American-Uzbekistan Chamber of Commerce
Week in Review:
July 11, 2014 - July 18, 2014
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2014 Opens a New Era for the Chamber

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.  While 2013 concluded our celebrations for the 20th anniversary it also opened a new era for the chamber and our members.


We are delighted that today AUCC continues to be 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.


We thank you all for your support and engagement and look forward to another year of progress and business successes.  


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


Our Members:
Indsur Stelcor, Inc.
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Rio Tinto
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White & Case
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In This Issue:
AUCC Member, Sustainment Solutions, Inc. (SSI) Receives HUBZone
ADB approves $300m loan to upgrade Uzbekistan thermal power plant
Uzbekistan's GDP increased by 8.1% in January-June 2014
World Bank Group Provided $11.9 Billion to Europe and Central Asia in Fiscal Year 2014

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.  


July 15, 2014


Today, Sustainment Solutions, Inc. (SSI) was awarded the coveted Historically Underutilized Business Zone (HUBZone) certification by the Small Business Administration (SBA). HUBZone is the rarest of the small business set-asides used by government agencies to select companies for federal contracts. From 2006 to the present year, the U.S. government has fallen short in meeting its goal of awarding HUBZone companies three percent of government contracts.

Sustainment Solutions, Inc. (SSI) is enthusiastic about receiving this HUBZone certification and adds it to their existing Certified Veteran-Owned Small Business (VOSB) certification. Regardless of these hard-earned certifications, SSI's first priority is to provide excellent service and results to all of their industry and governmental partners every day. The certifications are an excellent added bonus.

"I couldn't be more proud of our SSI team today. The men and women that make up our company strive daily to be the best because we know the better service we provide, the safer the lives are of those we protect," stated Scott Shinn, CEO of SSI. "Our tenacious spirit and excellent engineering skills in theatre are sound and trusted - and this unique HUBZone certification makes us an even more appealing partner to large prime contractors and federal agencies seeking to achieve their small business contracting targets."

Like USAF Veteran Mr. Shinn, SSI's field service team is largely comprised of Veterans with security clearances that are experienced with working in austere environments. SSI specializes in integrating, engineering, construction, security, equipment monitoring, sustainment and facility maintenance services worldwide. SSI has experienced tremendous growth since its incorporation in 2009. In 2014, SSI was recognized as a Top 100 Small Business by the U.S. Chamber of Commerce and Ernst & Young recognized Mr. Shinn as a finalist for Entrepreneur of the Year in the Southern Ohio & Kentucky region.

"TAG has thoroughly enjoyed working with the SSI team as their team members are extremely responsive, communicative, experienced and hold themselves to high standards.  TAG looks forward to continuing to strengthen our relationship and work with SSI on future projects," said JT Rose, Partner at Total Automation Group (TAG).

SSI is a qualified and highly motivated company with a proven track record of providing quality services to partner companies. Whether the project is on U.S. soil or in the most remote parts of the world, SSI is ready to provide quality solutions.  


July 16, 2014


The Asian Development Bank (ADB) has approved a $300m loan to upgrade Takhiatash thermal power plant in Uzbekistan.

The project includes construction of two new combined-cycle gas turbines of up to 280MW each.

As per the plans, three existing steam turbine units will be decommissioned, while two others will serve as backup.

ADB Central and West Asia department energy division director Rune Stroem said: "Karakalpakstan and Khorezm regions are expecting electricity demand to grow at double the rate of the forecasted national average.

"Reliable power supply is essential to meet the residential demand and for future industrial development and growth.

"This loan will help finance modern generating units to increase the reliability of power supply, save energy, and cut greenhouse gas emissions."

ADB said another component of the project will be staff training and other support for the state-owned power utility, Uzbekenergo.

The company, with earlier support from ADB, has made improvements in financial transparency and unveiled advanced electricity metering infrastructure.

Apart from ADB's assistance, the Uzbekistan Fund for Reconstruction and Development will provide a $270m loan, while Uzbekenergo and the Government of Uzbekistan are extending a combined $130m, for a total investment cost of $700m.

The project, which will run for six years, is expected to be completed by the end of October 2020.  


July 16, 2014


Uzbekistan's GDP increased by 8.1 percent in January - June 2014 compared with the same period in 2013, Uzbek Prime Minister Shaukat Mirziyoev said at government meeting which discussed the results of socio-economic development in the first half of the year.

Industrial production increased by 8.1 percent, agricultural production by 6.9 percent, construction 17.4 percent during the reported period.

The state budget was implemented with the surplus of 0.1 percent of GDP.

The inflation level has not exceeded the established predictive parameters.

Total volume of investments increased by 10.8 percent in January - June, the volume of direct foreign investment - by 28.8 per cent.

