Outcomes of the Central Asian Business Expo 2024: Over 70 Companies Explore Uzbekistan's ITes Sector Opportunities

On December 26 – 27, IT Park Uzbekistan hosted the Central Asian Business Expo 2024, organized by the Ministry of Digital Technologies, IT Park Uzbekistan, and CabExpo. The event brought together representatives from over 70 companies. Attendees engaged with prominent entrepreneurs, key industry stakeholders, and experts specializing in the provision of services to foreign companies across various sectors, particularly in logistics.    

 

Central Asian Business Expo 2024 represents a vibrant platform for facilitating interactions, fostering knowledge exchange, and broadening avenues for collaboration between the ITES sectors of two regions: North America and Central Asia. This event offers an exceptional opportunity for business representatives to establish partnerships, discuss emerging trends, and identify pathways for mutual growth and development.      

 

The inaugural day of the conference was open to the public and featured an exhibition and job fair tailored to Uzbekistan's youth. During the expo, 30 leading companies presented available positions and highlighted exceptional opportunities for skilled professionals. Students and specialists gained valuable insights into career prospects within major international outsourcing companies while familiarizing themselves with essential employment requirements. 

In his opening address, the Minister of Digital Technologies, Sherzod Shermatov, emphasized:  

“The Government of Uzbekistan places a high priority on the development of the IT sector, and companies can count on comprehensive support for their businesses. During an open dialogue with entrepreneurs, the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, underscored the extension of tax incentives for businesses in Uzbekistan until 2040.   

Furthermore, the forthcoming launch of the Enterprise Uzbekistan initiative will unlock even greater opportunities. We extend an invitation to ITES companies to join our community, and we stand ready to provide the requisite conditions for the seamless and successful operation of your businesses.”    

Gulshanbek Ravshanbek, President of CABXPO, extended a cordial welcome to the participants, stating:  

“Our mission is to unite the peoples of Central Asia and foster stronger, interconnected communities. With the support of Sherzod Shermatov, we have made significant strides toward this objective, bringing Central Asian countries and their citizens closer together.  

Our ultimate goal is to support businesses in thriving and expanding within international markets, with a specific focus on the United States. In Chicago, we have already achieved substantial success by establishing a network of 20 companies that collaborate on truck acquisitions and resource sharing. By uniting our efforts, we can expedite business growth and achieve shared prosperity more efficiently.  

This is merely the beginning. We encourage Tajikistan, Kazakhstan, and Turkey to join us in the subsequent stages of this transformative journey.”  

It is worth highlighting the tremendous opportunities available for Uzbekistan’s youth who are acquiring foreign language skills and mastering modern, in-demand competencies. The IT industry in Uzbekistan is experiencing rapid growth, creating a significant number of employment opportunities. This growth offers a unique chance for individuals to establish careers while remaining close to their families and contributing to the international market. IT is not merely a profession but a gateway to the future.  

At present, more than 310 IT Park members are engaged in outsourcing services, primarily delivering products and services to markets in the United States and Europe. IT Park provides the critical resources, state-of-the-art infrastructure, and comprehensive support required to enable the rapid and efficient growth of its members’ businesses.   

“One of the key domains where we have attained remarkable success is service delivery. Numerous instances demonstrate the success of our projects in North America, where our companies have made a profound impact. Teams from Uzbekistan and Kazakhstan work night shifts to address global demands, delivering critical services to Europe and the United States,” stated Sultonmurod Rasulov, Head of Export Development for the North American Region at IT Park. 

The second day of the event was conducted in a closed format, convening representatives from over 70 international companies. Discussions focused on pressing challenges and strategic solutions anticipated for the industry in 2025, alongside the exchange of expertise and ideas aimed at fostering effective business development.

Prominent topics of discussion included recruitment strategies, workforce skill enhancement, and the optimization of business processes in a rapidly evolving market landscape. Industry leaders concentrated on devising approaches to attract and retain highly skilled professionals while exploring avenues for scaling operations within Uzbekistan.

Particular attention was directed toward Uzbekistan's potential for job creation and the development of startups. Notably, two additional companies are expected to launch in Uzbekistan shortly, underscoring the growing interest of international businesses in the country. 

Participants expressed a strong commitment to continuing such engagements for strengthening partnerships, facilitating knowledge exchange, and enabling swift responses to emerging challenges and opportunities within the sector. IT Park remains steadfast to supporting the creation of platforms that facilitate collaboration among companies, fostering robust business and favorable conditions for growth and development of Uzbekistan's ITES sector.  

What Does This Mean for Uzbekistan?

Central Asian Business Expo 2024 is far more than a business platform; it is a strategic initiative aimed at strengthening Uzbekistan's economic potential and cultivating partnerships with prominent logistics outsourcing companies from North America. Representatives of American firms were afforded the opportunity to assess Uzbekistan's business capabilities, explore the local infrastructure, connect with young and ambitious talent, and express their intentions to establish offices within the country.   

Moreover, for Uzbekistan’s youth, this event marked a pivotal milestone in understanding the prospects within the field of supply chain management. By acquiring knowledge of operational intricacies, they can establish their own companies. This, in turn, will create new employment opportunities, enhance the qualifications of local specialists, and attract international investments, thereby driving sustainable development and bolstering Uzbekistan’s competitiveness in the global market.