UK to support development of IT sector in Uzbekistan 

Thus, during a meeting with the director of financial technology of the British Investment Association (BIA), Henry Bewley, and the head of the membership and development department, Gillian Paynter, issues of regular exchange of comprehensive information and statistics on investment management in the IT sector were discussed. An exchange of views took place on investing and promoting the investment environment of Uzbekistan in the British market.

The British Investment Association is the trade body for global investment firms in the United Kingdom. The Union and Trust Investment Fund and the Association of Fund Managers, created in 2002, formed the Investment Association in 2015 after merging with the Investment Department. It has 250 corporate members with a total capital of $7.7 trillion. The Association plays an important role in shaping industry standards and policies, working closely with the UK Government, regulators, the European Commission and other international organizations.

At a meeting between representatives of the Ministry of Digital Technologies of Uzbekistan and the British Investment Association, a memorandum of cooperation in investment management issues was signed.

During the meeting with representatives of the TransferWise company, issues of providing remote BPO (Business Process Outsourcing) services from Uzbekistan and investing in IT infrastructure were discussed.

At the meetings, information was presented on opportunities to enter the IT market of Uzbekistan, created conditions, changes in legislation, introduced opportunities for IT companies, human potential, demographic and geographical advantages, infrastructure, training processes and operating foreign companies.

TransferWise is one of the leading companies in the field of international currency transfers. This company will earn $900 million in net revenue in 2023 and has over 7.5 million users.

As a result of the meeting, an agreement was reached on organizing the participation of representatives of the TransferWise company in the ICTWeek-2024 week, which will be held in Uzbekistan on September 17-20 of this year.