Unprecedented programs and opportunities of IT Park presented at the Uzbek-British Business Forum

On July 24th, an Uzbek-British forum took place in London, where representatives of the business community gathered to discuss the prospects of partnership and investments between the countries. The Uzbekistani delegation was represented by the Minister of Foreign Affairs, Bаkhtiyor Saidov, the Deputy Minister of Investments, Industry, and Trade of Uzbekistan, Oybek Khamraev, the First Deputy Minister of Mining Industry and Geology, Omonullo Nasritdinov, and the Deputy CEO of IT Park Uzbekistan, Makhliyo Muksinova.

Among the participants of the forum were well-known companies such as Control Risks, WOOD & Company, Shell, JPMorgan & Co, Societe Generale, Da Vinci Capital, London Investment Capital, and many others.

Makhliyo Muksinova shared insights about the development of the IT industry in the country and the unprecedented programs of IT Park, which enable foreign companies entering the market to feel comfortable and receive preferential support from the Uzbekistan government.

During her presentation, the IT Park representative introduced the participants of the forum to the new program called "Zero Risk," which offers numerous opportunities for foreign companies and aims to improve the business climate in Uzbekistan, attract foreign investments, and stimulate export activities.

The program includes favorable tax regimes, partial expense compensation, provision of fully-equipped offices, and sharing the expenses on invited mentors to train employees. The program is financed by the Fund for the Development of Information and Communication Technologies (FRICT) and IT Park.

New strategic approaches to attract more foreign companies were also presented. One of them is the "Global Excellence" program, which involves collaboration with FDI consultants to attract direct foreign investments through fixed contracts. Another important approach is the "Local 2 Global" program, which offers a 50% compensation for export consulting services.

Amanda Brooks, the Director of Trade Negotiations at the Department for Business and Trade of the UK government, touched upon significant aspects of Uzbek-British relations, highlighting the transition to a new era of development and longstanding cooperation between the countries.