On June 26, in Tashkent, USAID Business Support Project in collaboration with the Foreign Investment Council of Uzbekistan held quarterly meeting dedicated to the discussion improvements in Uzbekistan’s ICT sector.
Partners discussed opportunities on enhancing Uzbekistan’s digital infrastructure to support these improvements. There was a consensus on the need to modernize existing regulations to foster a safer and more dynamic ICT environment. This includes formulating policies that not only address data protection and privacy but also encourage innovation and investment from both local and international stakeholders.
“Like other Central Asian countries, Uzbekistan is experiencing a significant boom in its ICT sector. One of the major signs of this change is the IT Park, now home to over 3,000 residents and still growing. The favorable conditions for foreign companies have made Uzbekistan an attractive destination for international business and technology investments,” said Aisuluu Kozhomkulova, Reginal Director for Central Asia at StrategEast, a subcontractor organization helping the Business Support Project on ICT development.
Moreover, during the meeting, the Foreign Investment Council introduced the Single Window platform, a one-stop-shop website designed to streamline the investment process and enhance foreign investors’ understanding of policies, taxes, and other crucial aspects of establishing businesses in Uzbekistan.
“These quarterly donor meetings are pivotal, ensuring that all efforts are coordinated, and every strategy is aligned,” noted a participant. “Regularly discussing and refining policies is crucial in shaping Uzbekistan into a premier destination for ICT and business development. It’s through this ongoing collaboration that we can truly transform our economic landscape.”
The Business Support Project is a USAID-funded initiative designed to boost the country’s economic growth by improving the business environment and supporting the private sector. This project focuses on enhancing the competitiveness of Uzbek businesses, facilitating access to finance, and promoting sustainable business practices across various industries.
The Project collaborates with Uzbek government, local enterprises, and international organizations to provide tailored training, modernize regulatory frameworks, and introduce advanced technologies. These efforts are geared towards simplifying business processes and fostering innovation, thereby making Uzbekistan an attractive destination for investment.
