Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan has established minimum export indicators for large IT Park residents. This was announced by the Minister of Digital Development Sherzod Shermatov.

According to the minister, the Government of Uzbekistan adopted a corresponding resolution on 29 May.

These requirements apply to large residents of the technology park with annual revenues of 100 billion soums.

The minister noted that the new requirements will not apply to startups and small IT companies. They will only be covered by these measures after reaching the specified threshold.

According to the resolution, from 1 October 2024, exports must account for at least 10% of the total income of large residents.

In addition, from January 2026 the minimum level increases to 20%, from 2027 - to 35%, and from 2028 - to 50%,

Companies that do not reach their target export levels will be required to contribute additional funds to export support initiatives for small residents. Their fees will be increased by 1%.

Sherzod Shermatov said that President of Uzbekistan Shavkat Mirziyoyev supported the idea of extending benefits for large exporters of IT services beyond 2028.

Companies that have increased the share of foreign sales in their revenue to 50% by this point will be able to enjoy benefits until 2040, the minister noted.

According to the IT Park directorate, in 2023 residents exported services worth US$344 million, which is just over a third of total revenue. More than 40% of exports went to the USA, another quarter to the UK and the EU.