Uzbekistan, Azericard Sign Moc For Joint Venture Capital Dev't

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, December 1. Uzbekistan's IT Park and Azerbaijan's Azericard processing center have signed a Memorandum of Cooperation for the development of the startup industry and the joint venture capital sector, Trend reports.

The document was signed by Deputy Director of Uzbekistan's IT Park Fayzulla Aripzhanov and Director of Azericard Farid Guliyev.

Uzbekistan's IT Park said in a statement that the parties agreed to mutually support startups in scaling up in the markets of the two countries. The memorandum also stipulates cooperation in the fin-tech sector.

Meanwhile, speaking at the InMerge Innovation Summit in Baku, Minister for Development of Information Technologies and Communications of Uzbekistan Sherzod Shermatov said that Uzbekistan sees ICT as a driving force for its post-economic growth.

"Uzbekistan has been actively working to create favorable conditions for IT companies since 2017. The country features an innovative environment known as IT Park, where businesses can become residents and be tax-exempt. IT workers also pay lower taxes than workers in other industries," he added.

According to the minister, Uzbekistan has set a goal of increasing the number of IT specialists by 2030.


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