Azamat Karamatov
CEO OF IT PARK UZBEKISTAN
Innovation & Technology I Interview I Uzbekistan 2026

_BIOGRAPHY Azamat Karamatov is Chief Executive Officer of IT Park Uzbekistan, having previously led IT Park Ventures and served as Head of the Main Directorate for Digital Economy Development at the Ministry of Digital Technologies. He holds degrees from Tashkent University of Information Technologies and the Academy of Public Administration.
“BY ANCHORING THE ECOSYSTEM IN ENGLISH COMMON LAW AND GUARANTEEING THE REGIME UNTIL 2100, WE GIVE COMPANIES MORE THAN SEVEN DECADES OF PREDICTABILITY.”
WHICH DECISIONS PRODUCED THIS ACCELERATION, AND WHAT SIGNALS GENUINE ECOSYSTEM MATURITY?
The growth is the result of deliberate, system-level decisions. Over the past two years, we shifted from building infrastructure to activating the ecosystem itself. Four choices did the heavy lifting. First, we kept Uzbekistan competitive with a stable incentive framework for IT Park members: 0% corporate tax, 0% social tax, 0% VAT on exported digital services, and full profit repatriation.
Second, we removed friction at entry through a one-stop-shop covering legal, tax, HR, operational, and relocation support, which cut time to market for local and international companies alike. Third, we widened international positioning through roadshows, partnerships, a larger presence abroad, and direct pipelines to buyers. Fourth, we treated talent as a scalable asset, with education aligned to real market demand in AI and software engineering. I
T Park now functions as an operating system for growth. On maturity, headline numbers are not enough. The real test is whether the system can sustain itself without artificial stimulus.
WHAT DOES ENTERPRISE UZBEKISTAN OFFER THAT KAZAKHSTAN OR THE UAE LACK?
What sets Enterprise Uzbekistan apart is its foundational DNA. Jurisdictions like DIFC or AIFC are successful, but they were designed as financial centres that later adapted to technology.
Enterprise Uzbekistan is the opposite. It is the world's first jurisdiction built natively for modern business and AI. We are not offering another preferential zone or a set of temporary incentives. We are introducing a new category of global jurisdiction.
There are virtually no other examples today where English common law, regulatory frameworks, operational environments, and investor protections were architected around the specific demands of AI-driven and advanced technology businesses.
Other regions treat regulation as a static framework. Ours is built for rapid adaptation to technological shifts. By anchoring the ecosystem in English common law and guaranteeing the regime until 2100, we give international companies something unprecedented: a zero-friction platform with more than seven decades of predictability.
WHAT DOES A FUNCTIONAL UZBEK VENTURE MARKET LOOK LIKE BY 2030?
The vision is clearly defined at the national level. Presidential Resolution No. RP-59, signed 11 February 2026, sets targets to build an ecosystem of over 5,000 startups, attract up to $2 billion in venture investment, and develop a strong pipeline of scalable companies. That includes 500 valued above $1 million, 100 above $10 million, and 25 above $100 million. The strategy also creates 20,000+ jobs, supports 2,000 youth-led startups, and pushes at least 400 companies into international markets.
Capital is already becoming more accessible across stages. Local and international funds are increasingly active, and startups now benefit from a four-stage model that covers everything from idea generation to global scaling. The key structural gap is the scale of private capital participation.
Public funding has built a strong foundation. Long-term sustainability will depend on attracting a broader base of private LPs, including global investors, corporates, family offices, and sovereign partners. Closing that gap is what unlocks larger deals and a more mature venture market.
YOUR MESSAGE TO GLOBAL INVESTORS INTERESTED IN UZBEKISTAN?
Uzbekistan's Digital 2030 strategy reflects a long-term commitment to a competitive digital economy. The fundamentals are already in place. The country has a population of over 38 million. Literacy is 100%, the demographic is young, and more than 100,000 graduates enter the workforce each year, including a growing number of ICT specialists.
The youth is multilingual, speaking an average of three languages, supported by a rising presence of international universities and globally oriented programmes. IT services exports exceeded $1 billion in 2025, and the number of ICT professionals continues to grow toward the national target of 300,000.
To the 165,000 international investors in The Investor's network, this is a combination of scale, cost efficiency, growth potential, and regulatory clarity inside a government-backed environment. To the global technology companies still watching, the cost of waiting is rising. Early movers are already securing talent and integrating into the market. Those who engage now will also help shape it.
