American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
  
Week in Review:
 
December 6, 2013 - December 13, 2013
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2013 Marks AUCC 20th Anniversary

Since 1993 the American-Uzbekistan Chamber of Commerce has been at the forefront of advancing trade and business relations between the US and the Republic of Uzbekistan. AUCC prides itself in catering to the needs of our members, providing them with a platform to interact with policy makers in the US and the Republic of Uzbekistan and ensuring that bilateral commercial relations continue to be on the governments' top agenda.   

 

For the last twenty years AUCC has been a vigorous advocate of the views of the business community to ensure that private sector positions are considered during the development of policies that impact American businesses and the future of U.S.-Uzbekistan relations.    

 

We are delighted that today AUCC is a well-known organization that is recognized for its strength and ability to work closely with a great number of partner organizations. AUCC enjoys excellent working relations with the Embassy of the Republic of Uzbekistan in Washington, D.C., the Government of the Republic of Uzbekistan, Uzbek ministries, associations and organizations as well as the executive and legislative branches of the U.S. AUCC also coordinates its efforts with a great number of international financial institutions, business councils and other professional organizations.

If your company is interested in joining AUCC, please contact our office at 202-509-3744 or info@aucconline.com.  We invite you to be part of our organization and participate in our activities and events.   

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In This Issue:
AUCC IN BRIEF
Uzbekistan ratifies strategic partnership agreement with Kazakhstan
Uzbekistan Temir Yollari to use investments for US$586.6m in 2014
Uzbekistan to direct $4 bln for investment projects' implementation
New solutions to energy challenges in Eastern Europe and Central Asia, says UNDP report

Established in 1993, the American-Uzbekistan Chamber of Commerce (AUCC) is a private, non-profit trade association representing interests of U.S. businesses ranging in size from small private enterprises to large, multinational corporations conducting business in Uzbekistan.

Our Mission: To advocate the views of the business community to ensure that private sector positions are considered during the development of key policies that impact American businesses and the future of U.S.-Uzbekistan relations.

Our Objective: To serve the needs of its members by strengthening commercial relations between the United States and Uzbekistan.

trend.az  

 

December 13, 2013

 

The Uzbek Senate (upper house of parliament) ratified the strategic partnership agreement between Uzbekistan and Kazakhstan at its meeting on Dec.13.

The agreement was signed on June 14, 2013 by the Uzbek President Islam Karimov and Kazakh President Nursultan Nazarbayev during the official visit of Kazakh president to Uzbekistan.

The document sets out the basic principles and priorities of bilateral cooperation in political, economic, trade, economic, transport and communication, cultural, humanitarian, military, technical and other spheres.

The agreement also confirms the single agreed position regarding the development of an equitable water use system in Central Asia.

The document will come into force once it is signed by the president of Uzbekistan.

hispanicbusiness.com  

 

December 11, 2013

 

State joint stock railway company Uzbekistan Temir Yollari is planning to use investments for US$568.6 million in 2014. The resources will be directed to modernization and development of the industry. The volume of investments will grow 1.7 times compared to 2013. Uzbekistan Temir Yollari is planning to invest US$319.5 million of own resources to development of the industry. The company will also attract loan of the Fund for Reconstruction and Development of Uzbekistan (FRDU) at the size of US$173.7 million and foreign loans for US$75.4 million. Next year, the company will continue its work of construction of new electrified railroad Angren-Pap with the length of 122.7 km. Within the project with the cost of US$1.7 billion, it is planned to utilize US$120 million in 2014. The project will help to link eastern part of Uzbekistan with other regions of the country with the railway communication. Uzbekistan Temir Yollari will also continue to realize the project on electrification of railroads Maraqand-Qarshi and Qarshi-Termez with total length of 465 km. The company will also continue its work on rehabilitation of railways and cargo cars, production of new passenger and cargo cars in 2014. 

azernews.az  

 

December 10, 2013

 

Uzbekistan plans to spend foreign investments worth $3.883 billion for implementation of 166 investment projects in 2014, the 2014investment program approved by President Islam Karimov reads.

It is planned to direct $1.214 billion for 74 projects through foreign loans guaranteed by the government and $2.67 billion for 92 projects through foreign direct investments.

The largest amount of foreign investments - $2.604 billion will be spent on implementation of 35 projects in the fuel and energy sector, $2.228 billion of which will fall to foreign companies' direct investments for 16 projects.

In particular, Russia's Lukoil will invest $1.05 billion in the implementation of two production sharing agreements (PSA) worth more than $8 billion.

Lukoil implements three projects in Uzbekistan under the PSA on Kandym-Khauzak-Shady-Kungrad, involved in the development of deposits of South-West Gissar as well as explores the Uzbek part of the Aral Sea within an international consortium.

Lukoil plans to produce at least 18 billion cubic meters of gas in Uzbekistan by 2016 and to increase the volume of investment up to $5 billion by 2017 within the first two projects under the PSA terms.

The consortium of Korean companies led by Kogas will continue building the Ustyurt gas-chemical complex in the north- west of the country at a total cost of $ 4.1 billion with a planned investment volume of $711.2 million.

The capacity of the gas-chemical complex will allow processing 4 billion cubic meters of natural gas per year and produce 400,000 tons of polyethylene and 100,000 tons of polypropylene.

Energy giant China National Petroleum Corporation (CNPC) will invest $316.2 million in the construction of the third line of the Uzbek section of the Central Asia-China gas pipeline which is valued at $2.1 billion.

The construction of a Central Asia - China gas pipeline began in 2008. The pipeline is designed to export natural gas from Turkmenistan, Kazakhstan and Uzbekistan to China. The total length of the gas pipeline is about 7,000 km.

In 2013 Uzbekistan planned to use foreign investments worth $3.017 billion. According to the official statistics, the amount of foreign investments increased by 12.4 percent up to $1.812 billion in January- September 2013 compared to the same period of 2012.

undp.org  

 

December 10, 2013

 

[Extract.  read full report here]
 
The United Nations Development Programme (UNDP) launches the third volume of Empowering Lives, Building Resilience, a report compiling sustainable energy success stories from UNDP's work in Europe and the Commonwealth of Independent States. These stories demonstrate how sound policies, capacities and financing lead to lasting change.
"For countries in Eastern Europe and Central Asia, energy challenges often include the inefficient use of energy, frequent power cuts, high energy costs, lack of reliable and affordable heating in winter, and the slow uptake of renewable energy," said UNDP Administrator Helen Clark.
The report explains how UNDP uses grants for public and private financing, while scaling up investment in energy efficiency and renewable energy. UNDP is supporting countries to promote energy access, expand renewable energy use and improve energy efficiency.
"UNDP's work results in significant improvements in the lives of people and societies with far-reaching impacts on economic development, poverty reduction, health, education and the environment," said the Director of UNDP's Regional Bureau for Europe and the Commonwealth of Independent States Cihan Sultanoglu.
Whether just one school, one village or one country, each story in this report shows how specific energy-related development challenges can be overcome, and solutions replicated and scaled up. Two decades of transition have produced many changes in how the countries of this region use energy. Some countries export large quantities of fossil fuels and boost some of the world's highest rates of energy intensity, while others struggle to provide reliable and affordable energy to their own citizens.

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