TASHKENT — Uzbekistan is rapidly emerging as a strategic hub for global corporations seeking expansion into new markets, offering a robust tech ecosystem designed to reduce operational costs and foster innovation. This insight was shared by Nodirbek Berdiqobilov, head of the Uzbekistan IT Park Korea Office, at the recent Korea-Uzbekistan Business Forum held in Tashkent.
Berdiqobilov emphasized, “Uzbekistan is no longer simply an emerging market; it’s swiftly transforming into a vital strategic hub, particularly for Korean companies looking to expand their presence across Central Asia, the Middle East, and broader global markets.”
The nation presents an attractive proposition for foreign investment, characterized by a stable economic environment, a burgeoning young talent pool, and substantial government support. With a population exceeding 38 million, over 65 percent are under the age of 35, highlighting a dynamic and youthful workforce.
Uzbekistan boasts a vibrant IT sector with over 300,000 active ICT professionals. This growing talent base is continually nurtured by more than 500 IT education institutions and over 220 universities, ensuring a steady supply of skilled individuals for the tech industry.
Companies establishing residency with IT Park Uzbekistan benefit from exceptional incentives, including a zero corporate income tax, zero social tax, and comprehensive exemptions from property and land taxes. Foreign enterprises are further supported with potential access to up to one year of free office space and equipment through specialized support programs.
“Korean companies can achieve quick and efficient market entry into Uzbekistan,” Berdiqobilov stated, underscoring the streamlined processes and supportive framework in place. Currently, more than 3,300 companies are proud residents of IT Park Uzbekistan, a number that includes 26 prominent Korean firms.
The global reach of IT Park extends through its overseas offices in key cities such as Seoul, New York, Berlin, Tokyo, Shanghai, and Riyadh, facilitating international partnerships and investment. Berdiqobilov highlighted existing successes: “Today, Korean companies are already thriving in Uzbekistan across diverse sectors, including advanced software development, artificial intelligence, cutting-edge data centers, interactive gaming, digital media, and rich digital content creation.”
sanjaykumar
