This chapter assesses the opportunities and challenges in promoting investment in support of digital transformation in Uzbekistan. It measures the contribution of foreign direct investment to the digital economy and evaluates its impact on the deployment of digital technologies, the development of communications infrastructure and job creation. It also provides an assessment of investment and digital policies and offers recommendations to the Government of Uzbekistan to further strengthen investment in the digital economy.
Roadmap for Sustainable Investment Policy Reforms in Uzbekistan
Abstract
Uzbekistan has attracted a growing volume of foreign direct investment (FDI) in digital sectors over the past two decades, reaching a total of USD 3.4 billion between 2003 and 2024. However, digital investment remains a relatively small share of total FDI, and Uzbekistan has yet to fully capitalise on the global shift toward more innovation- and technology-intensive investment following the COVID-19 pandemic. Digital FDI in Uzbekistan is largely concentrated in telecommunications and digital services, reflecting investor confidence in foundational digital infrastructure and service delivery. In contrast, there is limited investment in advanced digital technologies such as AI, fintech, or R&D. The country’s digital transformation is progressing, but remains service-driven, with untapped potential in higher-value, innovation-led activities. Digital FDI also plays an increasingly important role in job creation, particularly in labour-intensive segments such as digital services and electronics. However, employment outcomes remain modest compared to high-performing economies, in part due to the focus on the capital-intensive telecommunications sector. Strengthening digital skills, improving infrastructure, and promoting investment in knowledge-intensive functions will be critical to attracting more diversified digital FDI and maximising its development impact.
The design and implementation of investment and digital policies in Uzbekistan involves multiple ministries and agencies, highlighting the need for strong institutional co-ordination mechanisms to ensure policy coherence. The Ministry of Digital Technologies (MDT) leads Uzbekistan’s digital transformation efforts and co-ordinates several specialised agencies in addition to the IT Park. Investment support is led by MIIT and UzIPA, but co-ordination with digital policy remains limited. Cross-ministerial collaboration continues to be fragmented and largely top-down. Uzbekistan’s digital transformation is guided by the Digital Uzbekistan 2030 Strategy, which outlines broad priorities but lacks a dedicated section on investment. Fragmented investment provisions across various strategies weaken policy coherence, while sectoral plans like the Strategy for the Development of Artificial Intelligence Technologies also lack sections on investment considerations. A consolidated, cross-referenced framework aligning digital and investment strategies is essential to improve transparency, attract targeted investment and support digital transformation.
Notable progress has been made in strengthening Uzbekistan’s investment climate through the Law on Investments and Investment Activities along with supporting decrees aimed at attracting foreign capital and improving investor protection. Despite efforts, Uzbekistan continues to maintain relatively high FDI restrictions in digital sectors compared to OECD and non-OECD averages. While less restrictive than some Central Asia peers, significant foreign equity limitations remain, particularly in media sectors, where ownership caps and operational constraints aim to safeguard critical infrastructure and national interests. Restrictions across digitally intensive sectors, including finance and professional services, may hinder competition, innovation spillovers and digital economy growth. In parallel, Uzbekistan has advanced its legal framework to support digital trust through the Law on Personal Data and the Law on Cybersecurity, enhancing data protection, regulatory certainty and investor confidence. Reforms in competition and telecommunications have further improved the investment environment, with the revised Law on Competition addressing anti-competitive practices in digital markets and the Telecommunication Law strengthening regulatory oversight and removing licensing barriers in data services. Nonetheless, fragmented follow-up measures complicate accessibility and transparency, highlighting the need for a consolidated platform to centralise investment-related legislation.
Uzbekistan has expanded the use of tax and non-tax incentives to attract investment into digital sectors. These include reduced tax rates, customs exemptions, dedicated visa schemes, startup support programmes and initiatives such as the Zero Risk Programme. While these measures have helped boost foreign investment and IT service exports, they remain largely limited to IT Park residents, restricting access for smaller enterprises outside the IT Park. Significant progress has been made in digital skills development through initiatives like One Million Uzbek Coders and the Youth Digital Skills Programme, which promote inclusive digital upskilling, particularly for women. To address the digital skills gap, Uzbekistan should strengthen lifelong learning policies, integrate gender components across digital programmes, and expand support for SMEs and individuals transitioning between jobs. Closer private sector engagement and partnerships with multinational enterprises would help better align skills development with labour market needs and investment priorities. Despite ongoing efforts, Uzbekistan lacks a comprehensive skills anticipation system, which is essential for forward-looking digital skills development. Strengthening collaboration between the IPA, foreign firms, IT Park and government bodies is essential to build domestic capacity, attract talent, and boost investment in skill-intensive digital sectors.
UzIPA has enhanced investment promotion efforts by leveraging digital tools to attract investment, particularly in the digital economy. However, promotion across digital sectors remains fragmented due to the absence of a clear prioritisation framework. Developing a comprehensive, regularly updated prioritisation strategy aligned with national digital and investment goals would enable effective targeting of high-potential digital segments. Stronger stakeholder engagement and greater use of AI for data analysis, investor targeting, and service delivery could also further improve efficiency and investor satisfaction. While progress has been made in digitalising investment processes, business registration and permitting procedures remain only partially online, creating administrative burdens. Expanding digital compliance services, improving regulatory information availability, and strengthening co-ordination between UzIPA and IT Park are critical to supporting digital investors. Lastly, a stronger focus on investment facilitation and aftercare, particularly in addressing regulatory and skills-related needs, would help close information gaps, enhance transparency and reinforce Uzbekistan’s attractiveness as a digital investment destination.
Develop a comprehensive investment strategy that integrates digitalisation priorities and strengthens alignment with Digital Uzbekistan 2030. A revised investment strategy should define key target sectors, priority activities, and investment types to attract investment in support of digital transformation. It should also set clear government objectives, outline reform plans to enhance the investment climate, clarify responsibilities of relevant institutions, and align target sectors with existing capabilities.
Expand financial and non-financial incentives beyond IT Park residency to strengthen digital capabilities to SMEs across digital and non-digital sectors. Broader government programmes, such as grants, subsidies, and training cost deductions should be introduced to support SMEs access to basic digital tools. Tailored support is key, as SMEs face different barriers compared to larger firms. extending incentives will help level the playing field, enhance SME competitiveness, and enable greater spillovers from FDI.
Consider the impact that data localisation requirements have on the growth of the digital economy and facilitate cross border flows. The government should consider gradually phasing out the mandatory data localisation requirement, which may deter foreign investment and limit innovation spillovers. A more flexible approach to cross-border data flows can enhance digital competitiveness, facilitate access to cloud services, and enable greater participation in the global digital economy.
Expand partnerships with foreign MNEs to strengthen digital skills development in Uzbekistan. Engaging in partnerships with foreign firms is key, given their capacity to establish training centres and digital upskilling programmes. Building on domestic initiatives such as Uzum’s partnerships, Uzbekistan should engage more with foreign MNEs to introduce innovative talent development approaches and address local digital skills gaps.
Establish a comprehensive skills anticipation system to identify evolving labour market needs and better align workforce capabilities with the needs of digital sectors. The absence of a comprehensive skills anticipation system hinders digital skills development, as policymakers are unable to assess evolving labour market needs. Building on the efforts of the Institute for Labour Market Research, further developing real-time skills forecasting, including regular skills needs surveys, will be key to support targeted upskilling policies and attracting more skill-intensive digital investments.
Develop a comprehensive investment prioritisation framework to enable UzIPA to target high-potential segments of the digital economy. The prioritisation framework should align with national digital and investment strategies, set clear prioritisation criteria, and be regulatory reviewed to reflect technological changes. Regular consultations with digital sector stakeholders should also be established to ensure that investment promotion activities address industry needs and challenges effectively.
Strengthen and streamline co-ordination between UzIPA and IT Park to strengthen investment promotion, facilitation, and aftercare services across digital sectors. Greater alignment between the two agencies would reduce institutional overlaps, minimise informational asymmetries, and lower transaction costs for investors. UzIPA should take a more active role in investment facilitation and aftercare, particularly in addressing the specific needs of digital investors, such as data governance, regulatory clarity, and access to skilled labour. Improving access to regulatory information and promoting awareness of business support programmes would help close information gaps, reduce investor uncertainty, and foster a more transparent and digital-friendly business environment.
Foreign direct investment (FDI) can play a pivotal role in accelerating digital transformation by introducing new technologies, fostering knowledge transfer, and building local digital capabilities. Multinational enterprises (MNEs) can play a central role in this process by investing in broadband networks, cloud computing, and data centres, which expand connectivity and provide the backbone for digital services (OECD, forthcoming[1]). They can also contribute to digital adoption in traditional sectors, modernising industries such as manufacturing, finance, and logistics through automation, data-driven decision-making, and new business models. By collaborating with foreign MNEs, domestic firms can be exposed to new digital standards and technologies that they need to adopt to remain competitive (Box 9.1). As local firms become more digitally integrated, these partnerships boost productivity and foster broader digital innovation, driving the shift to a knowledge-based, tech-driven economy. The impact of FDI on digitalisation depends on the ability of host economies to absorb and integrate these technologies, underpinned by investments in digital skills development and supportive policy frameworks as well as the establishment of basic connectivity (OECD, forthcoming[2]). Addressing these gaps is essential to ensure that digital transformation contributes to more inclusive and sustainable growth across all regions and sectors.
