American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
  
Week in Review:
 
February 27, 2015 - March 6, 2015
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AUCC 20th logo

 

Dear AUCC Members and Friends:

 

Happy Holidays and best wishes for a prosperous New Year! 

 

We would like to express our gratitude to all AUCC members who, through all these years, have proven to be Uzbekistan's true allies and have been nothing but dedicated, reliable, honest and most conscientious business partners inspired to expand the bilateral relationship, business climate and promote development to enhance the lives of the people of Uzbekistan and the US.  

 

Our companies recognize that despite the global economic slowdown, Uzbekistan has managed to secure successfully greater macroeconomic stability and growth.  We applaud the Government of Uzbekistan for their continuous process to improve the operating business environment that US companies benefit from and fiscal discipline that has enhanced economic growth.  We greatly appreciate our own US Government for their continuous dialogue with their Uzbek counterparts on how to use trade and investment engagement as a pillar of the bilateral relations.

 

We stand ready to use our business acumen to facilitate the Uzbek and US Governments' efforts to attract more American companies and helping those who are already here generate even more success stories for the world to hear. We hope for the US and Uzbek Governments' support in helping us multiply our achievements and generate more projects and contracts that will make our nations achieve greater prosperity, stability and higher rates of development. 

 

Happy Holidays!  May 2015 bring greater prosperity to the American and Uzbek people. 

 

Sincerely, 

 

Carolyn Lamm, AUCC Chairperson

Timothy McGraw, AUCC President

 

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.   

 

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In This Issue:

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.

 

The U.S. Chamber of Commerce today announced Sustainment Solutions Inc. (SSI) of Lancaster, Kentucky, as a winner in its annual Blue Ribbon Small Business program. The Chamber recognizes companies for success, innovation, and for contributions to economic growth and free enterprise. SSI was selected from a record number of applicants from communities across the nation for demonstrating exceptional business practices in areas including strategic planning, employee development, community involvement, and customer service.

"While our economy still struggles to reach its full potential, small businesses like our Blue Ribbon Award winners have continued to act as examples of the resilience, ingenuity, and opportunity at work in the free enterprise system," U.S. Chamber President and CEO Thomas J. Donohue said. "Times can be tough, but these businesses have proven that they can be too. And by taking risks, watching out for their employees, and giving back to their communities, they've shown that success is achievable."

This is the second year in a row that SSI has been recognized as one of the "100 Top Small Businesses in the US." Founded in 2009, SSI continues to lead the perimeter security sector as the premier installation and maintenance provider of x-ray systems, vehicle barriers, access control, video analytics, and many other components that keep a facility secure. SSI is a global company with a strong track record in executing contracts in remote and demanding locations, such as the Middle East and the Horn of Africa.

"Amanda and I feel truly blessed that the SSI team has been recognized again this year, not as leader in our field, but as one the top 100 small businesses in the nation," said SSI President and CEO Scott Shinn. "Our cup definitely runs over! Thank you to the Department of Defense, State Department, NATO and all of our excellent teaming partners for trusting us to keep your perimeters secure."

SSI continues to pursue work at home and abroad with new ventures into the energy equipment market that include solar powered systems. SSI looks to support their local community of Garrard County, Kentucky, while at the same time maintaining its role as a key integrator in the global market.

 

Azernews

March 3, 2015 

 

Uzbekistan has inked a package worth $2.8 billion in investment and loan agreements, and trade contracts with Germany, which is considered as Tashkent's most important partner in the European Union.

The agreements and contracts have been concluded during a visit of the Uzbek delegation to Germany, according to a message from Uzbekistan's Foreign Economic Relations, Investments and Trade Ministry.

The package of agreements and contracts covers the chemical, machine building, electro-technical, textile and food industries, as well as the production of construction materials.

The ministry said Uzbekistan's delegation, led by Rustam Azimov, the first deputy prime minister and finance minister took part in the first meeting of the Germany-Uzbekistan business council, held in Berlin on February 25.

The German-Uzbek Business Council founded by over 50 leading companies and banks of Germany, including MAN, Airbus, Claas, Knauf, Lemken, ThyssenKrupp, Commerzbank, Deutsche Kabel and others. Over 250 representatives of leading German industrial companies and banks attended the first session of the Council.

Uzbekistan's program for structural reforms, modernization and diversification of industry in the country in the coming years, and the infrastructure development program presented at the meeting caused great interest among German companies.

The representatives of the German government and business circles highlighted the dynamic developments in Uzbekistan's economy, the deep structural reforms, the creation of new high-tech industry sectors, and setting a favorable investment climate and opportunities for successful investment activity.

"The government and leading companies of Germany are going to actively support the work of the German-Uzbek Business Council and expand their own participation in Uzbekistan," the Uzbek ministry of foreign economic relations, investments and trade said.

The Uzbek delegation also studied the experience of the largest concerns and companies of Germany in the corporate management sphere.

The government and leading companies from Germany are going to actively support the work of the German-Uzbek business Council and to expand its presence in Uzbekistan. Representatives of major corporations and companies of Germany emphasized the enormous potential for the expansion of investment, trade and financial ties between Uzbekistan and Germany.

Moreover, a cooperation agreement was signed with the European Institute of Management and Technology during the Uzbek delegation's visit. This agreement envisages the organization of short-term courses in Tashkent in the sphere of corporate management for the heads and specialists of the country's enterprises, as well as their subsequent training in Germany's largest joint-stock companies.

