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  • 2023-11-23
Insight: The role of E-commerce in exporting Uzbek products

23.11.2023. Uzbekistan has been actively advancing its digital economy and e-commerce sectors, aiming to enhance its global market presence. The "Digital Uzbekistan 2030" strategy underscores the nation's commitment to digital transformation, focusing on infrastructure development, e-government, and IT education. This comprehensive approach seeks to integrate digital technologies across various sectors, fostering economic growth and improving public services. The e-commerce landscape in Uzbekistan has experienced significant growth. In 2022, the market reached a valuation of $311 million, reflecting a nearly fivefold increase over five years. Projections indicate that by 2027, the market could expand to approximately $2.2 billion, with e-commerce penetration rising from the current 2.2% to an estimated 9-11%. This rapid development is attributed to consistent government support, increased internet accessibility, and the emergence of local platforms like Uzum Market, which offers integrated fintech solutions and robust logistics infrastructure. To further bolster the digital economy, the government has implemented favorable policies, including tax incentives for online businesses and substantial investments in telecommunications infrastructure. These measures aim to improve internet accessibility nationwide, facilitating broader participation in e-commerce and digital services. Additionally, the establishment of the "Open Digital Ecosystem" provides a comprehensive platform for e-commerce activities, offering services such as escrow accounts to ensure contractual obligations are met. E-commerce operators integrated into this ecosystem benefit from reduced income tax rates, incentivizing digital trade participation and fostering a conducive environment for business growth. These concerted efforts reflect Uzbekistan's dedication to leveraging technology and e-commerce as catalysts for export growth, positioning the country as a dynamic player in the global digital economy.