Tashkent, Uzbekistan (UzDaily.com) -- On 24 March, the Tashkent International Investment Forum began its work at the Tashkent City Congress Hall.

The forum was also attended by the Minister for the Development of Information Technologies and Communications Sherzod Shermatov, who spoke about the comprehensive measures for the digital development of Uzbekistan and the opportunities and prospects created for foreign investors, including foreign IT companies.

Today the world is on the threshold of the fourth industrial revolution. With this in mind, large-scale measures are being taken in the republic to move to the stage of development "Industry 4.0". For rapidly developing countries such as the Republic of Uzbekistan, digitalization provides an unprecedented opportunity to find a new engine of growth and modernize various sectors of the economy. To this end, the Strategy "Digital Uzbekistan-2030" was adopted, which includes a whole range of measures for the digital development of regions and industries.

In his speech, Minister of ICT Sherzod Shermatov noted the main advantages that make Uzbekistan attractive to foreign IT companies and IT specialists.

According to the Minister of ICT, Uzbekistan has a valuable asset in the form of human capital. Currently, there are 35 million people in Uzbekistan, of which 18 million, or more than 60 percent of the total population, are young people under the age of 30. According to preliminary forecasts, by 2030 the population of Uzbekistan will already be 40 million people, of which, if the trend continues, 24 million will be young people.

This is the so-called the stage of the demographic dividend, when the majority of the population is of working age. At the same time, the able-bodied population is literate and speaks at least two foreign languages (English and Russian).

- Today, serious attention is paid to attracting young people to the field of ICT. So, if in the 2000s there were several hundred IT specialists in Uzbekistan, today this figure has grown to 50 thousand. By 2030, a large-scale task has been set - to bring their number to one million people, Minister noted.

The export of IT products and services is consistently growing. So, at the end of 2021, the volume of IT exports reached US$46 million, which is more than twice as much compared to 2020 (US$16 million). It is expected that by the end of this year this figure will be US$100 million, and by the end of 2028 it is planned to bring this figure to US$1 billion. The main markets for IT exports are the US (83.3 percent), the UK (5.2 percent), Russia (3.2 percent), the Republic of Korea (2.1 percent) and the UAE (1.1 percent). 

Incentives for IT business can also be noted among the important advantages. It provides IT companies in Uzbekistan with a number of tax and customs benefits. In particular, IT companies that are residents of IT Park are exempt from all corporate taxes until 2028. IT companies have the opportunity to make settlements with employees who are not citizens of the Republic of Uzbekistan in foreign currency when carrying out export activities. 

The so-called extraterritorial principle, thanks to which residents can carry out their activities throughout the country, regardless of location. The procedure for obtaining a work permit has also been abolished.

In order to create even greater convenience for foreign IT companies and IT specialists, the procedure for issuing an IT Visa was approved - a simplified procedure for obtaining a residence permit, coupled with access to social services. To obtain an IT visa, a minimum number of documents is required, and the process takes 3 days. IT companies planning to relocate to Uzbekistan will also be provided with the necessary infrastructure.

It should also be noted the advantageous geographical position of Uzbekistan in the region, thanks to which the republic can become a connecting IT hub in Central Asia.

The private IT sector is developing at a dynamic pace. Today, IT Park has more than 500 residents, of which 15 percent are large global and local companies. By 2025, it is planned to bring the number of residents to a thousand, with the active involvement of large and medium-sized IT companies.

Particular attention was paid to the training of qualified IT personnel. 

- IT education plays a vital role in training professionals and providing the market with a sufficient workforce to grow and prosper. Therefore, Uzbekistan invests a lot of effort in education, especially in IT education. Without quality education, it is impossible to achieve the set goals and objectives,  Shermatov emphasized.

In his speech, the head of the industry also focused on such an important area as the development of BPO and KPO services. In this context, foreign BPO companies, having registered as residents of IT Park, will be able to take advantage of the benefits provided to them and compete under certain conditions to attract IT-specialists from Uzbekistan.

Moreover, they can also be provided with investments to expand their business in Uzbekistan in the form of office space and equipment, rent exemption for at least six months, utilities, Internet connection costs. BPO schools are also being created that specialize in training personnel for BPO companies.

In conclusion, the Minister of ICT Sherzod Shermatov expressed his readiness to provide practical assistance to all investors and foreign IT companies wishing to carry out their activities in Uzbekistan.