Innotech Group and Octo signed a strategic partnership agreement

Innotech Group, a high-tech fast-growing IT company, and OCTO payment service, as part of the ICTWEEK Uzbekistan 2022 information and communication technology week, signed a strategic partnership agreement to implement projects for digitalisation and automation of business processes.

Innotech and OCTO will implement joint projects in the field of technology, innovation, commercial and educational activities.

The economy of Uzbekistan is now at the stage of active development: GDP growth exceeded 7% in 2021. Against this background, the IT sector is actively developing: investments in fixed assets there increased 4 times over 4 years, according to the Centre for Economic Research and Reforms. The IT area is one of economy drivers in the region, and has recently become a centre for attracting additional investments. The attractiveness of the local market is growing, including for international IT players focused on export opportunities. According to experts , 22 million people use remote payment services in Uzbekistan. Thus, fintech and related sectors are one of the most promising areas in the region.

“Innotech is actively developing partnerships in Uzbekistan and seeks to expand its cooperation with companies and the public sector in the region. Uzbekistan is a strategically important market for us: there are all opportunities for launching large-scale projects in the IT and high-tech field that will meet the needs of various stakeholders: the government, business, and end consumers," says Dmitry Kharitonov, General Director at Innotech. “Today projects that contribute to the development of innovations in the country are coming to the fore in the region, and we hope that together with our colleagues from Octo we will take a big step towards the technological development of the local market.”

One of OCTO’s priorities remains establishing international partnerships aimed to integrate IT solutions in business and government organizations as well as for end users. “We are driven by the goal to improve the lives of millions of people in Uzbekistan and abroad and provide access to modern technologies. Innotech partnership is strategically important for OCTO. I am confident our joint projects will contribute to innovations on Uzbekistan’s IT market”, - says Aleksey Maksimov, General Director at OCTO.