IT Park residents' export volume increased by 4.4 times

17 August, 2022

 

In the first half of the year, 249 companies received IT Park resident status.  The growth rate, compared to the corresponding period, was more than 300%, and now there are 747 resident companies in the IT Park.  Among those operating in the foreign market are 203 companies, which is 2.7 times more than in the previous period. 

Exports by IT Park residents also grew 4.4 times compared to the previous period, amounting to $53.2 million, with 88% of residents' exports coming from the USA and the rest from the UK, Germany, CIS countries and the UAE. Sales to other countries are expected to reach $100m by the end of 2022.

The companies' areas of activity include:

— software development;

— data processing;

— business process automation;

— IT training, as well as information technology exports.

The Startup Central Eurasia platform had previously spoken to Shakhzod Narzullaev, manager of IT Park. The specialist described the kind of support IT Park provides to startups: 

"Income tax for residents drops from 12% to 7.5%. The rest of the taxes are zero. Residents can make all domestic transactions in foreign currency, and for personal use they can import appliances or products without customs duty. So, today we have 665 residents. And we adhere to the logic that there is no need to enter a startup's share. It is better to put a startup on its feet and take it on as a resident. And it will be a win-win for everyone", – specialist mentioned.  

Thanks to the incentives provided, IT Park residents are creating more jobs and increasing the number of IT professionals in the country. At the end of Q2 this year, for example, resident companies employed 12,500 people. This increased the number of additional jobs compared to the same period by 167%.

IT Park notes that 74 companies were deprived of their resident status, while another 110 were denied the status.

 

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