the UK, the UAE, as well as various nations in Europe and Asia. Leveraging Uzbekistan's natural advantages, such as a young, dynamic population of over 36mn people and high education and literacy standards, has been key to their success.
The upcoming ICT Week 2023 builds upon the achievements of the Digital Leadership Forum held in Tashkent in July. This earlier event brought together over 300 BPO companies from around the world, setting an ambitious target to increase the export volume of IT services from Uzbekistan to $5bn by 2030.
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