9.2.1. Uzbekistan has been attracting a growing volume of digital investment; yet, there remains considerable potential to enhance its attractiveness to digital MNEs
Over the past two decades, Uzbekistan has experienced significant growth in FDI into its digital economy. Between 2003 and 2013, Uzbekistan attracted USD 1.2 billion in digital investments, representing 6.2% of the total greenfield investments during this period (Figure 9.1, Panel B). The investment surge began in 2008 and reached its peak in 2013, with newly announced FDI projects amounting to more than USD 321 million, or 82% of total FDI inflows for that year (Figure 9.1, Panel B). From 2013 to 2024, investment in digital sectors continued to increase in absolute terms, reaching USD 2.2 billion; however, its relative share decreased to 4.8%, reflecting a higher volume of investment flows into non-digital sectors. Notably, despite the COVID-19 pandemic, the largest absolute volume of digital investments was recorded in 2020, reaching USD 580 million, representing 20% of total FDI inflows. Subsequently, the annual digital FDI average fell to approximately USD 134 million in the post-pandemic period.
This diverging trend distinguishes Uzbekistan from most OECD and non-OECD economies, which experienced enhanced digital FDI prospects following the pandemic. Globally, greenfield investment in digital sectors nearly doubled after the onset of COVID-19, rising from 16% of total global investments in 2014-2018 to 25% between 2019 and 2023 (OECD, forthcoming[1]). The pandemic significantly accelerated demand for digital technologies, underscoring their increased relevance in the global investment landscape. Industries such as semiconductors, computers, and electronic components have seen a substantial expansion worldwide. This surge was driven by policy measures to ease supply chain bottlenecks and address security concerns, while also promoting the development of national and regional capabilities in critical technologies for the digital transition
Despite the increase of digital investment in absolute terms, the majority of Uzbekistan’s investment inflows continue to be concentrated primarily on non-digital sectors. Between 2003 and 2024, digital sectors accounted for approximately 5% of greenfield FDI in Uzbekistan (Figure 9.1, Panel A). Although this share exceeds those observed in other Central Asian economies such as Turkmenistan, Kyrgyzstan, and Kazakhstan, it remains significantly below the average levels recorded in OECD (24%) and non-OECD economies (14%) (Figure 9.1, Panel A). Additionally, Uzbekistan's digital FDI share is considerably lower than that of Tajikistan, which leads the Central Asian region, attracting 21% of its total FDI into digital sectors. Tajikistan’s relatively higher concentration of digital investment may reflect a combination of policy efforts, regulatory measures, and broader enabling conditions, including geographic and demographic factors. This comparison highlights Uzbekistan’s potential to increase its attractiveness to digital MNEs through targeted policy interventions and structural reforms.
Note: The Central Asia average includes Uzbekistan, Tajikistan, Kazakhstan, Kyrgyzstan, and Turkmenistan.
Source: OECD FDI Qualities Indicators 2024 based on fDi Markets database.
With a substantial increase in the financing gap to meet the SDGs, and the urgent need to accelerate investment to combat climate change and support the green and digital transition, FDI is even more important. The FDI Qualities Indicators provide governments with essential data to gauge FDI’s impacts on the economy across four areas: decarbonisation, gender equality, job quality and upskilling, productivity and innovation. The first edition of the indicators was published in 2019 and the second in 2022. The 2025 edition includes a new impact area with indicators dedicated to the contribution of FDI to the digital transformation. The new indicators support and complement the policy framework on investment in digital transformation.
Covering a large number of OECD and non-OECD economies, the FDI Qualities Indicators on the digital transformation provide information on FDI flows into sectors that enable digital transformation, as well as into emerging digital technologies, including AI and data processing. They also assess the impact of FDI on the digitalisation of the broader economy, with a focus on the development of communication infrastructure and connectivity. Additionally, they allow investigating the varying levels of participation in the digital economy between foreign-owned and domestic firms, highlighting potential disparities.
Digital sectors are essential to digital transformation, involving the production of goods or services that form the backbone of digital ecosystems. These include computer, electronic and optical products; electrical equipment; publishing, audiovisual and broadcasting activities; telecommunications; and IT and other information services. Greenfield FDI in digital sectors has seen substantial growth, rising from 16% of greenfield FDI between 2014–2018 to 25% between 2019–2023, driven by ICT goods, including semiconductors, computers, and electronic/electrical components. Variations across countries are large, however. Economies like Japan, Ireland, or Malaysia, attract a large share of FDI in these industries, leveraging strong positioning in the digital-technology value chain. In contrast, some countries in Latin America and Sub-Saharan Africa have seen limited benefits from the surge in digital investments.
As digital technologies evolve, digital transformation extends beyond traditionally digital sectors, impacting all sectors of the economy. The extent to which sectors are exposed to digital technologies varies significantly (OECD, forthcoming[3]). While digital sectors exhibit high adoption rates of digital technologies, more traditional sectors (e.g. automotive, finance, business services and retail trade), are increasingly incorporating digital technologies across various facets of their operations (OECD, forthcoming[1]). Analysing FDI through the lens of sectoral digital intensity provides insights into its contribution to the broader digital economy. Digital-intensive sectors account for around 40% of total greenfield FDI. FDI in digital intensive sector varies significantly across countries, with some advanced markets like Singapore receiving over 50% of FDI in digital-intensive sectors. These disparities highlight the importance of host country’s economic structure and digital readiness to leverage the benefits of FDI. Similarly, countries with a more skilled workforce are better positioned to attract and leverage FDI in digital intensive sectors, while those with weaker capabilities risk falling behind.
Source: OECD (forthcoming[1]), FDI Qualities Indicators 2024: mobilising investment for inclusive green and digital transitions, OECD Publishing, Paris.
9.2.2. Digital FDI is concentrated primarily in telecommunications and digital services
Analysis of digital FDI flows to Uzbekistan by sector reveals important shifts in the scale and composition of investment between 2003–2013 and 2014–2024. In absolute terms, total digital investment rose substantially across all subsectors (Figure 9.2, Panel A). Telecommunications remained the dominant recipient, with capital expenditure increasing from USD 927 million to USD 1.18 billion. However, its share of total digital FDI declined from 76% to 54%, reflecting diversification within the digital investment landscape. The most notable growth occurred in digital services, where investment surged from USD 33 million in 2003-2013 to nearly USD 486 million in 2014–2024. As a share of total digital FDI, digital services expanded from just 3% to 22%, signalling a clear shift toward service-oriented digital activities such as software development, IT consulting, and e-commerce platforms (Figure 9.2, Panel B). In contrast, FDI in ICT goods and electrical components remained relatively modest. Although absolute investment in ICT goods almost doubled (from USD 82 million to USD 156 million), its share of total digital FDI remained flat at 7%. Similarly, investment in electrical components increased from USD 174 million to USD 367 million, but its relative importance rose only modestly, from 14% to 17%.
The composition of digital FDI in Uzbekistan indicates a growing orientation toward service-based activities, particularly in areas such as software, platforms, and digital retail, rather than in ICT manufacturing. This trend appears to reflect the country’s relative strengths in labour availability and cost competitiveness, as well as broader global shifts favouring service-led digital development. While such specialisation can offer scalable employment and productivity benefits, the comparatively limited investment in ICT goods and electrical components may suggest underlying constraints to deeper integration into digitally enabled manufacturing value chains. These may include gaps in technical capacity, infrastructure, or investment linkages with regional and global production networks. Addressing these challenges—by improving digital and industrial skills, upgrading infrastructure, and promoting stronger value chain connectivity—could help diversify the composition of digital FDI and increase the potential for value-added growth across both services and hardware-intensive segments of the digital economy.
Source: OECD FDI Qualities Indicators 2024 based on fDi Markets database.
Despite significant investment in telecommunications and digital services, Uzbekistan attracted a relatively modest share of greenfield FDI in ICT and internet infrastructure, accounting for 3% of total FDI inflows over the period 2014–2024 (Figure 9.3). This represents a slight decline from 4% in the previous decade (2003–2013) and places Uzbekistan below the OECD average (11%) and the non-OECD average (6%) for the same period. Within Central Asia, Uzbekistan’s performance remains limited, surpassing only Kazakhstan (1%) and Turkmenistan (0%), but trailing both the regional average (2%) and significantly lagging behind Tajikistan (34%) and Armenia (22%), which have seen substantial increases in the share of FDI in communications infrastructure (Figure 9.3). These findings suggest that, while Uzbekistan has made progress in attracting digital investment overall, it has yet to fully leverage the growing global demand for foundational ICT and internet infrastructure. The persistently low share of communications infrastructure investment may reflect structural barriers such as underdeveloped broadband networks, regulatory uncertainty, or limited regional integration. Enhancing the enabling environment for communications infrastructure—through improved connectivity, transparent regulation, and targeted investment promotion as well as public-private partnerships—could strengthen Uzbekistan’s competitiveness and support more inclusive digital transformation.