Sixty-four projects, costing $680 million, have been completed in the first half of the year. Some 1,650 new production facilities have been commissioned.

The volumes of production of consumer goods increased by 10.8 percent, retail trade by 13.7 percent, paid services by 9.7 percent during the reported period.

The share of services in the country`s GDP increased by 52.7 percent versus 52.4 percent for the same period in 2013.

Uzbekistan's GDP grew by 8 percent in 2013, production of industrial production by 8.8 percent, agriculture by 6.8 percent, construction by 16.6 percent, and retail turnover by 14.8 percent; the volume of capital investment from all funding sources was 11.3 percent compared to 2012, according to the State Statistical Committee. The state budget was executed with a surplus of 0.3 percent of GDP. The inflation level has not exceeded the forecasted parameters and amounted to 6.8 percent.

In 2014, the government plans to ensure the GDP growth by 8.1 percent, industrial production by 8.3 percent, agriculture 6 percent and to increase capital investment by 9.5 percent. The inflation is planned to be kept in 6 to7 percent.

The official exchange rate on July 16 is 2324.10 soum/$ 1.  


July 15, 2014


[Abstract.  Read full report here].


The World Bank Group provided $11.9 billion to Europe and Central Asia (ECA) during fiscal year 2014, aimed at reducing poverty and boosting shared prosperity in the region. Of this, IBRD/IDA provided $5.6 billion of support to the region, IFC delivered $4.7 billion in commitments, and MIGA provided $1.6 billion in political risk insurance and credit enhancement coverage.

Comprising 47 projects, the $5.6 billion of World Bank support to the region over the past fiscal year consists of $4.7 billion in commitments from the International Bank for Reconstruction and Development (IBRD) and $0.9 billion from the International Development Association (IDA).

In addition, the Bank's Europe and Central Asia region produced important research and analytical work about critical issues in the region this fiscal year. It also signed 33 Reimbursable Advisory Service agreements with 11 countries in the region for a total amount of $45 million. These agreements provide technical advice to pension and education systems reform, public sector governance and institutional capacity-building, planning and management of infrastructure investments, and other issues.

"Europe and Central Asia was the region hardest hit by the 2009 global economic crisis, and remains the slowest to recover. Although a modest rebound has occurred since 2010, GDP growth grew just 2.2 percent in 2013, and is expected to be only 1.7 percent in 2014," said Laura Tuck, World Bank Vice President for the Europe and Central Asia Region. "The World Bank supported clients' needs over the past fiscal year with innovative, demand-driven operations. We also acted quickly and effectively to respond to urgent situations, such as the crisis in Ukraine, and the catastrophic floods in Bosnia and Herzegovina and Serbia in May."

World Bank ECA Strategy

The ECA region's strategy focuses on two main pillars: 1) competitiveness and shared prosperity through jobs, and 2) environmental, social, and fiscal sustainability, including through climate action. Governance and gender continue to be thematic priorities within interventions of both pillars.  

International Finance Corporation (IFC)

The International Finance Corporation (IFC) this year supported private sector development in ECA with $4.7 billion in commitments in 117 projects, including $1.2 billion in funds mobilized from its partners. IFC also delivered a solid advisory program worth $40 million with a focus on projects in IDA countries, fragile and conflict affected countries, and climate change.

"IFC had another strong year in Europe and Central Asia as the weak economic performance in the Eurozone and political instability in parts of the region continued to affect many countries and businesses in the region," said Tomasz Telma, IFC Director for Europe and Central Asia. "IFC's efforts to support private sector development focused on helping small- and medium-enterprises, developing capital markets, tackling climate change, boosting food security by supporting agribusiness, and increasing private sector participation in infrastructure."

Multilateral Investment Guarantee Agency (MIGA)

During fiscal year 2014, the Multilateral Investment Guarantee Agency (MIGA) provided support for six projects with $1.6 billion in political risk insurance and credit enhancement coverage in Europe and Central Asia (ECA). Through these guarantees, the Agency continued to bolster the region's financial sector - a strong focus for MIGA in ECA. MIGA's landmark support to Hungary's Exim Bank this year represented the first use of the Agency's credit enhancement product for a bond issue. 

"Support to middle-income countries is an important pillar of MIGA's strategy," said Keiko Honda, MIGA's Executive Vice President and CEO. "Projects MIGA insures in the region increase banks' ability to lend, diversify the kinds of financial services available to people and businesses, and attract new capital sources to keep industry moving forward." 

[Abstract.  Read full report here].

The American-Uzbekistan
Chamber of Commerce
1300 I Street, N.W.,
Suite 720W
Washington, DC 20005
phone: 202.509.3744
[email protected]