Pakistani Company Mateen Group Considers Entering the Uzbek Market

The Belarusian IT company ISsoft Solutions is studying the possibility of expanding its international activities into Uzbekistan. The company plans a phased entry into the Uzbek market, which will begin with registering a local legal entity, although employees will not be transferred initially.

Discussions on this issue took place on October 26 during a meeting held by the IT Park Uzbekistan delegation. The meeting was held between representatives of IT Park Uzbekistan, headed by Export Development Director Zhakhongir Kagirov, and Alexander Drobyshevsky, Deputy CEO for Innovation at ISsoft Solutions.

Participants reviewed the company's prospects in Uzbekistan, various options for establishing a legal presence, and the most suitable model for cross-border operations. Topics discussed included maintaining a remote work format and potential business expansion at later stages.

Representatives of IT Park outlined the conditions for obtaining resident status, tax incentives, and the specifics of conducting commercial activities in Uzbekistan. As part of efforts to diversify international operations, ISsoft Solutions is exploring new markets, including Asia and Latin America.

According to IT Park data, Uzbekistan is being considered due to accessible incentives for IT companies and opportunities for integration into global technology service supply chains. The company intends to complete a comparative assessment of potential jurisdictions by the end of 2026 to determine its international expansion model; the conditions in Uzbekistan will be compared with offers from other markets under consideration.

Following the meeting, the parties agreed to continue discussions on the organizational and legal aspects of a possible entry into the Uzbek market. ISsoft Solutions is one of the largest IT companies in Belarus, founded in 2004, and is part of the international group Coherent Solutions, which operates in North America, Europe, and other regions. The company specializes in custom software development, digital design, cloud solutions, and enterprise information systems. Its development centers in Belarus employ over 1700 specialists, and it also operates four research laboratories, a corporate training center, and an internal startup incubator program.

The Association of Consulting Companies under the Chamber of Commerce and Industry of Uzbekistan has been established in Uzbekistan. The goal of its creation is to support the development of the consulting sector, improve the quality of consulting services, and strengthen the positions of local firms in global markets.

A meeting of representatives from the consulting business took place on October 22. Attendees included Bakhr Mahmatrayev, Deputy Chairman of the Chamber of Commerce and Industry, and Umidbek Safarov, Chairman of the association.

Representatives from international auditing and consulting firms, including Deloitte & Touche, PricewaterhouseCoopers, Ernst & Young, KPMG, and Utax, participated in the meeting. Organizations specializing in auditing, tax consulting, outsourced accounting services, and other areas were also present.

Participants were provided with information about the goals of the new association, its main areas of activity, and plans for developing the consulting market in Uzbekistan. One of the association's priorities is to unite companies on a single professional platform, stimulate experience exchange, and strengthen cooperation in the sector.

The association also plans to contribute to the development of standards so that local consulting services meet international requirements. Another area of focus will be identifying systemic problems faced by consulting firms and enterprises, as well as preparing practical proposals for their resolution.

To expand international cooperation, the association intends to establish partnerships with the European Bank for Reconstruction and Development, as well as with leading European and international organizations operating in the fields of consulting and tax consulting.

At the end of the meeting, industry figures exchanged views on improving service quality to meet international standards, strengthening ties between companies, and further promoting the domestic consulting market of Uzbekistan.