Uzbekistan's digital transformation "unmatched", says VEON Group CEO as country marks 35 years of independence

Uzbekistan's progress over the past decade stands as an unmatched example of national transformation, driven by President Shavkat Mirziyoyev's 2030 vision of digitalisation, economic liberalisation and integration with global markets, according to Kaan Terzioglu, Group CEO of VEON.

The comments came in a video message released by the Ministry of Digital Technologies of the Republic of Uzbekistan, as the country marked the 35th anniversary of its independence.

"All success depends on two characteristics: vision and execution," said Terzioglu, whose Nasdaq listed group operates Beeline Uzbekistan, one of the leading digital operators. He credited the President's vision alongside the execution of the Ministry of Digital Technologies under Minister Sherzod Shermatov, adding: "Success is inevitable."

Terzioglu, who first visited Tashkent 25 years ago, said the scale of change was without parallel. "I literally cannot imagine the magnitude of transformation a country of this size can go through in such a short time. The economy is becoming liberalised, the global economy is getting integrated into the domestic economy, and entrepreneurship and startups are developing."

He cited Uzbekistan's recent recognition as a leading startup ecosystem, with activity growing more than threefold, as evidence of the right regulatory environment. Fast company registration, quick work permits, predictable taxation and fair treatment of investors were the factors international companies valued most, he said, adding that this predictability "gives us a lot of confidence" and makes the country an attraction point for entrepreneurs and investors.

The VEON chief also set out a distinctive framing of the country's economic future. "The way I define Uzbekistan is not an oil producing country but a data producing country," he said. “It is really important that data sovereignty is maintained that Uzbekistan's data stays in Uzbekistan in the right data centres, and that Uzbek engineers process that data to create authentic digital services and ultimately sovereign augmented intelligence capabilities.”

Terzioglu urged the country's youth to embrace AI, a term he prefers to read as augmented rather than artificial intelligence. "Learn not necessarily how to develop large language models, but how to use them. AI has the capacity to make a doctor a better doctor, a teacher a better teacher, a farmer more productive and a small business owner more profitable. It is not about AI replacing people. It is about people who use AI effectively winning over the ones who don't."

Comparing AI to the steam engine, electricity and the internet, he said a third of people would never understand such changes, a third would understand but fail to act, and a third would embrace them and succeed.

Looking ahead, Terzioglu said discipline, hard work and values would define the next decades. "Technology is fantastic, but technology can be used for good or bad. It is extremely important to stick to the ethics, integrity and values that have brought Uzbekistan here. In a country like  Uzbekistan, authentic and sovereign AI is going to define how we will be living our lives tomorrow."

VEON has been a long-term investor in Uzbekistan's digital economy since entering the market in 2006 and houses its international operations hub at IT Park Tashkent.