On February 9, 2022, as part of the first Uzbek-Latvian business forum, held during the visit of a delegation of government and business circles of the Republic of Latvia to the Republic of Uzbekistan, a memorandum of mutual cooperation was signed between IT Park and the Latvian company “Shipleart” (AP Holding).
“AP Holding” – a holding company established in 2009 in Riga (Latvia), is working on the implementation and development of various business areas, including information technology and innovation in the vectors of the Eastern Partnership countries, the EU and the USA.
The signed memorandum will allow developing the export potential of IT Park residents in the markets of the European Union, receiving assistance in attracting EU funds, as well as venture financing for projects of IT Park Uzbekistan residents.
As part of the memorandum, the parties agreed to represent the interests of IT Park in the countries of the European Union through “Shippleart” (AP Holding) as the official representative of IT Park in the EU.
During the business forum, Alexander Petrov, Chairman of the Board of AP Holding, met with 15 IT Park resident companies, such as “BITWISE” LLC, “SMARTCHAIN” LLC, “NAPA AUTOMOTIVE” LLC, “United IT Company” LLC, “Online Service Group” LLC and others who are interested in entering the market of Latvia and Europe as a whole.
It should be noted that IT Park is actively working to increase the export of IT-services to foreign countries. For example, the volume of exports of IT-services and products in 2020 amounted to 16.3 million dollars, and by the end of 2021 – 40 million dollars. By the end of 2022, IT Park plans to bring the export volume to more than $100 million, and in 2025 – $500 million.
We are confident that the creation and strengthening of mutually beneficial cooperation between organizations of the two republics is a landmark event and a big step towards bringing Uzbekistan IT-companies to international markets.