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    Uzbekistan World Economics

    Uzbekistan targets regional IT hub status by 2030

    Uzbekistan targets regional IT hub status by 2030

    During the the third Tashkent International Investment Forum 2024 pitch session on May 3, Uzbekistan unveiled ambitious plans to establish itself as a regional IT hub by 2030. Moderated by Ruzmetova Kamolakhon, Head of Department at IT Park, the session outlined strategic initiatives to propel the nation's IT sector to new heights.

    Photo: Farkhod Ibragimov, Director of IT-Park Uzbekistan
    Source: TIIF-2024

    Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, underscored recent investments as pivotal to this vision: 

    "Yesterday marked a significant event—the commencement of construction on a $5 bn green data center by Data Vault, a major foreign direct investment project. We are fostering an enabling environment for IT companies and initiating a 'Zero Risk' program to mitigate risks associated with establishing and managing offices in Uzbekistan."

    Farkhod Ibragimov, Director of IT-Park Uzbekistan, highlighted the project's vast scope: 

    "Currently, nearly 2,000 companies are registered in IT-Park. Registration does not necessitate physical presence in the park, with most companies being export-oriented."

    The Enterprise Uzbekistan project, slated for launch by year-end, aims to afford foreign companies the familiar regulatory environment of their home countries, covering areas such as data privacy, intellectual property, banking, currency regulation, taxation, and labor relations."

    Gulnoza Sultanova, Head of Department at IT-Park, stressed the importance of legal support: 

    "Initiating a business in Uzbekistan entails selecting the appropriate legal structure, preparing documentation, and estimating initial expenses, including rent and salaries."

    The session set forth objectives to bolster exports of IT services and software products to  $5 bn by 2030.

    It served as a pivotal platform to explore investment projects and opportunities in Uzbekistan's burgeoning IT sector, showcasing the nation's remarkable strides in IT infrastructure development.

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    03.05.2024, 22:54   Comments (0)   1383
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