Greenfield FDI flows in ICT and internet infrastructure (% of total FDI)
Source: OECD FDI Qualities Indicators 2024 based on fDi Markets database.
9.2.3. Investment in digital technologies has primarily supported e-commerce, with limited engagement in areas such as AI, automation and R&D
Digitalisation is evolving at an unprecedented pace, fuelled by the continuous emergence of new technologies that transform global production processes and investment strategies. Cloud computing and data centres have become integral components of communication infrastructure and services, offering essential data storage and exchange services for enterprises, governments and consumers. Likewise, blockchain technology and fintech are gaining increasing relevance across various sectors in the finance and business sectors. Meanwhile, newer technologies are showing significant potential and extending their applicability beyond traditional digital industries. The development of large language models has positioned artificial intelligence at the forefront of digital innovation, broadening its potential benefits across numerous sectors. This rapid change has heightened foreign investors' interest, as they seek to capitalise on the opportunities offered by these advancements, fostering market expansion and technology development.
Recent trends in digital technology FDI to Uzbekistan reveal a concentrated investment landscape, with the majority of capital inflows directed toward retail-oriented services. Between 2003 and 2024, investments involving e-commerce technologies emerged as the leading driver of digital technology FDI, attracting USD 640 million across 14 projects and accounting for 55% of total investments in digital technologies (Figure 9.4, Panel A). This was followed by data centres and cloud computing, which received USD 381 million—equivalent to 35% of digital technology FDI—despite being associated with only two large-scale projects. These patterns indicate strong investor interest in foundational digital services and the expansion of digital trade channels. By contrast, investment in emerging and innovation-driven technologies remains limited. Fintech represented 6% of FDI flows (USD 90 million), while artificial intelligence and smartphone-related activities attracted less than USD 10 million each and were limited to individual projects.
Although these digital technology investments support the expansion of Uzbekistan’s digital ecosystem, they are generally not associated with high levels of innovation or knowledge creation. The distribution of digital technology FDI by business activity shows a strong concentration in logistics and transportation (50%) and ICT and internet infrastructure (35%), together accounting for 85% of total digital FDI (Figure 9.4, Panel B). In contrast, higher value-added and knowledge-intensive functions remain marginal: business services comprise just 8%, technical support centres 5%, and sales and marketing activities only 3% of digital FDI. Notably, there is no recorded investment in research and development (R&D), indicating limited engagement of foreign investors in innovation-driven activities. This pattern suggests that while Uzbekistan is attracting digital FDI linked to infrastructure and service delivery, further efforts may be needed to create conditions that support the localisation of higher-value functions such as R&D and specialised services.
Source: OECD FDI Qualities Indicators 2024 based on fDi Markets database.
9.2.4. Digital investment is an important driver of job creation in Uzbekistan
Digital FDI in Uzbekistan demonstrates a comparatively high employment generation potential relative to non-digital investment, particularly in service-oriented and manufacturing-related segments. On average, digital sectors in Uzbekistan created 3.3 jobs per USD 1 million invested during the observed period, nearly twice the rate of non-digital sectors (1.8 jobs per USD 1 million) (Figure 9.5, Panel A). The most labour-intensive digital activities included digital services (8.3 jobs), electrical components (7.5), and ICT goods (6.7). In contrast, telecommunications—despite receiving the highest volume of digital investment—was associated with the lowest job creation intensity (0.6 jobs), consistent with its capital-intensive nature. From an international perspective, Uzbekistan performs in the mid-range among comparator economies. It exceeds the OECD average (1.1 jobs per USD million), the non-OECD average (1.9), and several countries in Central Asia and Eastern Europe, including Armenia, Azerbaijan, and Mongolia (Figure 9.6). However, it falls short of leading performers such as Viet Nam (8.7), Kyrgyzstan (7.7), and Romania (7.1), as well as other high-employment-intensity economies such as Czechia and Kazakhstan. While not regional peers, countries such as Colombia and Egypt also outperform Uzbekistan in job intensity, reflecting different sectoral patterns of investment.
A complementary view based on digital FDI’s contribution to total FDI-related job creation reinforces these findings. In Uzbekistan, digital sectors accounted for 9% of total FDI jobs—slightly below the non-OECD average (10%) and the OECD average (13%) (Figure 9.5, Panel B). While this represents a higher share than in many Central Asian economies (e.g. Kyrgyzstan, Mongolia, Turkmenistan), it remains well below the shares observed in Viet Nam (32%), Türkiye (15%), and Tajikistan (15%) (Figure 9.5, Panel B). This gap is partly explained by the sectoral composition of digital FDI. In Uzbekistan, investment has been concentrated in telecommunications and digital services—sectors that, while important for digital infrastructure and access, tend to be less labour-intensive. By contrast, countries such as Viet Nam, Romania, and Czechia attract significant FDI in ICT goods and electrical manufacturing, which are more job-intensive and contribute to higher employment outcomes per dollar invested.
These findings underscore the growing role of digital FDI as a contributor to employment generation in Uzbekistan, while also pointing to considerable scope for improvement. Shifting the composition of digital FDI toward more labour-intensive and value-adding activities—such as digital services with export potential, electronics assembly, and component manufacturing—could enhance the employment impact of future inflows. Realising this potential will require a co-ordinated policy approach. Strengthening workforce capabilities through digital skills development, including vocational and tertiary education tailored to the needs of digital and high-tech sectors, is essential. In parallel, targeted investment promotion efforts aimed at innovation-intensive and employment-rich digital segments could attract a more diversified set of investors. Enhancing local supplier readiness and fostering linkages between multinational enterprises and domestic firms would further support the creation of quality jobs and help integrate Uzbekistan more deeply into global digital value chains.
Source: OECD FDI Qualities Indicators 2024 based on fDi Markets database.
Number of jobs created per USD million invested in digital sectors, 2003-2024
Source: OECD FDI Qualities Indicators 2024 based on fDi Markets database.
Effective governance arrangements are key to ensure coherent policy alignment across government levels, institutions and agencies in support of investment in digital sectors. Uzbekistan prioritises investment as a key driver for digitalisation, connectivity, and the adoption of digital technologies. The Government of Uzbekistan supports the digital transformation through comprehensive national strategies and plans, implemented by several ministries and specialised agencies. This section reviews Uzbekistan’s institutional setting and strategic framework governing investment and digital policy.
9.3.1. A whole-of-government approach is necessary to mobilise investment in support of digital transformation
The design and implementation of investment and digital policies in Uzbekistan involves a wide range of ministries and government agencies (see Figure 9.7). Implementing agencies often have narrow mandates and, in turn, higher degrees of specialisation. Given the multitude of actors, inter-agency co-ordination is essential to align policy efforts. Top-down approaches are frequently used to facilitate strategic and operational decision-making given the large number of actors involved. The extent to which government institutions co-ordinate and ensure policy coherence and alignment between investment and digital policies can enhance the chances of mobilising digital investment in the country.
The Ministry of Digital Technologies (MDT) is responsible for formulating and implementing policies to advance the country’s digital transformation. Its mandate includes the development of digital government services, the expansion of digital infrastructure, and the implementation of the Digital Uzbekistan 2030 strategy. The Ministry also supports the growth of the IT sector and promotes digital innovation, entrepreneurship, and digital skills development. MDT directly oversees several governmental agencies which are tasked with advancing the Digital Uzbekistan 2030 Strategy along with initiatives on emerging digital technologies and ICT infrastructure development. These agencies include the Digital Technologies and AI Research Institute and the Digital Economy and AI Research Centre. Their mandates focus on advancing e-government and fostering digital and AI technologies across key sectors. The Digital Government Project Management Centre was created through Decree No. UP-4699 to co-ordinate the different stages of implementation of digital reform programmes and develop areas of priority for digital development. The MDT should lead the co-ordination of digital reforms, with agencies having clear, non-overlapping mandates to avoid duplication with ministerial responsibilities. The IT Park, overseen by MDT, operates at the national level to support startups, promote exports of IT services, and enhance digital skills through training. The IT Park is an extraterritorial free economic zone which allows companies to operate as residents across Uzbekistan, with 14 branches serving as support centres and administrative hubs. It offers comprehensive support to IT companies and business service providers, administers investment incentives, and provides information on investment opportunities in the ICT services sector.
Other ministries and agencies with responsibilities influencing investment in support of digital transformation include Ministry of Investment, Industry and Trade (MIIT), Investment Promotion Agency (UzIPA), Ministry of Higher Education, Science, and Information, along with the Innovation Development Agency (IDA). The MIIT is tasked with formulating and implementing policies to attract and retain investment, promote industrial development, and facilitate domestic and international trade. It supports investors through a dedicated Investment Promotion Agency (UzIPA), offering information services, legal assistance, and co-ordination with public institutions and local partners. MIIT and UzIPA could strengthen their role in advancing digital transformation by developing digital sectoral strategies and prioritising investment promotion in key digital sectors. The Ministry of Higher Education, Science, and Information administers policies to improve digital skills and enhance regional technological capacity through skills development and upskilling programmes. The IDA complements these efforts by promoting youth engagement in scientific and innovation activities through state programmes.
