Uzbek-American BPO corporation to be established in Uzbekistan

The Ministry of Information Technology and Communications Development of Uzbekistan, IT Park in partnership with LoadStop hosted an event entitled ‘Uzbekistan-USA: Logistics Technologies and Common BPO Opportunities’ in Irvine, California. 

The event was attended by Irvine Mayor Farrah Khan, Irvine Chamber of Commerce President Brian Starr and over 50 BPO entrepreneurs.

The purpose of the event was to attract large orders for BPO in Uzbekistan, to establish cooperation with existing companies, as well as to announce the opening of a new BPO export corporation in Uzbekistan.

Speaking about the potential of the new outsourcing market in Uzbekistan, Minister of ICT Sherzod Shermatov noted the necessary conditions created in the country, including legislation that meets international standards, the necessary modern infrastructure, tax and customs benefits, the development of education in the field of IT, etc. This makes Uzbekistan an attractive country for cooperation in the field of business process outsourcing.

It was also noted that RevoTech, a resident of IT Park, has invested in a startup called LoadStop. It is worth noting that the startup, whose value exceeds $50 million, offers an innovative transport management system.

As part of the event, the Ministry of ICT of Uzbekistan and Access Capital Management Corp. signed an agreement on cooperation in the field of IT and BPO, as well as on the creation of a joint corporation. The future corporation provides for the creation of 1100 jobs within 3 years and the opening of legal entities in the US and Uzbekistan. It was noted that the new corporation has reached agreements to expand business process outsourcing in such areas as insurance, factoring, QA (quality control) and multimedia.

After the official part of the event, B2B meetings with American companies took place. The representatives of the companies were told about the procedure for obtaining the status of an IT Park resident and the benefits provided to residents. In addition, the participants discussed the creation of an association for the development of the BPO sector in Uzbekistan, as well as the organization of events within the framework of ICT WEEK Uzbekistan 2022.

For reference: Business Process Outsourcing (BPO - business process outsourcing) is one of the types of outsourcing in which an organization transfers non-core business processes to another company.