Tashkent, Uzbekistan (UzDaily.com) – Uzbekistan is emerging as a new IT hub and a promising destination for outsourcing, offering significant tax incentives and government support to create the most favorable business environment for technology and service companies. To showcase the latest achievements and investment potential to international companies, the Ministry of Digital Technologies and IT Park Uzbekistan is hosting the “Global Business Services Forum 2024” in Tashkent.

The Global Business Services Forum will be a significant event for companies seeking to expand their international presence and explore the vast opportunities for outsourcing in Central Asia. Bringing together over 200 industry leaders and partners, the event will not only highlight Uzbekistan as a leading outsourcing center but also offer unique networking opportunities and valuable insights.

The event commenced with the “Techno Expo 2024” exhibition, where key players in Uzbekistan’s IT and outsourcing sectors are showcased. Participants can learn about their activities, ask questions, and establish outsourcing partnerships.

The official program was opened with a welcome speech by Uzbekistan’s Minister of Digital Technologies, Sherzod Shermatov, who outlined the government’s measures to support IT and outsourcing, stimulate exports, and enhance investment attractiveness.

Representatives of IT Park then presented the country’s conditions, business climate, and human resources potential, emphasizing how these factors contribute to company growth and market expansion.

Why Uzbekistan?

The country demonstrates dynamic economic growth and a stable geopolitical situation, offering companies unprecedented tax benefits, customs preferences, and unique support programs backed by developed infrastructure. Significant reforms initiated in 2017 have led to substantial changes, including free currency operations, the elimination of bureaucratic hurdles for business simplification, and the creation of a robust legal framework based on best international practices, aiming to increase IT service exports to US$5 billion by the end of 2030.

Since 2017, IT service and SaaS product exports have surged from US$0.7 million to US$344 million in 2023. Uzbekistan’s technological landscape boasts over 2,300 IT Park residents, including more than 500 foreign capital companies engaged in everything from software development to providing outsourcing services. Among these, over 700 companies focus on exporting IT services and solutions.

The “Global Business Services Forum” provides international ITES companies with a unique opportunity to explore Uzbekistan’s technological landscape, plan office openings, and enter new markets. This initiative aims to attract more companies to Uzbekistan, increase exports for IT Park residents, create jobs, and stimulate economic growth, contributing to the country’s development.

Discussion Topics:

- Tax Benefits: 0% corporate, social, property, and land taxes, along with other forms of support for IT and BPO companies.

- Qualified Workforce: A young and dynamic labor force from a population of 21 million, offering diverse and multilingual human resources, including over 5 million English speakers.

- Enterprise Uzbekistan: A new International Center for Digital Technologies with a special legal regime, based on the experience of technologically advanced countries like the USA, UAE, and Ireland.

- IT Visa: A multiple-entry visa valid for up to 3 years for investors, company founders, and IT specialists.

- Ease of Doing Business: Quick setup within 3-6 weeks with full support for a successful start.

- Zero Risk Program: Free office space for 12 months plus salary compensation for employees and costs related to their professional development.

- Benefits for Non-IT Service Companies: Access to the Central Asian market through IT Park residency.

As part of the program, IT Park residents from the USA and Europe, including Staffvirtual, TBC Bank Group PLC, and DIONYSOS, will share their success stories of working in Uzbekistan and discuss the country’s advantages compared to other outsourcing destinations.

At the end of the event, participants will have the opportunity to visit local IT educational institutions and ITES companies. They will be able to observe the work of local residents firsthand, meet with specialists, and discuss future collaboration opportunities.