UzIPA has limited capacity to target and prioritise specific types of investment, including in the digital sector. IT Park currently fulfils the main tasks of investment promotion and facilitation for ICT investors. Moreover, institutional overlaps, such as the one between the IT Park and the IPA in administering investment incentives in the ICT sector, create complexities, information asymmetries, and higher transaction costs. Strengthening co-ordination between UzIPA and IT Park would help ensure that investors are adequately informed of all relevant business support programmes (see Section on Clear investment priorities could help Uzbekistan target quality investments into digital sectors and technologies).
Inter-institutional co-ordination in Uzbekistan primarily takes place through presidential decrees, reflecting a top-down governance approach. While each ministry focuses on their respective mandates, cross-ministerial collaboration is fragmented. In practice, inter-ministerial co-ordination often occurs through programme specific working groups. For instance, the MDT and MIIT co-ordinate through thematic working groups when digital strategies include investment components. Enhanced co-ordination is particularly key for digital policies, given their cross-cutting nature. Adopting a whole-of-government approach supported by inter-agency councils, task forces, and formal communication channels can help address existing policy silos, while inter-agency working groups and joint programming at the implementation level can pool resources, foster co-operation and advance cross-cutting initiatives (OECD, 2023[4]; OECD, 2022[5]). For instance, in Denmark’s Agency for Digitalisation provides strategic guidance and maintains IT governance models through inter-ministerial project offices, supporting the Danish Council’s IT projects (OECD, 2016[6]). Similarly, Estonia’s, e-Estonia Council, co-ordinates inter-institutional collaboration, advises on digital policy, establishes expert committees, and working groups or commission studies (Government of Estonia, 2021[7])
Uzbekistan's Foreign Investors Council also serves as a platform for government-investor dialogue, aiming to identify investment barriers and improve the business environment. The Council operates through various working groups, including a working group on digitalisation and ICT, which provides a forum for addressing regulatory challenges, facilitating public-private collaboration on digital priorities, and supporting the alignment of digital policy with investor needs. Currently, consultations within the Council is largely limited to the private sector (i.e., large foreign companies, banks, and international financial institutions) highlighting an area for improvement (MIIT, 2019[8]). Broader participation from relevant ministries beyond MIIT, as well as other government agencies and private sector representatives, could strengthen the Council’s role as one platform for policy co-ordination on digital transformation.
Institutions with mandates on investment and digital policy
Source: OECD elaboration.
9.3.2. Uzbekistan has a coherent framework of national strategies to promote investment in digital transformation
Uzbekistan’s vision for digital transformation is outlined in its main strategy, Digital Uzbekistan 2030, and supported by various investment and sectoral strategies (see Figure 9.8). Digital Uzbekistan 2030 functions as a digital roadmap, focusing on key channels of digital development such as infrastructure, e-government, and adoption of digital technologies. It allocates public funds to support digital projects and scientific activity. However, the strategy lacks a dedicated section outlining specific investment objectives and the actions ministries should take to foster investment into digital sectors. To be effective, digital transformation strategies should adopt a whole-of-government approach, establishing clear policy priorities, investment goals, outlining actions for implementation, and addressing areas such as digitalisation of government services, enterprise digitalisation, ICT infrastructure development, and digital skills (OECD, forthcoming[2]). National digital strategies like Portugal’s Action Plan for the Digital Transition include key pillars on investment attractiveness which further emphasise digital development for enterprises and individuals (Government of Portugal, 2020[9]).
It is key for digital transformation strategies to ensure alignment of objectives across investment and digital development. In practice, this can entail integrating investment considerations within digital transformation strategies and vice versa. Though Digital Uzbekistan 2030 has brief mentions of the need to increase investment into digital-related sectors, it lacks a dedication section outlining what type of investment considerations are need. Introducing a dedicated section on investment attraction could strengthen the impact of Digital Uzbekistan 2030 and support more targeted investment in digital transformation. This section could define institutional responsibilities for investment promotion, specify the use of tax and non-tax incentives, such as those offered by the IT Park, and set clear investment targets, including quantified goals for investment in digital sectors.
Currently, digital investment considerations are scattered across different national strategies which creates confusion and decreases effectiveness of strategies. Broader frameworks such as Uzbekistan 2030 set clear growth targets for increasing investments into key sectors and industries. For example, the strategy expands strategic partnerships with key economies to increase investment and export of IT services and software products to USD 5 billion (Decree No. DP-158, 2023[10]). These objectives should be integrated or cross-referenced in the Digital Uzbekistan strategy to ensure alignment across strategic priorities and to consolidate all digital policy objectives within a single, coherent framework. Cross-referencing relevant strategies and policies with the Digital Uzbekistan 2030 strategy would help ensure policy coherence, particularly when decrees are issued by different institutions. Establishing a more centralised platform to consolidate all strategies, action plans, and decrees related to Digital Uzbekistan 2030 could improve transparency and accessibility for both investors and government agencies institutions.
Source: OECD FDI Qualities Mapping (2024).
Uzbekistan’s sectoral strategies could benefit from a stronger emphasis on investment considerations to ensure that investment priorities are adequately targeted towards priority sectors (see Box 9.2 for examples). Uzbekistan has thematic and sectoral action plans which target AI adoption. These action plans provide detailed guidelines on implementing measures and outline national priorities in specific digital domains. For instance, the Strategy for the Development of Artificial Intelligence Technologies until 2030 focuses on advancing AI technologies and AI related skills (Resolution No. RP-358, 2024[11]). It promotes digital skills across all population groups through online courses, remote learning, forums, and hackathons. The strategy also calls for specialised training programmes to develop a skilled workforce in both the public and private sectors. To support AI deployment, the strategy strengthens data processing infrastructure by expanding cloud services, establishing new data centres, and increasing computing capacity. Efforts will focus on improving the availability and quality of digital data, developing cloud-based data processing centres, and ensuring access to automated services nationwide (Resolution No. RP-358, 2024[11]). While this sectoral strategy provides a detailed outline for specific digital sectors it does not include investment-related provisions. Ensuring coherence between sectoral and investment strategies is essential, with investment considerations integrated into sectoral plans.
Digital transformation priorities should be integrated into Uzbekistan’s strategic investment policy framework. Currently, Uzbekistan has in place the Strategy of the Investment Policy until 2025, which aims to enhance the investment climate, attract foreign capital and increase investment efficiency. The strategy prioritises three key areas: improving the investment climate through greater transparency, stronger investor protection and enhanced trade logistics; strengthening domestic investment by building enterprise capacity; and attracting foreign investment through institutional support, proactive engagement and alignment with sectoral priorities. It also reflects a shift from traditional sectors towards high-technology industries and modern technologies that can enhance Uzbekistan’s competitiveness. However, it does not include specific provisions to promote and facilitate investment in digital sectors.
Developing a comprehensive investment strategy that integrates digitalisation priorities can help attract investment aligned with the country’s digital transformation goals (see Chapter 5). As the Strategy of the Investment Policy until 2025 nears its end, updating it to incorporate digital investment priorities could help mobilise investment in digital technologies. Moreover, strengthening alignment with Digital Uzbekistan 2030 through integrated policy dimensions can strengthen coherence and support Uzbekistan’s digital transformation goals. A revised strategy should define key target sectors (e.g. ICT services, electronics), priority activities (e.g. digital R&D), and investment types (e.g. greenfield FDI) to attract investment in support of digital transformation. Moreover, effective investment strategies define government objectives, outline reform plans to enhance the investment climate, and clarify the responsibilities of relevant institutions. When integrating digitalisation into investment promotion strategies, aligning target sectors with existing capabilities is key. For instance, Ireland’s 2022-2026 Trade and Investment Strategy positions investment as a driver of economic resilience by integrating digitalisation within its trade and investment frameworks, allowing them to further enhance digital government services and ICT infrastructure (see Box 9.2).
Egypt
Egypt’s National AI Strategy leverages AI to promote sustainable development and economic growth, structured around four pillars: AI for Government, AI for Development, Capacity Building and International Cooperation.
The strategy promotes public-private partnerships to drive innovation, support digital transformation and attract investment in AI-related R&D. It prioritises workforce development through targeted upskilling and reskilling initiatives, and encourages research collaboration with universities, research centres and the private sector. To stimulate domestic demand, the strategy includes measures to incentivise local sourcing of AI solutions. It emphasises the potential for AI to optimise business operations and unlock new opportunities, particularly within Egypt’s dynamic startup ecosystem. It further supports investment in data integration and machine learning to accelerate cross-sectoral adoption. Ultimately, Egypt’s National AI strategy aims to enhance government efficiency, transparency and service delivery, while addressing key sectoral challenges in areas of agriculture, healthcare and manufacturing.
