Uzbekistan’s tech exports hit $900Mn, attracting global firms

TASHKENT, UZBEKISTAN — Information and communication technology (ICT) exports from Uzbekistan have exceeded $900 million by the end of 2024, growing the country’s digital economy and establishing it as a regional IT outsourcing hub. After the recently concluded Offshore Outsourcing Conference 2025, which was held in Tashkent, more than 10 international companies have decided to set up their offices in the Central Asian nation.

Foreign investment accelerates in Uzbekistan’s tech sector

The digital technology sector in Uzbekistan has attracted $3 billion in investments, and enterprises with foreign capital have increased by 8.5 times since 2017. The number of IT exporters has increased rapidly from 12 companies in 2017 to 650 in 2024. 

Two new companies, Midas Group from Germany and TRON Enterprise Solution from Romania, applied for the license to establish their offices at the conference itself; these new entries are likely to generate at least 1,000 jobs and add $10 million to exports.

“In 2017, IT Park was just a project on paper — a small startup with Farkhod Ibragimov’s bold vision… Today, we operate 14 branches nationwide, along with 4 representative offices abroad. The revenue of our members stands at 1.6 billion, and we have a network of over 2,600 companies, including nearly 700 foreign enterprises,” said Abdulakhad Kuchkarov, the CEO of IT Park Uzbekistan.

Government incentives drive $4.3Bn ICT market growth

This market growth and government initiatives are key to the development of the market. The ICT market in Uzbekistan has increased by 43.8% year-on-year in 2024 and was UZS 56.17 trillion (approximately US$4.33 billion). Without a doubt, telecommunications services grew by 16% to reach UZS 21 trillion (US$1.62 billion) last year. 

The country has introduced several programs to facilitate the attraction of foreign businesses, such as the Zero Risk program, which provides office space and salary support, and the IT Visa program, which provides three-year multiple-entry visas for IT professionals and investors.

The “Digital Uzbekistan 2030” strategy of the government has successfully placed the country in the international rankings; hence, the AI readiness index has ranked Uzbekistan 17 positions higher. At the moment, more than 20 AI-based projects are running in the country, and another 70 are in development across various sectors.