Uzbekistan bets on IT exports 10 years after scrapping dual exchange rate
Uzbekistan has seen significant economic growth and foreign investment since liberalizing its currency exchange rate in 2017. The government is now pivoting toward IT exports as a strategic sector to overcome the challenges of being a doubly landlocked nation.
Why it matters
Uzbekistan's transition from a restrictive currency regime to a digital-export-focused economy serves as a case study for landlocked developing nations seeking global market integration.
Uzbekistan bets on IT exports 10 years after scrapping dual exchange rate | Aju Press
Uzbekistan bets on IT exports 10 years after scrapping dual exchange rate
Posted : September 13, 2026, 14:05 Updated : September 13, 2026, 14:05
The Independence Monument, topped by the mythical Humo bird from Uzbekistan's coat of arms, stands in New Uzbekistan Park in Tashkent. [Courtesy of the Embassy of Uzbekistan in South Korea]
Until September 2017, any company operating in Uzbekistan had to pick one of two exchange rates, and neither option was good. The government set the official rate at about 4,200 som to the dollar. On the street, a dollar fetched close to 8,000. Foreign firms either took the loss at the official counter or broke the law at the unofficial one.
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