Ireland
Ireland’s Trade and Investment Strategy 2022–2026 places digitalisation at the core of its approach to enhancing trade, strengthening global value chain integration and supporting the scaling-up of digital enterprises. The strategy outlines key workstreams, such as supporting enterprises across digital transformation, prioritising cybersecurity, and e-government initiatives, and integrating digital solutions across key sectors. Specific actions include fostering resilience in supply chains, enabling businesses adoption of digital solutions, and ensuring cybersecurity for all firms but in particular for SMEs. These initiatives are supported by the government’s national digital framework, which prioritises technological transformation across sectors. The strategy integrates digitalisation as a key factor in diversifying export markets, fostering innovation, and maintaining Ireland’s competitiveness. Lastly, through targeted investments in research, innovation, and digital infrastructure, alongside international partnerships, Ireland aims to achieve long-term growth and sustainability.
Source: OECD elaboration based on (OECD, forthcoming[12]) and (Government of Ireland, 2022[13]).
9.4.1. Creating an open and non-discriminatory regulatory environment in Uzbekistan can boost investment into the digital economy
Uzbekistan has taken significant strides in opening up to trade and investment, including broad legal and regulatory reforms since 2017 to improve the business environment (OECD, 2023[14]). Despite progress in fostering a favourable digital business environment that is aligned with international best practices, Uzbekistan maintains relatively strict restrictions on FDI in digital sectors (Figure 9.9, Panel A). While its digital sectors are less restricted than in peer comparators of Viet Nam, Kyrgyz Republic, and Tajikistan, they remain substantially more restricted in comparison to OECD and non-OECD averages. Moreover, restrictions tend to be higher across digital than non-digital sectors in Uzbekistan, a pattern also observed across peer Central Asia economies. In digitally intensive sectors, which include traditional industries increasingly adopting digital technologies and partaking in the broader digital economy, Uzbekistan performs on par with the non-OECD average and slightly above the Central Asia average, but remains well below the OECD average (Figure 9.9, Panel B). Demonstrating that room for improvement remains when it comes to reducing FDI regulatory restrictions.
Uzbekistan maintains relatively high restrictions in digital sectors, particularly in media activities, with significant foreign equity limitations that make it considerably more restrictive than the OECD average. Foreign equity limitations can often be used to safeguard critical infrastructure and maintain control over sensitive communication networks. In the media sector, high restrictions are typically linked to tighter equity caps and operational constraints to align public communication with national priorities (OECD, forthcoming[3]). In Uzbekistan, the Law on Media restricts the right to establish mass media to Uzbek legal entities and individuals, capping foreign ownership in radio, television and print media at 30% of authorised capital (Law No. 541-1, amended 2024[15]). Across digital-intensive activities, the most restricted sectors are telecommunications and media activities, finance and insurance, and professional services, all of which are subject to foreign equity and other regulatory constraints (Figure 9.9, Panel B).
Restrictions in digitally intensive sectors may create economic inefficiencies, such as capital misallocation and reduced competition, limiting innovation spillovers and digital economy growth. Policies that restrict foreign equity, impose screening requirements or constrain foreign investor operations may deter investment, particularly in key digital sectors. High barriers may also hinder greenfield projects, which are closely linked to quality job creation and skills development (Mistura and Roulet, 2019[16]; OECD, forthcoming[2]). In Uzbekistan, periodic reviews of foreign equity limits, screening requirements and operational constraints are essential to attract technological innovation, expertise and productivity gains from multinational firms (OECD, 2020[17]; OECD, 2024[18]). A more open market can further support digitalisation by fostering fair competition based on innovative and digitally enabled business models.
Note: Based on the ISIC Rev. 4 definition digital sectors include: i) manufacture of computer, electronic, and optical products (C26); ii) manufacture of electrical equipment (C27); iii) publishing activities (J58); iv) motion picture, video, and television programme production, sound recording, and music publishing activities (J59); v) programming and broadcasting activities (J60); vi) telecommunications (J61); vii) computer programming, consultancy, and related activities (J62); viii) information service activities (J63). The Central Asia average encompasses the following countries: Kazakhstan, Kyrgyz Republic, Tajikistan, and Uzbekistan.
Source: OECD FDI Regulatory Restrictiveness Index, 2023.
9.4.2. Uzbekistan’s legal environment can help promote digital-intensive investments
Uzbekistan's investment climate is governed by the Law on Investments and Investment Activities, which introduces key reforms to attract foreign capital, strengthen investor protection, and support economic development (see also Chapter 4). The law is further reinforced by government decrees, such as Measures to Stimulate Attraction of Direct Foreign Investments, which introduces tax benefits based on foreign investment volume and funds external infrastructure for large investment projects in the electronics and computer technology sectors. While follow-up measures to the Law on Investments and Investment Activities are important for keeping the law aligned with evolving policy priorities, they are often not clearly cross-referenced and can be difficult to locate, especially when issued at different times or by different agencies. To enhance transparency and accessibility, follow-up measures and decrees should be consolidated in a centralised platform with clear cross-references to the original law. This would streamline navigation for foreign and domestic investors, as well as government bodies, ensuring greater alignment between policy objectives and strategic plans across interrelated areas at the intersection of digitalisation and investment.
Uzbekistan’s legal framework provides a foundation for addressing challenges associated to emerging technologies and data protection (see Box 9.3), supporting digital trust through innovative policies and robust safeguards (OECD, 2022[19]). Uzbekistan introduced the Law on Personal Data, which defines the responsibilities of data owners, operators, and subjects of personal data, while outlining the powers of governmental bodies responsible for enforcement. The law addresses key areas such as consent for data processing, cross-border data transfers, anonymisation, and protection of sensitive data categories. This legislation adopts a whole-of-government approach that balances data access with robust safeguards, while integrating national and sectoral strategies that consider economic, social, cultural, technical, and legal factors that further strengthen data governance (OECD, 2022[20]). The law also requires that the localisation of personal data must take place within Uzbekistan, with compulsory domestic registration of databases. Non-compliance may lead to service restrictions. While such localisation requirements may generate short-term investment gains, as foreign firms establish local data centres, they can also introduce higher operational costs and may further deter market entry, ultimately limiting digitalisation. Furthermore, these restrictions may affect foreign investment into cloud services and reduce access for domestic firms, weaking potential innovation spillovers. To foster a more competitive digital economy, a gradual phasing out of localisation requirements could be beneficial.
Uzbekistan’s legal framework is advancing in the right direction, with commitments to data protection helping create a more predictable and investment-friendly environment (López González, Sorescu and Kaynak, 2023[21]). Balanced legal provisions offer greater regulatory certainty, which is key for investors in digital-intensive industries. Aligning privacy and data protection frameworks with international standards enables firms to scale operations while ensuring compliance. Strong legal protections in the spheres of cybersecurity, personal data, and competition can further foster innovation and provide legal certainty amongst foreign investors in the digital economy (OECD, forthcoming[2]). Similarly, establishing and maintaining clear legal standards and a well-structured regulatory environment helps reduce investment risks and supports the development of digital technologies and the broader digital economy.
Uzbekistan’s legal framework includes cybersecurity measures that strengthen digital trust and regulatory clarity, both essential for attracting private investment. The Law on Cybersecurity defines key concepts related to critical information infrastructure and supports cybersecurity entities through regulatory improvements, tax and customs incentives, funding access and targeted training initiatives. Additional support is directed towards promoting scientific and innovative activities in the field of cybersecurity, including through dedicated R&D funding, subsidies for investment projects, and support for initiatives aimed at enhancing critical infrastructure. Specific measures include assistance for the training and retraining programmes along with financial and informational support to organisations involved in capacity building. These legislative provisions aim to reduce investor risk, ensure operational continuity, and strengthen confidence in Uzbekistan’s digital environment, particularly in the context of emerging technologies and digital spaces (OECD, 2022[22]).
Uzbekistan has also taken steps to ease investment barriers in digital sectors and enhance its competitiveness in the digital market (OECD, 2023[14]). As digital markets evolve rapidly, leading firms can quickly gain market power, resulting in ‘winner-takes-all’ outcomes which greatly limit competition (OECD, 2022[23]; OECD, forthcoming[2]). Streamlined competition rules can help digital firms operate across jurisdictions by reducing fragmentation and compliance burdens, thereby encouraging investment and supporting innovation (OECD, forthcoming[2]). Uzbekistan’s revised Law on Competition introduced a regulatory framework for digital markets, prohibiting dominant platform operators from engaging in anti-competitive practices, such as imposing conditions on the use of information, technologies, or digital products (OECD, 2022[24]; President of the Republic of Uzbekistan, 2023[25]). Across the European Union several similar jurisdictions are at play which ensure a level playing field and market predictability in digital markets (see Box 9.3). For instance, the EU Digital Markets Act (DMA) imposes strict obligations on large digital platforms, such as the prohibition of self-preferencing, and the enforcement of apps and services interoperability (EU, 2022[26]). While the EU AI Act establishes binding compliance rules with clear definitions and enforceable protections to promote consistency and clarity across Artificial Intelligence use and technologies (European Commission, 2024[27]). Adopting and regularly reviewing legislation to reflect evolving needs and standards is essential for Uzbekistan to maintain a competitive, open and fair digital market.
