IT Park Uzbekistan inaugurated its representative office in Riyadh on December 16, marking a milestone in strengthening the partnership between Uzbekistan and Saudi Arabia in the field of information technology. The ceremony took place at The Garage, an innovative space in Riyadh, with the support of Plug and Play Riyadh.
Sherzod Shermatov, Uzbekistan's Minister of Digital Technologies, addressed the gathering, highlighting the rapid growth of bilateral ties between the innovation ecosystems of both nations.
"Bilateral ties between the innovation ecosystems of Uzbekistan and Saudi Arabia are rapidly gaining momentum, reflecting the growing interest of partners from the MENA region in the dynamically developing technology sector of our country," Shermatov remarked.
He added that such initiatives contribute not only to strengthening economic cooperation but also to the creation of new job opportunities and the professional growth of local specialists.
Ambassador Extraordinary and Plenipotentiary of Uzbekistan to Saudi Arabia, Nodirjon Turgunov, also welcomed the attendees, emphasizing the importance of the new office in deepening cooperation between the two countries. Farkhod Ibragimov, CEO of IT Park, echoed these sentiments in his speech, calling the opening of the Riyadh office a "new horizon" for cooperation.
"We are confident that this step will become a catalyst for deepening the partnership, accelerate market integration, and open up unique opportunities for both ecosystems," Ibragimov stated.
The event featured notable speakers, including Mohammed Alghamdi, Director of Partnerships at Plug and Play Tech Center, Rajit Nanda, CEO of Datavolt, and Muzaffar Karabayev, founder and investor of kpi.com, zip24.com, and Financial IT.
Rajit Nanda highlighted the potential of Uzbekistan's technology sector, noting, "Uzbekistan’s technology sector is rapidly gaining momentum, and we at DataVolt have seen this growth firsthand by investing in the construction of high-capacity green data centers. This is a clear example of the level and dynamics of the country’s development, which demonstrates its readiness to become a key tech hub globally."
Attendees were also introduced to key programs supporting Uzbekistan's IT sector, including the thriving startup ecosystem and the favorable conditions for their growth. This year, IT Park Uzbekistan presented the country's startup ecosystem at BIBAN-2024, where 12 startups were showcased. The Uzbekistan Tech Conference and pitch sessions for foreign startups held in Riyadh significantly raised Saudi investors' interest in Uzbek projects.
The partnership between Uzbekistan and Saudi Arabia is further strengthened through joint ventures, such as the construction of Green Data Centers with DataVolt (Vision Invest holding), which plans a $5bn investment in the project.
The new representative office will foster cooperation in digital technologies, facilitate the exchange of experience, and support innovative projects. It will also create opportunities for Uzbek companies to expand their presence on the global stage.
The office will serve as a bridge to enhance cooperation between the innovative ecosystems of both nations and offer several opportunities:
- Simplified access to the Central Asian market, with a population of over 80mn, for GCC startups through Uzbekistan;
- Support for Uzbek startups entering the GCC market, which has a population of over 60mn;
- Co-investments in pre-seed and seed stages for promising startups;
- Cost reduction for GCC-based IT companies through back office operations in Uzbekistan.
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