Uzbekistan’s revenues from IT outsourcing tripled last year to more than $300 million, after doubling every year for the previous four years. The Uzbek government believes that this rate of growth could soon bring Uzbekistan into the ranks of major IT outsourcing centers such as India, Belarus, Ukraine and Romania.
Recent reforms and investment in Uzbekistan have made the country a more attractive place to work not only for local IT professionals, but foreign workers as well. The number of companies in Uzbekistan established using foreign capital has grown seven and a half times in the last two years.
Uzbekistan is developing an IT ecosystem centered around the Tashkent IT Park. In addition to the Ministry of Digital Technologies, which is located there, 1,652 companies had become residents of the park by the end of 2023, almost half of them (767 companies) setting up over the past year. Residents of the IT park have significant tax benefits: Uzbekistan’s corporate tax ranges from four to 15%, but companies at the park are exempt from it. The IT sector now employs about 6,000 people.
The main technology export market for Uzbekistan today is the United States, which accounts for half of all IT exports. By the end of 2022, the U.S. had moved to 15th place from 20th for importing outsourcing services from Uzbekistan. Uzbek authorities aim to increase IT outsourcing to $5 billion, with the involvement of 300,000 people, as part of the country’s 2030 development strategy.