The revised Telecommunication Law further improved the investment environment by abolishing licensing requirements for data transmission services in areas such as banking and online marketplaces and enhanced the protection of technological assets. Moreover, the revised Law established a regulatory authority which is a new independent legal entity solely responsible for regulating the telecommunication sector. Such reforms are important as they provide legal certainty for foreign firms operating in the digital economy. Additionally, provisions which focus on enforcement mechanisms reduce investment risks and foster a more favourable environment for technology development. Given the competition-related risks arising from digital platforms, the inclusion of competition-related provisions in laws can also help effectively address anti-competitive practices that may take place in digital markets (Anderson et al., 2018[28]; OECD, forthcoming[2]).
European Union’s Digital Markets Act (DMA)
The EU Digital Markets Act (DMA) identifies big digital platforms and imposes strict obligations, such as the prohibition of self-preferencing, and the enforcement of apps and services interoperability. It serves as a key regulation that promotes fair and competitive digital markets by imposing obligations on large platforms (called ‘gatekeepers’) offering core services such as search engines, app stores, or messaging that hold strong, lasting market positions and act as critical intermediaries between users and businesses.
Gatekeepers must provide business users with data access and advertising transparency, enabling external promotion and contracting and are prohibited from self-preferencing, restricting third-party services, blocking app uninstallation, or tracking users without consent. To ensure effectiveness, the European Commission can conduct market investigations, update obligations, and impose remedies in cases for systematic non-compliance. Working alongside existing competition rules, the DMA seeks to create a level playing field for business users and startups while enhancing consumer choice and data protection.
The European Union’s Artificial Intelligence Act (EU AI Act)
The EU AI Act provides a comprehensive framework for the development, deployment, and regulation of artificial intelligence systems across the European Union. The regulation addresses the key principles for AI governance such as safety, ethical use and risk management. It establishes governance and enforcement mechanisms at both national and EU levels along with future-oriented provisions for adapting to emerging technologies.
The Act aims to foster a controlled environment for responsible AI development, minimise potential risks, and enhance Europe’s position in ethical AI practices by setting clear obligations for providers and deployers based on risk levels associated with each AI application. It promotes regulatory consistency across Member States to reduce administrative burdens for businesses, and boost innovation.
The AI Act introduces hard requirements, standards, and procedures for compliance, with monitoring and enforcement responsibilities distributed between the European AI Office and Member States. The regulation’s risk-based approach sets enforceable obligations on high-risk AI systems and mandates conformity assessments prior to market deployment.
Source: OECD elaboration on (EU, 2022[26]), (European Commission, 2024[27]), and (OECD, forthcoming[2]).
9.5.1. Investment incentives could be evaluated regularly and complemented by capacity building and technical support
Uzbekistan increasingly employs tax and non-tax incentives to attract investment in digital sectors. Tax incentives are a widely used policy tool across OECD and non-OECD economies to encourage foreign investment in digital infrastructure and technologies (see Box 9.4 for more examples). According to the Tax Code of the Republic of Uzbekistan, a tax incentive is provided for e-commerce entities. Specifically, the corporate income tax (CIT) rate is set at 10% instead of the standard 15%, and the turnover tax is applied at a rate of 3% instead of 4%. A key condition for benefiting from these incentives is that at least 90% of the company’s total revenue must be derived from the provision of such e-commerce services (Resolution No. PP-14, 2021[29]). Enterprises engaged in computer programming and related services (i.e., data hosting and processing) are eligible for additional support under Decree UP-5099, including exemptions from all taxes and non-budgetary fund contributions, such as compulsory contributions to the Capital Accumulation Plan (CAP). Personal income tax on employment contracts is also fixed at a preferential rate of 7.5%, compared to the general progressive rate of 7.5% to 23%. Additional incentives include customs payment exemptions (excluding duties) on imported equipment, components, parts, documentation, and software not produced domestically.
Most tax and non-tax incentives targeting digital sectors in Uzbekistan are administered through the IT Park and are available exclusively to registered IT Park residents, with a focus on enterprises operating in fintech, e-government, e-commerce, Internet of Things (IoT), and game development. Decree No. DP-5099 grants the IT Park authority to provide residency status to firms and grant comprehensive incentives until 1 January 2028. To further accelerate the development of software, digital services and IT-enabled remote activities, and to enhance the export potential of domestic enterprises, benefits for IT Park residents were extended until 2040 through the Presidential Decree No. 157. Specifically, from 1 February 2025 to 1 January 2030, certain legal entities can benefit from concessions from CIT when providing IT services to residents of the IT Park, in cases where volume of export services exceeds USD 10 million (EY, 2025[30]). However, the effectiveness of such generous CIT incentives may be limited as they may distort competition with firms that are not part of the IT Park.
With IT Park residency, companies may operate from any region in Uzbekistan while retaining access to the full suite of incentives; additionally, a “virtual office” option allows resident companies to use an official IT Park address for registration and correspondence, even if their operations are located elsewhere. The comprehensive incentives include full exemptions or reduced rates on personal income tax, turnover tax, value-added tax, and social tax (Resolution No. 589, 2019[31]). Residents of the IT Park also benefit from custom duties exemptions (excluding processing fees) on imported equipment, components, technologies, and software that are not locally produced (see Table 9.1 for full list of benefits).
Note: The following exemptions are valid until January 1, 2028.
1. The exemption from all types of taxes and mandatory contributions apply to state funds including social tax.
Source: OECD elaboration on (OECD, 2023[32]) and (IT Park[33]).
In addition to tax incentives, IT Park offers a variety of non-tax incentives aimed at attracting foreign investment and supporting the growth of the IT sector. These include the IT Visa, a multiple entry visa valid for up to 3 years, designed to facilitate extended stays for foreign investors, IT professionals, and founders of IT Park residents (IT Park, 2023[34]). The Zero Risk Programme targets foreign IT companies entering the Uzbek market and aims to improve the business environment and boost export activities in IT sectors (IT Park, 2023[34]). The programme provides free regional office space for 12 months, reimbursement of up to 15% of salaries for Uzbek employees, a cash incentive of USD 500 for each citizen hired, and covers up to 50% of training and development expenses for up 100 employees, capped at USD 5 000. Additionally, the IT Park’s Digital Startups Programme, established under Presidential Resolution No. PP-357 (Resolution No. PP-357, 2024[35]), supports digital technology startups through various measures, including up to 50% reimbursement for incubation and acceleration costs, mentor fees, full coverage of intellectual property and patenting expenses, and collateral-free financial loans (IT Park, 2024[36]). Startups are also able to gain investments from IT Park Ventures.
Consultations with stakeholders shows that the IT Park plays an important role in attracting foreign investment into Uzbekistan’s digital economy. Its core focus remains on exporting IT services and Business Process Outsourcing (BPO) (Figure 9.10, Panel A). The share of firms with foreign capital rising from 7% to 24% between 2017 and 2024, reflecting growing international interest in Uzbekistan’s digital sector (Figure 9.10, Panel B) (IT Park, 2024[37]). This upward trend suggests that IT Park resident firms are becoming increasingly attractive to foreign investors. Moreover, the data indicates that IT Park incentives, both tax and non-tax, appear to be mobilising foreign investment and supporting export growth in digital services. However, where income-based incentives are administered (e.g. CIT exemptions, reduced CIT rates), Uzbekistan may consider gradually shifting towards expenditure-based incentives (e.g. tax allowances, tax credits), which are more likely to stimulate additional investment while minimising revenue losses (see Chapter 4).
Source: OECD consultation with IT Park, (IT Park, 2024[37]).
Firms operating in the digital economy that are not residents of IT Park have limited access to incentives, as most benefits are reserved for IT Park resident enterprises (OECD, 2023[32]). This may disadvantage smaller enterprises (i.e., SMEs), making it more difficult to attract digital investments thereby reducing their overall competitiveness. While IT Park has dedicated incentives targeting digital startups, digitalisation affects non-digital SMEs, which often lag behind in digital technology adoption due to barriers such as lack of resources, skills, and awareness (OECD, 2023[32]). Extending financial incentives to SMEs across all sectors can strengthen digital capabilities which is key to reaping the benefits of potential spillovers from FDI (OECD, 2023[4]). SMEs require a different set of support as opposed to larger firms. For instance, CIT incentives have the potential to incentivise larger digital firms to bring in advanced digital skills, technology transfer and employment opportunities (OECD, forthcoming[2]). However, SMEs require support which will allow them to cover the costs of accessing the basic digital tools (OECD, 2023[4]; OECD, 2023[32]). Expanding financial and non-financial incentives beyond IT Park residency through broader government programmes such as grants, subsidies, and indirect measures like training cost deductions can help level the playing field for firms across the digital and non-digital sectors.
