Over 40 foreign firms join IT Park Uzbekistan
TASHKENT, UZBEKISTAN — More than 40 foreign companies have become residents of IT Park since the beginning of 2024, highlighting the country’s growing appeal as a global IT hub.
This surge in international interest is part of a broader trend that saw the total number of resident companies in IT Park reach 1,828 by the end of February.
The influx of new residents includes a diverse array of businesses, with educational companies leading the charge. A total of 49 educational firms have joined, underscoring the high demand for IT training and development.
Software development and service companies are also well-represented, with 29 and 28 new residents, respectively. Additionally, the stable presence of 21 new Business Process Outsourcing (BPO) companies indicates a robust interest in Uzbekistan’s IT services sector.
The international composition of these new residents is particularly noteworthy. Among the 41 foreign companies that have joined IT Park this year, there is a significant representation from Russia (8), the United States (6), South Korea (2), and one each from countries including Germany, the United Kingdom, India, Cyprus, Egypt, Pakistan, and Tajikistan.
Residents of IT Park enjoy tax incentives, including exemptions from corporation and social taxes, a reduced income tax rate, and a VAT waiver on imports or services.
This influx of foreign companies into IT Park not only enhances Uzbekistan’s reputation in the global IT landscape but also promises to bring a wealth of knowledge, innovation, and economic benefits to the country.
Last year, IT Park Uzbekistan CEO Farkhad Ibragimov unveiled a plan to increase Uzbekistan’s IT exports to $5 billion by 2030.
This includes hosting a series of Uzbekistan Outsourcing Conferences in collaboration with the Ministry of Digital Technologies at various international locations aimed at promoting the nation’s swiftly expanding IT and outsourcing industry to overseas firms.
Notable recent conferences have taken place in cities such as New York, Dubai, and London.
