We offer a palette of solutions for companies interested in the Uzbekistan market. Together with our partners, we provide services for starting a business in the country, formalizing labor relations, M&A transactions, and arbitration, and solutions for IT companies and traditional businesses.
What Makes Uzbekistan Attractive for Business?
- Dynamic Economic Growth: Uzbekistan boasts a rapidly expanding economy with a GDP growth rate of up to 10% per year. The economic structure is predominantly driven by the real sector, including construction and agriculture, while services account for less than 40% of the economy.
- Abundant Natural Resources: The country ranks among the world’s top 10 in gold and copper reserves, as well as in uranium and natural gas extraction, and cotton production.
- Strategic Trade Partnerships: Uzbekistan maintains strong trade relations with key partners, including Russia, China, Kazakhstan, Turkey, and Pakistan. Both Russia and China are significantly investing in the Uzbek economy, while the EU has established supportive banking networks with the country.
- Promising Industries: Experts identify retail, delivery services, commercial real estate, and fintech as emerging sectors ripe for investment and growth.
- Thriving IT Ecosystem: Established in 2019, the IT park offers attractive tax benefits and positions Uzbekistan as an aspiring IT hub for the Central Asian region. The fintech landscape is rapidly evolving, with the emergence of fully digital banks (like Anorbank) and neobanks (such as Bank Apelsin and Multicard), as well as proprietary payment systems like Uzcard and Humo.
- Commitment to Digitalization: The digital transformation of the country is a top priority, driving innovation and enhancing efficiency across various sectors.