Direct financial support can also be used to target specific types of R&D, particularly in digital sectors. Uzbekistan currently does not offer R&D incentives (Izvorski et al., 2020[38]), despite their widespread use as a tool to promote digital innovation. While direct funding allows governments to target high-priority digital areas, R&D incentives in the form of grants and loans can support a broader range of firms engaged in software development, database creation, and ICT equipment (OECD, 2022[39]; OECD, forthcoming[2]). Introducing digital R&D in the form of grants and loans could be further supported under one of the areas as investment similar measures in Uzbekistan could reduce upfront costs and accelerate the digital transformation of business operations.
Targeted incentives can address market failures and promote digital sector development and growth (OECD, 2023[40]). However, their effectiveness depends on regular assessments to ensure they remain well-designed, cost-effective and aligned with policy objectives. Periodic evaluations allow governments to adjust incentives based on observed outcomes and avoid unintended fiscal burdens. To evaluate the impact of incentives, Uzbekistan could begin by systematically estimating and regularly publishing the costs of tax incentives through tax expenditure reports (see Chapter 4).
Incentives are most effective when designed under the framework of a broader investment promotion strategy, one that highlights prioritised sectors and policy objectives for investment. This includes addressing cross-sectoral challenges such as workforce skills, e-government services and digital access for businesses. The government of Uzbekistan could consider embedding periodic reviews into legislation, such as Presidential Resolutions or Measures, and assigning clear institutional responsibilities. This would improve the coherence and effectiveness of incentives with national digital and investment strategies. While incentives can support digital development, they also present risks. Poorly designed incentives may distort competition, misallocate resources, reduce fiscal revenues, increase administrative burdens and prove ineffective in attracting new investment (OECD, 2022[5]; OECD, forthcoming[2]). To mitigate these risks, incentives should target clear barriers to investment, such as high fixed costs for infrastructure, digital skills shortages or the need to support network effects in digital ecosystems (OECD, forthcoming[41]; OECD, forthcoming[2]).
Investment incentives targeting digital R&D and technology adoption: The case of Malaysia
Malaysia's Digital Tax Incentive aims to foster growth in the digital economy by attracting both foreign and domestic investments in key technology sectors like cloud computing, cybersecurity, e-commerce, AI, and IoT. Launched under the Malaysia Digital (MD) framework, the initiative offers up to 100% income tax exemption for up to 10 years or an Investment Tax Allowance (ITA), offset against 70% of statutory income (MDEC, 2023[42]). The MD incentives framework has been quite successful since its launch. In 2023, 256 companies benefited from digital tax incentives, which collectively facilitated MYR 46.22 billion (about USD 9.9 billion) in digital investments, surpassing the initial target by 54% (MDBC, 2024[43]). The initiative also led to the creation of 22 258 high-value jobs and contributed MYR 8.87 billion in revenue, exceeding expectations by 18%. In the absence of a formal impact assessment, however, it is unclear to what extent these outcomes can be directly attributed to the incentive itself. The benefits should also be weighed against the associated costs to assess the overall value of the initiative.
Businesses can also apply for Malaysia Digital Status (MDS), which grants benefits like duty exemptions. The programme fosters innovation and talent development through R&D grants and the development of Digital Hubs, which provide infrastructure and networking support for startups and MNEs across sectors such as FinTech, advanced manufacturing, digital health and smart cities.
Investment aid scheme to encourage digital investments in support of regional development: The case of the Slovak Republic
The Regional Investment Aid Scheme is one of the main tools used by the Slovak Government to support investments that contribute to regional economic development and help local economies move towards more digital-intensive activities. The scheme provides aid in the form of grants for tangible and intangible fixed assets, corporate income tax relief, wage subsidies for newly created jobs and discounts in the renting or selling of real estate; and explicitly supports investments in technologies such as robotics, cybersecurity, AI, cloud computing and IoT as well as augmented reality (OECD, 2022[39]). By incentivising projects that focus on industrial production, technological centres, and business services centres, the scheme actively promotes digital innovation as a cornerstone of regional development.
Source: OECD elaboration on (MDEC, 2023[42]).
9.5.2. Align digital skills programmes with labour market needs to promote inclusive access to upskilling opportunities
Digital skills programmes are key for mitigating digital skills shortages. Uzbekistan’s skills development policies are aligned with Digital Uzbekistan 2030 goals and labour market needs. The policies are cross-cutting in nature and support broader national objectives to ensure that public investment meets the scale of digital transformation (OECD, 2024[44]). Resolution No. RP-51 introduced in 2024, establishes specialised schools, integrates IT into the curricula, and strengthens digital skills (OECD, 2024[45]; Resolution No. RP-51, 2024[46]). The initiative promotes upskilling as a core component of Uzbekistan's digitalisation strategy, aligning workforce training with the needs of foreign IT firms and enhancing the country's attractiveness for investment in IT-enabled services, while helping to address the digital skills gap by providing resources and training at the national level. To support implementation, Resolution of the Cabinet of Ministers No. 86 introduced a subsidy programme to non-governmental educational institutions for each graduate employed in an IT service-exporting organisation (IT Park, 2024[47]).
Training programmes in Uzbekistan should mutually strengthen the skills of all individuals to meet the demands of digital transformation. Training programmes such as One Million Uzbek Coders implemented in collaboration with MDT, IT Park, Udacity, Ministry of Public Education, and Dubai Future Foundations help build a digitally skilled workforce equipped to respond to the evolving needs of domestic and global labour markets (UzbekCoders[48]). The programme provides free distance learning courses in data analytics and computer programming (Asian Development Bank, 2023[49]). Such initiatives promote a more inclusive digital environment by enhancing the digital capacities of the domestic workforce and ensures equal access to training opportunities.
Going forward, Uzbekistan should prioritise policies that promote lifelong learning to ensure that workforce skills keep pace with the digital transformation and evolving labour market needs. Digital skills strategies should also target vulnerable groups, including those transitioning between jobs, by focusing on reskilling in key digital sectors. Aligning digital skills policies with national investment objectives can help ensure that upskilling efforts support broader economic priorities and goals. Regular consulting with the private sector is also essential when designing national programmes targeting digital skills, as this ensures that future strategies and programmes reflect current and future labour market needs (OECD, 2023[32]). These consultations should involve stakeholders from both digital and non-digital sectors to ensure policies support the digitalisation efforts of all enterprises. Ultimately, such co-ordination and alignment are essential to addressing digital skills gaps through targeted training and resources at the national level.
Uzbekistan has increasingly focused on promoting digital skills development among women, recognising its importance for an inclusive digital transformation. Programmes such as the Youth Digital Skills Programme from Ministry of Economic Development, UNDP, and IT Park strengthen digital skills and entrepreneurship, particularly among women (UNDP, 2022[50]). The programme offers short-term digital literacy training and subsidised course fees for women attending private vocational centres, including in less developed regions, and supports foresight-based research on emerging skill needs (Asian Development Bank, 2023[49]). Other initiatives like Expanding Opportunities for Youth in Developing the Digital Economy and Digital Entrepreneurship, equip women with digital tools to boost their employability and competitiveness (Ministry of Economy and Finance, 2025[51]). In the future, Uzbekistan should consider expanding policy measures to support the participation of women in the digital economy (OECD, 2023[32]). This could involve reviewing existing digital programmes to incorporate gender components, increasing women’s participation in digital skills initiatives, and enhancing their access to financial support for entrepreneurship in digital sectors. Such initiatives will further support both domestic and foreign firms’ talent needs while promoting gender inclusion in the digital economy (see Box 9.5 for more examples).
Viet Nam’s Empower Her Tech Programme: co-organised by UNDP and Alobase, aimed to enhance digital skills among young women entrepreneurs from underrepresented communities in Viet Nam. The programme was launched in December 2023 and addressed barriers such as limited access to digital resources and gender disparities in technology. Over 10 online sessions were provided where trainees gained foundational knowledge of AI, no-code tools like Wix, and design software such as Canva, improving their business capacities. The initiative is in line with Viet Nam's national digital transformation agenda, fostering inclusive participation in the digital economy.
Egypt’s Women Entrepreneurship Programme: launched by the Technology Innovation and Entrepreneurship Centre (TIEC) of Egypt’s Information Technology Industry Development Agency (ITIDA). This free initiative provides training on startup methodologies and hands-on project development. It specifically targets women-led ventures related to ICT, such as websites, mobile apps, and IoT-powered platforms. A key feature of the programme is the Heya Raeda Programme which covers topics such as business modelling, finance, marketing, and technology, with personalised mentoring to help participants strengthen their technical skills. Heya Raeda is for young women entrepreneurs with IT or IT-enabled business ideas.
Source: OECD elaboration on (OECD, forthcoming[2]), (UNDP, 2024[52]), and (TIEC[53]).
