Uzbekistan expects to earn $5 bln from export of IT services

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Uzbekistan intends to increase the export of IT outsourcing to $5 billion and attract up to 300,000 people to the industry by 2030. This was stated in an interview with the portal "Tne IntelliNews" by the Minister of Digital Technologies of Uzbekistan, Sherzod Shermatov, Eurasia Today reports.

Tashkent is confidently expanding the export potential of its IT industry, demonstrating impressive growth dynamics, and in 2022, revenues from IT outsourcing tripled, exceeding $300 million, said Shermatov.

Moreover, over the past four years, this indicator has doubled annually.

"Such results allow Uzbekistan to aspire to the status of a major international IT outsourcing center capable of competing with recognized hubs such as Belarus, India, Ukraine, and Romania. If previously highly qualified IT specialists from Uzbekistan went abroad to work for industry giants, then in recent years, the reverse process has been observed," emphasized the minister.

As a result of reforms initiated by the President of Uzbekistan, Shavkat Mirziyoyev, aimed at creating favorable conditions for the development of the digital economy, many Uzbek IT talents are returning home and opening their own companies.

Furthermore, foreign IT firms are actively coming to the country - their number has increased by 7.5 times in the last two years, noted Shermatov.

The Uzbekistan government is conducting targeted work to form a full-fledged IT ecosystem, investing in both education and training of personnel, and creating preferential conditions for industry companies.

In particular, IT companies are completely exempt from corporate taxes, and the income tax for their employees has been reduced to 5%.

The measures taken to legalize the IT business have allowed many Uzbek companies to emerge from the "shadow" - currently, about 6,000 specialists officially work in this sector. At the same time, the United States is the main export market for Uzbek IT services, accounting for half of the total volume.

It was previously announced that by the end of 2023, the volume of services exports by IT Park residents reached $344 million.

March 14, 2024