Uzbekistan exhibits IT outsourcing potential in New York
NEW YORK, UNITED STATES — Uzbekistan is making a significant push to establish itself as a leading global IT outsourcing hub in the recent Uzbekistan Outsourcing Conference held in New York.
The event, organized by Uzbekistan’s Ministry of Digital Technologies and IT Park Uzbekistan, showcased the country’s rapidly growing IT and outsourcing sector to companies based in the United States.
Sherzod Shermatov, Minister of Digital Technologies, and Farhod Ibragimov, CEO of IT Park, were among the esteemed speakers. They highlighted the advantages of setting up IT operations in Uzbekistan, including the presence of large foreign companies that have already established offices there.
IT Park Uzbekistan, Central Asia’s largest technopark, is spearheading the development of the nation’s IT and outsourcing industry.
The park offers several initiatives to attract foreign investment, such as the Zero Risk program, which provides comprehensive compensation plans, one year of free office space, and up to $5000 for employee training sessions.
Other programs include a One-stop-shop for company registration, an IT Visa for specialists and investors, a Regional Headquarters to promote Uzbekistan as a regional hub, and a Virtual office for ‘office-free’ registration.
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.
“We are pleased to continue strengthening our cooperation with the technology sector of the United States and present the unique opportunities offered by our country,” said Minister Shermatov.
“Uzbekistan is fast positioning itself as a reliable partner ready to compete with recognized IT hubs.”
Uzbekistan boasts a young, educated workforce, with 60% of its 36 million population under the age of 29. Annually, around 30,000 graduates from 65 universities enter the IT field, and over 5 million young people are proficient in English.
The country’s IT export revenue has soared to $344 million in 2023, and the number of IT Park residents with foreign capital has increased almost 20-fold in two years.
The Minister of Digital Technologies and IT Park Uzbekistan hosted similar events in Dubai and London, highlighting opportunities for mutually beneficial collaboration between the United Arab Emirates, the United Kingdom, and Uzbekistan’s tech industries.