Germany and Uzbekistan have maintained close and trustful relations for more than twenty years. Uzbekistan looks on Germany as its most important partner in the European Union. It is among the top the three trade partners of the country in Europe. Cooperation encompasses a whole range of areas within society.

Investment projects totaling over 1 billion euro have been implemented in Uzbekistan jointly with the leading German companies.

German companies' interest in Uzbekistan focuses mainly on trade and less on investment. The Uzbek government is seeking to improve the investment climate. Major investors include MAN, Knauf and Claas. Some 70 German companies operate in Uzbekistan, according to Federal Foreign Office.

The trade turnover between Uzbekistan and Germany increased by 10 percent in 2014, compared to 2013 and stood at 461.2 million euros, according to German embassy.

Around 123 enterprises, created with the participation of leading companies, capital and advanced technologies from Germany, operate in Uzbekistan.

 

The Jakarta Post

March 3, 2015 

 

The Uzbekistan government has said it aims to strengthen tourism cooperation between Tashkent and Jakarta by increasing the number of travelers from Indonesia.

Uzbekistani Ambassador to Indonesia Shavkat Jamolov said that Indonesia was a huge potential market for tourism in the Southeast Asia region given its large population and healthy economic growth.

"We believe that Indonesia and Uzbekistan will continue the strong relationship that has been going on for years. We want more Indonesians to visit our country in the future because we offer unique destinations for the local market here," Jamolov told The Jakarta Post in Jakarta on Wednesday on the sidelines of the Heart of the Silk Road networking event.

Jamolov revealed that he had invited16 travel agencies from his country such as Miramax Travel Management, Elite Tours and Asia Tour, all members of Uzbekistan's Association of Private Tourism Agencies (APTA).

Miramax has already set up a representative office in Jakarta to better penetrate the Indonesian market.

"We've invited a lot of players from Indonesia today to meet our travel agencies so that between them the two parties can create more packages to bring tourists to Uzbekistan," he continued.

He added that demographic similarities between the two countries - both are majority Muslim -- had strengthened Uzbekistan's position in the domestic travel market.

In addition, Uzbekistan Airways' connections to Tashkent via Singapore and Kuala Lumpur are expected to increase the number of visitors from Indonesia, given that many airlines link the country's main gateway Soekarno-Hatta International Airport to both Changi International Airport and Kuala Lumpur International Airport.

Uzbekistan Airways general manager Zaripov Negmatillo said that the carrier was currently negotiating with Garuda Indonesia to create a code-share agreement and priority programs between Jakarta and Singapore and Kuala Lumpur to attract more passengers from the archipelago.

The agreement is expected to be made this year.

 

Azernews

March 3, 2015 

 

The United Nations has praised Uzbekistan for developing its country's economy.

"Uzbekistan in 2014 reached a stable, high pace development of its economy and leading sectors," according to UN bulletin statement published on March 2.

The bulletin, on results of socio-economic development of Uzbekistan in 2014 and key priorities in its economic program for 2015, was issued as an official document of the 69th Session of the UN General Assembly.

The document said the country's GDP in 2014 grew by 8.1 percent, the industrial production volumes rose by 8.3 percent, agricultural production by 6.9 percent, capital construction by 10.9 percent, and retail trade turnover by 14.3 percent.

The Uzbek government's sources also showed an 8.1 percent increase in GDP in the first half of 2014, up slightly from 8.0 percent in the same period in 2013.

Around 70 percent of products accounted for are finished products with high added value.

The UN document showed that inflation in Kazakhstan stood at 6.1 percent, which is lower than the forecasted level, while the state budget was executed with a surplus of 0.2 percent of GDP.

"The reformation and strengthening of the banking system have created the prerequisites for reducing the refinancing rate of the Central Bank from 12 percent to 10 percent and a corresponding reduction of the interest rate on loans of commercial banks," read the bulletin.

Moreover, the document said the volume of investments in economy increased by 10.9 percent and amounted to the equivalent of $14.6 billion.

It added that over 21.2 percent of the total volume of capital investments accounted for is foreign investments and loans with 75 percent of them being direct foreign investments. Over 73 percent of the total volume of investments was directed towards industrial construction.

Some 154 large facilities with modern high-tech equipment were commissioned in the leading sectors of the economy.

"The country continued to implement measures to support and stimulate domestic producers-exporters, increase the competitiveness of their products and develop new markets," according to the bulletin.

The document further said systematic measures to improve the business environment and create favorable conditions for the development of small businesses and private entrepreneurship, including the implementation of the principle of "single window" when creating business, simplification of the mechanism of statistical and tax reporting by small businesses, the expansion of access to raw materials for private entrepreneurs had been implemented.

The tasks for preserving the high rates of economic growth, the expanding of the structural changes in the economy, the modernizing and diversifying of the leading areas of the industry are among the most important priorities and directions of the socio-economic development of the country for 2015, said the document.

It added that efforts toward an increase of the production localization and developing of road transport and engineering-communication infrastructure are also among these tasks.

"The measures were determined to reduce the state share in the economy up to strategically and economically reasonable amount, to radically change the principles and approaches in the corporate governance system and to provide with full freedom in the development of private property and private entrepreneurship," according to bulletin.

The document also added that the measures were also determined to create favorable conditions toward employment opportunities, growth and an increase on the quality of life.

 


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

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