Partnerships with foreign multinational enterprises (MNEs) remain limited in Uzbekistan. Domestic large enterprises such as Uzum, the nation’s first tech unicorn, have entered a partnership with UNDP to address the shortages of digital and financial literacy skills, amongst women and young people (UNDP, 2024[54]). Uzum has also signed an MoU with the Ministry of Digital Technologies (MDT) to develop joint educational programmes in the areas of programming, cybersecurity, and AI (MDT, 2024[55]). Expanding partnerships with international firms can further strengthen digital skills development (OECD, 2023[32]). Foreign firms tend to offer more upskilling opportunities than domestic firms and play a key role in workforce training (OECD, forthcoming[2]). Engaging in partnerships with foreign firms is key, given their higher skills intensity and capacity to establish training centres and digital upskilling programmes. Uzbekistan should incentivise firms to invest in employee skills training by offering grants and leveraging their insights into local skills gaps (OECD, 2022[5]). Expanding partnerships like the one with Uzum to include foreign MNEs could introduce innovative approaches to talent development. For example, in Viet Nam, a Korean MNE partnered with the National Innovation Centre to establish an Innovation Campus offering courses in AI, IoT, and Big Data to train semiconductor engineers. Graduates gain access to job opportunities at the MNEs R&D centre, demonstrating the value of such public-private partnerships in building workforce skills (OECD, forthcoming[56]).
The investment community can play an important role in advancing digital skills development initiatives. Across many OECD and non-OECD economies, investment promotion agencies (IPAs) support digital skills programmes in co-operation with relevant partners. In Uzbekistan, however, the IPA has limited involvement in digital skills development. Strengthening the role of the IPA could be beneficial, given its unique understanding of foreign firms’ needs. Greater collaboration between UzIPA, MNEs, IT Park, and the Ministry of Digital Technologies (MDT) could support domestic firms by lowering training costs, improving access to skills development programmes, aiding talent attraction, and linking enterprises with specialised upskilling and reskilling providers (OECD, 2022[5]; OECD, forthcoming[2]). For example, in Ireland, IDA Ireland and Skillnet Ireland have partnered to address digital skills gaps and support enterprises though targeted training, including a Master’s in Artificial Intelligence, and by fostering SME and MNE collaboration to drive digital innovation (see Box 9.6).
Uzbekistan does not have a comprehensive skills anticipation system, which is key for attracting more skill intensive investment and supporting the development of a broader set of digital skills. The absence of a comprehensive skills anticipation system hinders digital skills development, as policymakers are unable to assess evolving labour market needs. Establishing such a system would help identify skills gaps and support the design of targeted upskilling policies, improving alignment between workforce capabilities and firm requirements (OECD, 2023[32]). Skills anticipation systems rely on strong co-ordination among ministries, IPAs, and other stakeholders, supported by national tools and frameworks (OECD, 2022[5]). These systems can help address skills gaps in digital sectors by identifying future imbalances which in turn reduce job displacement and generate a highly skilled workforce equipped for the digital transition (OECD, 2023[40]; OECD, 2016[57]). Uzbekistan lacks real-time data on changing skills needs, as no regular surveys on skills needs are conducted (Asian Development Bank, 2023[49]). Enhancing and developing a more robust national system for quantitative digital skills forecasting is essential (OECD, 2023[32]). Efforts are underway to address the need for quantitative digital forecasting through the establishment of the Institute for Labour Market Research (https://www.ilmr.uz) which oversees conducting skill needs assessments. Further strengthening skills anticipation systems will be key to garner more digital investments.
Digital skills development is aligned with foreign investors’ requirements in Ireland’s ICT sector
Ireland’s investment promotion and skills development agencies, IDA Ireland and Skillnet Ireland respectively, have developed a range of initiatives to bolster digital skills, particularly to support the talent needs of FDI companies. Their collaboration aims to prepare the Irish workforce with essential skills in areas like data analysis, artificial intelligence (AI), and other digital competencies that are increasingly required in non-IT roles across multiple industries. In 2024, they published a joint study to assess the digital and data skills gaps in non-IT roles, finding significant needs in areas like data analysis, digital problem-solving, and document design (Skillnet Ireland, 2024[58]). This report serves as a basis for tailored training initiatives designed to equip employees with skills relevant to the ongoing digital transformation in Ireland’s economy.
The Strategic Talent Development Programme is another key collaboration, providing upskilling and reskilling resources to both multinational and SME clients (Skillnet Ireland, 2024[59]). This programme supports FDI companies in implementing long-term talent strategies that align with emerging digital demands. Additionally, through The Innovation Exchange and the Disruptive Technologies Partnering Portal (DTTP), IDA Ireland and Skillnet Ireland connect multinationals with Irish SMEs. This platform facilitates partnerships where SMEs propose digital solutions to the technology needs of larger firms, helping to drive digital innovation across sectors. In response to the increasing importance of AI, Skillnet and IDA have also partnered to launch a master’s programme in Artificial Intelligence at the University of Limerick, which addresses the growing demand for AI expertise among Irish and international tech companies (IDA Ireland, 2018[60]). This advanced programme, developed with input from industry leaders, is part of Ireland’s strategic approach to establish itself as a hub for high-tech talent and AI development, ensuring a strong foundation for both current and future FDI-driven digital initiatives.
Source: OECD elaboration.
9.5.3. Clear investment priorities could help Uzbekistan target quality investments into digital sectors and technologies
Across OECD and non-OECD economies, IPAs play a central role in attracting digital investment into high-potential sectors. In recent years, Uzbekistan has taken steps to strengthen its investment promotion efforts, including creating a central digital hub which offers comprehensive information on legal frameworks, sector data, and investment opportunities (OECD, 2024[61]). UzIPA has promoted the country’s growing digital economy, leveraging its tech-savvy population and the expanding role of IT Park (UzIPA[62]). UzIPA can further enhance its impact by developing clear and tailored prioritisation frameworks to include digital sectors.
Investment promotion across digital technologies and sectors remains fragmented. UzIPA does not have any priority sectors, limiting its ability to strategically support the country’s digital transformation. Developing a comprehensive investment prioritisation framework would enable UzIPA to proactively target high-potential segments of the digital economy. Such a framework should include a clear criteria aligned with national digital and investment strategies, allowing for more tailored promotion and efficient allocation of resources. Engaging with stakeholders from the digital sector through regular consultations is also key to ensure that the IPAs address the specific needs and challenges of the industry. Given the fast pace of technological change, the framework should be reviewed regularly to remain responsive to evolving priorities (OECD, 2023[40]).
Digital transformation is reshaping how IPAs prioritise activities, engage investors and evaluate opportunities. This includes the use of automated technologies for investor support, artificial intelligence (AI) to target firms, and data-driven tools for assessments (OECD, forthcoming[2]). For example, UzIPA offers a searchable database of ongoing and prospective projects and enables easy online application submissions, streamlining the investment process. The IPA also promotes opportunities and maintains investor relations through digital outreach across social media and one-on-one virtual consultations (OECD, 2024[61]).
Artificial intelligence offers further opportunities for UzIPA to improve efficiency by enhancing data analysis, investor outreach and service delivery, while optimising operations and resource allocation (OECD, forthcoming[2]). AI tools can support e-consulting services to guide investors on company registration, taxation, and work permits. UzIPA has already taken steps in this direction, including the development of an interactive investment map with district-level data on sectoral composition, ICT infrastructure, and regional export potential. In addition, the investment offers platform was revamped in 2024 to provide up to date information on ICT and digital sector projects. Fully leveraging AI in investment promotion can improve service delivery, increase investor satisfaction, and strengthen long-term engagement.
UzIPA supports investment facilitation by improving transparency, predictability, and efficiency of the administrative procedures. For example, an investor’s guide is provided with information on licensing requirements and procedures across sectors, including digital activities (OECD, 2024[61]) Expanding this guide to cover all required approvals and compliance processes could reduce transaction costs and streamline business setup for digital investors. Offering more support in securing permits and clearances to investors is key, particularly for those related to data protection, cybersecurity, and telecommunications regulations (OECD, forthcoming[2]). Additionally, close co-ordination with IT Park to share information on available business support programmes is essential.
As Uzbekistan seeks to diversify the type of FDI it attracts, particularly in digital sectors and technologies, further digitalisation of compliance processes related to business registration, permitting and investment procedures could help reduce uncertainty and administrative burdens for investors (OECD, 2023[63]). According to a recent OECD survey of Investment Promotion Agencies (IPAs), investment authorisation procedures in Uzbekistan can only be partially completed online, in contrast to most OECD economies where both authorisation and payment processes are fully digitalised (Figure 9.11, Panel A). However, Uzbekistan has successfully digitalised all investment-related payment systems, enabling investors to complete payments electronically (Figure 9.11, Panel B).
Note: Panels A and B present the share of IPAs that responded “yes”, “partially” and “no” to the questions of the OECD Survey on Investment Promotion.
Source: (OECD, 2024[61])
To strengthen its investment promotion and facilitation efforts, UzIPA should enhance its co-ordination with IT Park to ensure that investors are aware of relevant business support programmes and can be directed to appropriate service providers. UzIPA should take a more active role in investment facilitation and aftercare, particularly in addressing the specific needs of digital investors, such as data governance, regulatory clarity, and access to skilled labour. As this can play a key role in closing information gaps, promoting awareness of digital investment opportunities, and improving transparency around the national digital ecosystem. Making regulatory information easily accessible can reduce investor uncertainty and demonstrate a commitment to a digital-friendly business environment. These efforts should be closely co-ordinated with IT Park.
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