Uzbekistan Courts Egyptian Outsourcing Firms with 10-Year Tax Holiday
Uzbekistani government entities have initiated outreach to local outsourcing companies, showcasing the enticing incentives offered to foreign businesses seeking to establish operations within their borders.
According to local and international companies interviewed by “Ta3heed” newsletter, Uzbekistani officials have highlighted competitive advantages such as a 10-year tax holiday and full coverage of operational costs during the first year.
Uzbekistan, a landlocked country in Central Asia, is part of the Turkic world and a member of the Turkic Council.
Russian serves as a lingua franca among ethnic groups and is used in government. The Uzbek economy is gradually transitioning towards a market-based system, with a focus on import substitution.
A major producer and exporter of cotton, Uzbekistan also possesses substantial Soviet-era power generation facilities and vast natural gas reserves, making it the largest electricity producer in Central Asia since 2018.
The business process outsourcing (BPO) market in Uzbekistan is projected to reach $0.57 billion by the end of 2024, with expectations to grow to $0.99 billion by 2029. The average spending per employee in the BPO market is forecasted to reach $39.32 in 2024.
