Uzbekistan looks to create very own Silicon Valley

Uzbekistan looks to create very own Silicon Valley

3 July 2017

Uzbek President Shavkat Mirziyoyev has signed a decree aimed at bolstering the country's high-tech industries. In particular, the document outlines steps towards the “radical improvement of conditions for development of the information technology industry in the country”, with the creation of the Mirzo Ulugbek Innovation Centre among the key points.

With its headquarters in the capital, Tashkent, the Mirzo Ulugbek Innovation Centre will allow digital entrepreneurs across Uzbekistan to access a range of services remotely and provide a hub for coworking for start-ups, software developers, designers and IT specialists. In addition, a number of experts will be working to implement projects in the sphere of information security.

As an incentive for start-ups to take up residency at the centre, residents are exempt from tax until 1 January 2028 and benefit from a number of customs privileges, as well as being able to pay any employees working throughout Uzbekistan in foreign currency.

Currently IT makes up 1.9 per cent of Uzbekistan's GDP. It is hoped that the measures outlined by the new decree with increase this figure to 4 per cent by 2021.

Source: UzDaily