Uzbekistan Launches International Digital and Financial Hubs

Tashkent, Uzbekistan (UzDaily.com) — On 25 March, President Shavkat Mirziyoyev reviewed projects for the creation of an International Digital Technology Center under the “Enterprise Uzbekistan” brand, alongside an International Financial Center.

The Digital Center will operate under a special legal regime until 2100, incorporating a “regulatory sandbox” that will allow testing of new solutions, adherence to international labor standards, payment of salaries in foreign currency, and data processing in compliance with global requirements. Measures for investment and intellectual property protection, as well as tax and customs incentives, are also planned.

The center will focus on artificial intelligence, digital transformation, research and development, startups, and data centers. It aims to attract up to 1,000 companies, create more than 300,000 jobs, and achieve exports of US$5 billion by 2030.

Oleg Pekos, First Deputy Minister of Digital Technologies, emphasized that current legislation does not always accommodate the specific needs of IT businesses, including short-term contracts and startups with modest charter capital capable of attracting significant investment. The center will also enable free movement of capital and transactions for foreign companies. The draft law to launch the center is expected to be submitted for consideration by the end of the year.

In parallel, the creation of an International Financial Center is underway. Justice Minister Akbar Tashkulov stated that its goals are to attract investment, integrate Uzbekistan into the global financial system, boost GDP, and create up to 15,000 jobs by 2030.

The Financial Center will operate under the common law of England and Wales, with the establishment of an international commercial court and arbitration system, alongside tax and currency incentives. The court will hear disputes involving center residents with foreign judges, covering administrative and economic matters. The President instructed authorities to develop the legal framework and train specialists to international standards, which is expected to further strengthen the national judicial system.

The concept of a special legal regime for IT companies has been under discussion since December 2023. In February 2024, a decree was signed to establish the International Digital Technology Center — Enterprise Uzbekistan. By July of the same year, IT Park and EY Uzbekistan developed a regulatory sandbox model to facilitate the creation of innovative services and corporate digital products.