Ministry of Digital Technologies of the Republic of Uzbekistan

A delegation from the Ministry of Digital Technologies and IT Park Uzbekistan visited the Kingdom of Saudi Arabia and the Sultanate of Oman, holding meetings with government bodies and leading technology companies. 

The discussions focused on localizing services, launching joint projects, supporting startups in Uzbekistan, attracting investment, and increasing the export of IT services to the Middle East.

Elm Company: IT services export and startup ecosystem development

In Saudi Arabia, the delegation met with Hakim Al-Rashid, General Director for International Business at Elm Company. The talks covered joint projects, IT service exports, and the development of the startup ecosystem. 

Discussions also addressed public service digitization, cooperation with major Uzbek integrators, including UZINFOCOM, and Elm’s registration as an IT Park resident to operate in Uzbekistan and export services. Opportunities for IT Park to enter the Saudi market and support Uzbek startups through incubation, mentoring, and investment were also reviewed.

Elm Company is a leading Saudi IT enterprise specializing in digital solutions, cybersecurity, data analytics, and e-government services. Headquartered in Riyadh, it employs over 1,000 people and works closely with government agencies.

RAM Systems: Uzbekistan as an outsourcing hub

The delegation also met with Raid Marglani, CEO of RAM Systems, to discuss the company’s plans to open representative offices in Margilan and Kokand. Upon becoming an IT Park resident, RAM Systems will gain access to tax incentives, infrastructure, and recruitment support.

RAM Systems is a Saudi technology and engineering firm based in Riyadh, providing digital consulting, engineering solutions, licensing, and training services. The company employs about 50 people and serves both private and public sector clients.

Saudi Technology Ventures: Startup investment and venture platform development 

Two meetings were held with representatives of the Saudi Technology Ventures (STV) venture capital fund — the first with Chief Executive Officer Abdurakhmon Tarazuni, and the second with Partner and Chief Operating Officer Luca Barbi. 

Discussions focused on potential cooperation and building links with other major venture funds, including Saudi Venture Capital (SVC). STV confirmed its readiness to recommend IT Park Uzbekistan to its partners and facilitate meetings with investors.

Founded in 2016 and headquartered in Riyadh, STV invests in companies transforming industries across the MENA region, including fintech, logistics, and e-commerce. The fund plays a key role in advancing Saudi Arabia’s digital economy and actively supports the implementation of the national “Vision 2030” strategy.

MISA: Joint initiatives in gaming and creative industries

One of the central events of the visit was a meeting with the Ministry of Investment of Saudi Arabia (MISA), represented by Head of International Relations Faisal Ba Abdullah and Strategic Advisor to the Minister Rakan Alwutayd. The sides agreed that MISA would assist IT Park Uzbekistan in establishing business contacts with Saudi companies and organizations. 

The talks also addressed the development of the gaming and creative industries, with MISA noting the rapid growth and significant potential of Uzbekistan’s game development sector. The Ministry expressed readiness to support partner search and investment attraction in these areas.

MISA serves as the Kingdom’s primary state body for attracting and supporting foreign investment, playing a key role in diversifying the national economy and promoting cooperation with international partners.

NEOM: Innovation exchange and joint project launch

A meeting was held with Wyatt Roy, Head of Innovation at NEOM, to discuss cooperation prospects in developing the startup ecosystem, running joint acceleration programs, and deploying advanced technologies.

The exchange of experience between NEOM startups and IT Park Uzbekistan residents was considered, alongside participation in major international exhibitions such as GITEX, LEAP, and Web Summit. Discussions also covered the potential to base R&D teams and software developers for NEOM in Uzbekistan, benefiting from tax incentives and access to skilled professionals.

NEOM is a $500 billion smart city and economic zone project in Saudi Arabia, designed to operate entirely on renewable energy. It focuses on advancing technologies in artificial intelligence, robotics, biotechnology, and smart mobility. NEOM is a flagship project of the Kingdom’s Vision 2030 strategy and is backed by the Public Investment Fund of Saudi Arabia (PIF).

Xpence: Expanding fintech services and enhancing export potential

The delegation met with Zain Ansari, Commercial Director of Xpence, to discuss ongoing cooperation and future expansion in Uzbekistan. Xpence plans to open a local office, secure IT Park resident status, and access tax benefits and infrastructure support. 

