There are 2 Companies in Uzbekistan
that provide Due Diligence Services!

Uzbekistan's high economic growth has been attributable to large and growing oil and gas exports, but some non-export sectors also featured double-digit growth, including construction, banking, and real estate. The IT sector was never a priority for the government-supported economy fields, and thus web industry developed by itself, with small steps, and exclusively based on market requirements. 

According to paylab the salary in the IT sector in Uzbekistan varies from $154/mo - $665/mo. The average hourly rate, as expected, varies between $6 up to $14 for web developers, which means that a local agency may charge per hour slightly more than the official numbers. 

Why Working with Uzbek Web Agencies?

Even though there are no visible changes and state-supported policies that would develop the branch, Uzbekistani web agencies still exist, and provide the same range of services as western European ones, but for a considerably lower price.

What to be aware of when working with Uzbek web agencies

However, you may want to give a second thought of whether the price range is your main reason, and also explore other options in the region. Even though web services are cheap in Uzbekistan, you may find difficulties in communication, project management, software piracy, and also project delivery terms. 

Are Uzbek Agencies reliable? 

It depends from case to case on how reliable web development and design agencies from Uzbekistan really are. Tech Behemoths don’t interfere in the selection process, but you may consider having a call with all agencies from the country and also try to avoid agencies based in small cities. 

How Uzbekistan relates to its neighboring countries in terms of IT?

On the background of a well-developed IT sector in Kazakhstan, and a slightly lower IT development sector in Turkmenistan, Uzbekistan faces challenges of exiting the global market and promoting its services and web products. Also, web companies lack substantial state support and government policies that will encourage the development of this branch. On the other hand, the lack of strong competition in the IT sector in this country makes it a good target for IT startups.

All in all, Uzbekistan has a still undiscovered IT potential and hopefully will develop this field in the next years. Until then, few web agencies struggle to acquire new products and use the latest technologies and lower prices to get a relatively strong presence on the local market.

How ICT Will Change Uzbekistan in 2022

ICT is one of the fastest-growing sectors of Uzbekistan, and since 2019 when the IT Park In Tashkent was launched, the number of IT companies and also services has been growing constantly. Even though there are a lot of things to work at in Uzbekistan, the future looks brighter than several years back. According to Euronews, Uzbekistan has all chances to become a tech leader in the region starting with 2022 as a result of key-reforms implemented by the government in the last 3 years

Due diligence services are like thorough investigations that help businesses make informed decisions. They assess risks and opportunities when entering into partnerships, acquisitions, or other critical business transactions.

Many IT companies offer due diligence services, specializing in analyzing technology, data security, and compliance aspects of potential business ventures. Notable IT companies providing due diligence services include Deloitte, KPMG, and Ernst & Young (EY).

Due diligence service providers use a combination of tools and technologies to assess various aspects of a business. These may include data analytics platforms, cybersecurity tools, compliance management software, and financial modeling software. They also leverage document management systems and communication tools for efficient collaboration during due diligence processes.

Due diligence and audit services share similarities in their examination of the financial and operational aspects of a business. However, they differ in scope and purpose. Due diligence is typically conducted before entering into a business transaction to evaluate the potential risks and rewards. In contrast, audit services are often part of ongoing financial reporting and compliance requirements within a business.

Due diligence services are closely related to other advisory and consulting services, including:

• Financial Advisory: Providing financial insights and recommendations.

• Cybersecurity Assessment: Evaluating a company's cybersecurity posture.

• Mergers and Acquisitions (M&A) Consulting: Assisting in the strategic aspects of M&A transactions.

• Compliance Consulting: Ensuring adherence to industry regulations and standards.

Selecting the best IT company for due diligence services requires evaluating their expertise, industry knowledge, track record, and the comprehensiveness of their due diligence process. Seek providers who can tailor their services to your specific industry and transaction type.

Due diligence service providers are essential for various projects, including:

• Mergers and Acquisitions: Evaluating the financial health and potential risks of target companies.

• Investment Assessments: Analyzing potential investments in startups or new ventures.

• Partnership Agreements: Assessing the suitability and risks of partnering with another organization.

• Regulatory Compliance: Ensuring adherence to data protection and industry-specific regulations.

Conducting due diligence is essential for businesses of all sizes and industries. Some examples include private equity firms, which need to assess potential investments and portfolio companies; startups, which must evaluate the feasibility and risks of new business ventures; large corporations, which conduct due diligence on acquisitions and strategic partnerships; and financial institutions, who ensure compliance and risk management in lending and investments.

The cost of due diligence services can vary significantly based on the scope and complexity of the project. Factors such as the size of the target company, industry regulations, and the depth of analysis required influence the price. In the US, costs can range from a few thousand dollars to millions for complex M&A transactions. UK and Australian costs can be similar but may also vary depending on regional factors and the specific nature of the project. It's advisable to obtain quotes and assess the value provided by service providers before proceeding with due diligence.