Uzbekistan hopes to become the Central Asian IT hub and boost IT service exports to $5bn by 2030, according to a report by the World Bank Uzbekistan released on March 19.

As reported by bne IntelliNews, Uzbekistan’s ICT sector is flourishing as Uzbek IT outsourcing exports have grown exponentially in recent years, albeit from a low base. The Uzbek National Development Strategy outlines several key objectives to achieve the ambitious goal by 2030.

Uzbekistan's burgeoning IT industry has witnessed a surge in exports, reaching an $344mn in 2023, marking a substantial leap from $140mn in 2022, Daryo reported.

The country's strategic goals include boosting annual IT service exports to $5bn, attracting over 1,000 foreign IT firms to set up operations, and creating job opportunities for 300,000 young individuals in the IT domain.

In support of these endeavours, the World Bank is partnering with Uzbekistan's Ministry of Digital Technologies (ICT) to finance the "Digital Inclusion in Uzbekistan" project.

Spearheaded by Uzbekistan’s IT Park, this project is designed to provide training for thousands of young residents, particularly those from rural and remote areas, aiming to integrate them into the burgeoning IT industry.

Uzbekistan is pushing the boat out with the launch of Uzbekistan's inaugural Offshore Outsourcing Tour to bring the message to international markets and plans a string of conferences in the coming year. The first event saw participation from delegates of over 30 countries and focused on the prospects for initiating businesses in Tashkent and other regions, facilitated through IT-Park's platforms.

Key figures such as the Minister of Digital Technologies, Sherzod Shermatov, and Marco Mantovanelli, the World Bank's representative in Uzbekistan, were present at the March 18 event, underscoring the burgeoning potential of the nation's IT sector. Mantovanelli elaborated on the compelling reasons for investors to delve into Uzbekistan's digital economy and the World Bank's commitment to aiding the Uzbek government in this transformative journey.

IT Park growing

In January, 75 companies joined the ranks of IT Park residents, with an even more accelerated growth rate witnessed in February, welcoming 134 new companies. This surge propelled the total number of resident companies to 1,828 by the end of February 2024, IT Park Uzbekistan reported on March 13.

Educational companies spearheaded the list of new residents, numbering 49, underscoring the heightened demand for IT training and skill development. Following closely behind were software development companies (29) and service companies (28), indicating a rising interest in high-quality IT services in Uzbekistan. The stability in the proportion of business process outsourcing (BPO) companies among new residents further solidifies IT Park's appeal as a hub for diverse IT activities.

Among the new residents, a notable trend emerged with 49 companies being export-oriented, while 24 boasted foreign capital participation. This diversity is reflected in the geographic distribution of foreign companies, including representatives from Russia, the United States, South Korea, Germany, the United Kingdom, India, Cyprus, Egypt, Pakistan and Tajikistan.

Of significance is the addition of Silkroad Software, a company with American capital, specializing in software development and technical support. Another highlight is Voltiva, a nominee for the mGovAward, further elevating IT Park's status as a centre for innovation and recognition.