The meeting outlined plans to establish an export-oriented model from Uzbekistan, build a local team to serve international clients, and position the country as a regional hub for fintech services. Joint initiatives under the Digital Uzbekistan programme were explored, with Xpence expressing readiness to support IT Park’s representation in Saudi Arabia.
Xpence is a digital business banking platform serving startups, SMEs, and freelancers in the MENA region. It operates in the UAE, Saudi Arabia, Bahrain, and Uzbekistan, offering expense management tools, corporate cards, and digital banking solutions.

Sadq Solutions: Legal tech expansion into Central Asia

Talks were held with Abdulla Allahuo, Co-Founder and CEO of Sadq Solutions, on the company’s entry into the Central Asian market and registration as an IT Park resident. IT Park proposed establishing a local office in Uzbekistan to benefit from tax incentives and build a team of developers and support specialists to deliver LegalTech services to global clients. This approach would reduce operating costs, attract qualified talent, and enable export of services.

Sadq Solutions, a Saudi Arabian company, develops intelligent solutions for the legal sector, merging legal expertise with technological innovation to provide digital tools for law firms, corporations, and individual users.

Rowad Business Holdings: Expanding into the uzbek market

A meeting was held with Dr. Sultan Al-Khureiji, Owner and CEO of Rowad Business Holdings, to discuss opening operations in Uzbekistan to provide services to the domestic market. Dr. Al-Khureiji expressed strong interest in business development in the country and readiness to launch activities in the near future.

Rowad Business Holdings is an investment company offering an integrated platform to promote a favourable business environment in Saudi Arabia. The firm emphasises innovation and long-term partnerships, leveraging extensive resources and professional networks to ensure client success.

Ejaro: Expanding opportunities in the car rental sector

A meeting was held with Muhammad H. Khashoggi, CEO of Ejaro, to explore the possibility of opening a branch in Uzbekistan, expanding the company’s presence in the regional market, and introducing new services. Mr. Khashoggi expressed interest in building partnerships with Uzbek companies.

Ejaro is the first licensed peer-to-peer car rental platform in Saudi Arabia and the GCC region, connecting vehicle owners with renters and turning underused cars into revenue sources. The platform ensures secure transactions and a seamless experience for users.

Oman Ministry of Transport, communications and ICT: Advancing digital cooperation

The IT Park Uzbekistan delegation met with the Oman Ministry of Transport, Communications and Information Technology to exchange information on ongoing projects and discuss prospects for collaboration in digital technologies and joint initiatives.

ansport infrastructure, logistics, telecommunications, and the digital economy. It oversees road, port, and airport modernisation, as well as the introduction of new technologies in communications and IT.

SME Authority: Supporting startups and entrepreneurship

Meetings were also held with the Omani SME Authority to discuss measures to support startups, state assistance for scaling operations, and incubation and acceleration programs. Omani officials confirmed their readiness to cooperate on initiatives to foster entrepreneurship and technology startups.

Established in 2020, the SME Authority develops small and medium-sized enterprises, crafts, and their economic contribution, while actively supporting the startup ecosystem through funding, training, mentoring, and access to government programs.
Oman Investment Bank: Technology sector investment prospects

A meeting with the Oman Investment Bank leadership focused on cooperation opportunities in investment, with particular emphasis on attracting funding for Uzbekistan’s technology sector.

Founded in 2024 and fully state-owned, Oman Investment Bank is the country’s first specialised investment institution. It finances strategic projects in technology and innovation, manages assets, and facilitates investment flows.

Oman Data Park: Data centres and cloud solutions

Talks were held with Oman Data Park on entering the Uzbek market and constructing data centres. The IT Park delegation toured the company’s existing facility to review its infrastructure and technical capabilities.

Established in 2011 as a joint venture between Oman Telecommunications (Omantel) and 4Trust LLC, Oman Data Park is a leading provider of cloud services, hosting, and data management solutions in Oman.
Agreements and strategic impact

The agreements reached will enable IT Park Uzbekistan residents to enter Gulf markets, scale their solutions, join international accelerator programs, and connect with strategic partners and investors. The planned opening of foreign companies’ representative offices in Uzbekistan will strengthen the country’s role as a regional digital hub, generate jobs, and attract technology-sector investment.

The Saudi Arabia visit marked a significant advance in international cooperation, while engagements in other regional countries are expected to yield further high-value agreements supporting Uzbekistan’s IT sector development.