On December 16, the official opening ceremony of IT Park Uzbekistan’s representative office took place in Riyadh, marking a significant milestone in strengthening the partnership between Uzbekistan and Saudi Arabia in the field of information technology. The event was held at the innovative space The Garage in Riyadh, with the support of Plug and Play Riyadh.
Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, delivered a keynote address at the opening ceremony. “The bilateral ties between the innovation ecosystems of Uzbekistan and Saudi Arabia are rapidly gaining momentum, reflecting the growing interest of MENA region partners in our country’s dynamically developing technology sector,” noted Sherzod Shermatov. He also emphasized that such initiatives not only strengthen economic cooperation but also contribute to the creation of new jobs, opening opportunities for professional growth and the development of local specialists.
All participants were welcomed by Nodirjon Turgunov, the Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to Saudi Arabia.
“The opening of the IT Park representative office in Riyadh is not just an important step but a new horizon for cooperation. We are confident that this initiative will serve as a catalyst for deepening partnerships, accelerating market integration, and unlocking unique opportunities for both ecosystems,” emphasized Farkhod Ibragimov, CEO of IT Park, in his welcoming speech.
The event also featured speeches by Mohammed Al-Ghamdi, Director of Partnerships at Plug and Play Tech Center; Rajit Nanda, CEO of DataVolt; and Muzaffar Karabayev, founder and investor of kpi.com, zip24.com, and Financial IT.
Rajit Nanda highlighted the potential for collaboration: “Uzbekistan's technology sector is growing rapidly, and at DataVolt, we are witnessing this progress firsthand by investing in the construction of high-capacity green data centers. This is a clear example of the country’s pace and level of development, underscoring its readiness to become a key global tech hub.
During the event, attendees were introduced to Uzbekistan's key IT support programs and its business environment, including the emerging startup ecosystem and the favorable conditions being created for its development.
Notably, this year IT Park Uzbekistan successfully showcased the country’s startup ecosystem at BIBAN-2024, where 12 startups were presented. Additionally, the Uzbekistan Tech Conference and a series of pitch sessions for international startups were held in Riyadh. These initiatives significantly increased Saudi investors’ interest in local Uzbek projects.
Furthermore, the partnership between the two countries is being reinforced through joint projects, such as the construction of Green Data Centers in collaboration with DataVolt (a part of Vision Invest holding), which plans to invest $5 billion in this project.
The opening of IT Park’s representative office in Saudi Arabia marks an important step in strengthening the international ecosystem for startups and attracting foreign investments. The office will facilitate cooperation in digital technologies, promote knowledge exchange, support innovative projects, and provide opportunities for Uzbek companies to expand their horizons on the global stage.
The IT Park representative office in Saudi Arabia will serve as a bridge supporting cooperation and knowledge exchange between the innovation ecosystems of the two countries while unlocking the following opportunities:
- Simplified access to the Central Asian market with a population of over 80 million for GCC region startups through Uzbekistan;
- Support for Uzbek startups to enter the GCC market with a population of over 60 million;
- Co-investments at pre-seed and seed stages for promising startups;
- Cost reduction opportunities for ITes companies from the GCC region through back-office support in Uzbekistan.
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