At the Shared Services and Offshore Outsourcing Conference held in Tashkent, Uzbekistan, on September 17, GEMx Technologies’ CEO, Mr. Asmadi Ahmad, was among the speakers in a panel discussion that highlighted the company’s strategic move to establish a subsidiary in Uzbekistan. During the panel discussion, he shared that the decision to establish a subsidiary in Uzbekistan aligns with G-EMx’s global growth ambitions and the reasons behind choosing this emerging Central Asian hub for outsourcing. The event provided a significant platform for G-EMx to highlight the company’s vision and the opportunities Uzbekistan offers for businesses in the IT sector.
Strategic Decision to Expand into Uzbekistan
During the panel discussion moderated by Ahmed Aboulezz, Adviser to the CEO of IT Park Uzbekistan, Mr. Asmadi Ahmad outlined the key reasons behind GEMx Technologies’ decision to expand into Uzbekistan, marking the company’s first major step into Central Asia. After visiting the country in May 2023, he realized Uzbekistan’s immense potential as a strategic base for IT development and outsourcing services. He also noted that one of the primary attractions was the country’s favorable tax regime, particularly its zero corporate tax for IT firms and reduced employee income tax, making it a cost-effective location for expansion. These incentives, he noted, positioned Uzbekistan as an ideal hub for outsourcing, offering a competitive advantage over other regions, including Southeast Asia.
Uzbekistan’s government has been working diligently to attract foreign investment in the IT sector, and GEMx Technologies benefited significantly from this proactive approach. The company received strong support from IT Park Uzbekistan’s One Stop Shop program, which provided personalized assistance throughout the setup process. Mr.Asmadi praised the seamless facilitation of legal, banking, and administrative procedures, which allowed the company to establish operations with minimal delays. This level of support, he highlighted, was more comprehensive than what G-EMx had encountered in other markets.
Uzbekistan’s Talented Workforce: A Key Competitive Advantage
A central factor in GEMx Technologies’ decision to choose Uzbekistan is the country’s highly skilled workforce. Mr.Asmadi spoke about Uzbekistan’s young professionals, emphasising their strong technical skills and proficiency in English. The absence of language barriers simplifies collaboration with G-EMx’s global teams, enhancing operational efficiency. This factor, combined with the cost-effectiveness of hiring local talent, makes Uzbekistan a highly attractive outsourcing destination compared to traditional hubs in Southeast Asia.
Mr. Asmadi emphasized that G-EMx is actively in the hiring phase, with plans for substantial workforce expansion in the coming months. Mr.Asmadi expressed optimism about the company’s rapid growth trajectory in Uzbekistan, where it aims to become one of the leading tech firms. He also highlighted Uzbekistan’s strategic location, which bridges Europe and Asia, allowing G-EMx to serve clients across both continents better. In particular, G-EMx’s expansion will not only serve local clients but also contribute to the export of technology services globally, making Uzbekistan a central pillar of the company’s global outsourcing strategy.
Future Plans and Long-Term Vision
Looking ahead, GEMx Technologies is focused on building a strong and capable local team in Uzbekistan. The company aims to double its workforce as it continues to tap into the country’s talent pool. Beyond workforce growth, G-EMx plans to use Uzbekistan as a launchpad for broader global expansion. Its geographic advantage positions Tashkent as a strategic base from which the company can serve clients across Europe, Asia, and beyond.
In addition to its internal growth, G-EMx is committed to fostering innovation through collaboration with local partners, such as IT Park Uzbekistan. By contributing to Uzbekistan’s ongoing digital transformation, G-EMx aims to play a crucial role in elevating the country’s status as a global outsourcing destination. The company’s long-term strategy involves not only expanding its own operations but also supporting the growth of the wider IT ecosystem in Uzbekistan.
ICT WEEK UZBEKISTAN 2024
ICT WEEK UZBEKISTAN 2024, which began on 17th September 2024, provided the perfect platform for GEMx Technologies to showcase its expansion plans. Held at the Central Asian Expo (CAEx) in Tashkent, the event attracted over 200 companies from across the globe, including international IT leaders, startups, and government officials.
In his opening remarks, Sherzod Shermatov, Uzbekistan’s Minister of Digital Technologies, laid out the government’s vision for the country as a global hub for outsourcing and digital transformation. The week’s events underscored Uzbekistan’s commitment to creating a business-friendly environment and fostering foreign investment—factors that aligned perfectly with GEMx Technologies’ goals for long-term growth in the region.
