On July 24th, Tashkent hosted the Global Business Services Forum 2024, organized by the Ministry of Digital Technologies and IT Park Uzbekistan. The purpose of the event was to present Uzbekistan's investment climate and the country's achievements in enhancing its outsourcing potential to international companies.
Bringing together more than 200 industry leaders and partners from over 35 countries, the Global Business Services Forum 2024 provided an excellent opportunity for companies seeking to expand their international presence and explore the vast opportunities for outsourcing and market entry from Uzbekistan. This, in turn, is a significant step towards the implementation of the Digital Uzbekistan-2030 strategy and the goal of achieving an export volume of $5 billion.
The informal part of the event began with TechExpo, where key players in Uzbekistan's outsourcing, outstaffing, talent development, and recruitment sectors were showcased. Forum participants had the chance to learn about the activities of companies already actively developing in Uzbekistan, and establish bilateral partnerships.
The official start of the Global Business Services Forum 2024 was marked by an opening speech from the Minister of Digital Technologies, Sherzod Shermatov. He emphasized the rapidly growing number of foreign IT companies entering the Uzbek market and highlighted the favorable conditions created for export-oriented companies.
IT Park Uzbekistan team highlighted the rapid development of the IT-ES industry in Uzbekistan and its growing contribution to the global outsourcing market, emphasizing the strategic geographical location, skilled workforce, and favorable business environment. At the same time, they showcased why Uzbekistan is not only a country with an ancient and beautiful culture but also a modern center of innovation and technology.
Representatives of current foreign members of IT Park Uzbekistan from the USA and Europe shared successful case studies of their operations in Uzbekistan. For example, Oliver Hughes, Head of International Business at TBC Bank Group PLC, gave a presentation on Uzbekistan's strengthening position as an incubator for financial technologies.
Benjamin Denizart, founder and CEO Dionysos, presented “Uzbekistan As a Cost-Efficient Model,” demonstrating the economic attractiveness and safety of Uzbekistan for investors as well as comparison of operating expenses in Uzbekistan and Monaco, clearly showing the advantages of opening an office in our country.
Fiona Lideza, COO of STAFFVIRTUAL, spoke to conference participants about the country's significant human resource potential. In her speech, she noted that the country has a substantial number of qualified specialists in various fields, including IT, finance, and engineering.
Paul George Cohn, a partner at EY, discussed the joint project with IT Park Uzbekistan to develop the International Center for Digital Technologies ENTERPRISE UZBEKISTAN, which is expected to become a regulatory sandbox with a special legal regime. Additionally, during his speech, he provided a detailed overview of the globally demanded practice of Shared Business Services.
The closing speech was delivered by the CEO of IT Park Uzbekistan, Farkhod Ibragimov, who expressed gratitude to all participants of the Global Business Services Forum 2024 for their participation and interest in the Uzbek market. He emphasized that IT Park Uzbekistan strives to create the world's finest conditions for offshore outsourcing, enhancing Uzbekistan's attractiveness on the international stage.
The Global Business Services Forum provides international ITES companies with a unique opportunity to explore Uzbekistan's technological landscape, plan the opening of offices, and enter new markets. It is expected that, as a result of the event, representatives of foreign service oriented outsourcing companies will open their branches in Uzbekistan or establish partnerships with current members serving external markets through Uzbekistan. The guests expressed their confidence that such events will increase Uzbekistan's recognition on the global stage and play a significant role in attracting potential investors and creating new jobs. The created conditions, support, and human resources are in line with the country's strategy to become a new global service provider.
