Large residents of Uzbekistan's IT Park will from October 1 be required to ensure that exports account for at least 10% of their total income, in line with a new government resolution.

The regulation, announced by Minister of Digital Development Sherzod Shermatov and enacted on May 29, mandates that these requirements apply to IT Park residents with annual revenues of UZS100bn ($8.7mn) or more.

The minister clarified that the new requirements will not apply to startups and small IT companies until they reach the specified threshold.

The export targets will increase progressively over the coming years: to 20% in 2026, 35% in 2027, and 50% in 2028. 

Companies failing to meet their export targets will be required to contribute additional funds to initiatives supporting small IT companies' export efforts, with their fees increased by 1%.

Shermatov also noted that President Shavkat Mirziyoyev supports extending benefits for large IT service exporters. 

Companies achieving a 50% foreign sales share in their revenue by 2028 will enjoy these benefits until 2040.

According to the IT Park directorate, residents exported services worth $344mn in 2023, which represented just over a third of their total revenue. 

The majority of these exports, over 40%, went to the United States, while the United Kingdom and the European Union accounted for another quarter. 

Uzbekistan aspires to establish itself as the IT hub of Central Asia and increase IT service exports to $5bn by 2030.

Uzbekistan's rapidly growing IT industry saw exports soar to $344mn in 2023, an increase from $140mn in 2022. 

The country's strategic objectives include increasing annual IT service exports, attracting over 1,000 foreign IT companies to establish operations and creating job opportunities for 300,000 young people in the IT sector.