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 info@aucconline.com. We invite you to be part of our organization and participate in our activities and events. |
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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.
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Uzbekistan's electro-technical joint stock company Uzeltechsanoat will start production of electrical home appliances of Japan's Shivaki and China's Midea brands at the Motor Plant in Tashkent, Novosti Uzbekistana (http://nuz.uz) reported.
The investment projects worth a total of $13.7 million have been included in Uzbekistan's state program of production modernization and diversification for the period between 2015 and 2019.
The projects are expected to launch in 2016 the production of up to 300 thousand refrigerators and up to 250 thousand gas and gas-electric stoves per year.
This year the Motor Plant also plans to organize a logistics center of electro-technical products with a handling capacity of 200 thousand tons a year.
According to Uzeltechsanoat, Uzbekistan's producers currently meet only 7 percent of the domestic need for home appliances. The government has tasked the domestic electro-technical industry to increase the figure up to 50-60 percent in five years.
In April 2014 the president of Uzbekistan approved the program to develop the electro-technical industry in 2014-2018, which will implement 24 projects to build new and modernize existing productions of home appliances. As part of the program, during the next five years Uzbekistan will increase the production of TV sets 4.6-fold (up to 635 thousand), mobile phones 3.9-fold (up to a million), and refrigerators 2.5-fold (up to 600 thousand).
In general, Uzbekistan's electro-technical industry will spend more than $153 million for building new productions of home appliances by 2019.
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Today the World Bank and the Government of Uzbekistan signed Loan Agreement for a US$150 million loan provided by the IBRD to finance the Horticulture Development Project.
The Project has been designed in support of the government's five-year Industrial Modernization and Infrastructure Development Program (2011-15) cross-cutting development priorities as enhancing the competitiveness of industries, such as agro-processing and diversifying the economy and thereby reducing its reliance on a few commodity exports.
TheProject will contribute to the World Bank twin goals to end extreme poverty and boost shared prosperity. The project will contribute to poverty reduction in the country by assisting horticulture farmers, many of whom are small and comprise the poorest, to increase their farm productivity and incomes, and fostering greater and better rural jobs through: (i) improving access to technologies, knowledge and markets; (ii) strengthening technical and managerial capacity in the farming and agri-business sectors; and (iii) introducing new financial products in the financial sector. These will bring sustained benefits to the project beneficiaries over the long-term. At the same time, the project will promote shared prosperity by supporting the growth and development of small and medium enterprises in the rural areas, creating more and better paying jobs in the agro-processing, trading and export sectors, and increasing the value added of the agricultural sector.
"Having more jobs and better paying jobs is critically important for the well-being of people living in the rural areas of Uzbekistan," said Junghun Cho, World Bank Country Manager for Uzbekistan. "The new Horticulture Development Project will help create much-needed jobs by improving access to technologies, knowledge and markets, strengthening technical and managerial capacity in the farming and agri-business sectors, and introducing new financial products in the financial sector."
The project has three components: (i) Agricultural Support Services, (ii) Access to Credit, and (iii) Project Management, and will be implemented in eight regions of Uzbekistan, namely Andijon, Jizzak, Ferghana, Kashkadarya, Karakalpakstan, Namangan, Samarkand, and Tashkent.
This is the first project in the World Bank Group portfolio in Uzbekistan where the World Bank and the International Finance Corporation (IFC) will join efforts in implementing the project. IFC will support local food producers and processors in implementing internationally recognized food safety solutions; help companies along the agribusiness value chain to improve their competitiveness and long-term value chain sustainability; and improve capacity building of commercial banks' staff by promoting of all types of agricultural lending. It ensures access to markets for farmers-producers of supply chains.
Project will bring benefits to farmers, farmer groups, private enterprises, agro-firms, and agro-processing enterprises, involved in the country's horticultural sub-sector. Participating financial institutions (PFIs) will also benefit through improved skills and acquisition of a more diverse menu of suitably adapted financial products; and the national network of private growers through training and technical assistance. The Project will also provide support in institutional strengthening of the State Research Institutes and the plant protection services.
Uzbekistan joined the World Bank in 1992. The World Bank's mission in the country is to improve people's livelihoods through being a partner in economic reforms, supporting the modernization of the country's social sectors and infrastructure, and sharing its knowledge and experience with the government and the people of Uzbekistan. Current World Bank commitments to Uzbekistan amount to over US$1.6 billion.
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Ministry of Agriculture and Water Resources of Uzbekistan will modernize Andijan and Tuyamuyun hydro power stations in 2015-2019 due to own resources.
The projects will be realized within the programme of measures on ensuring structural reforms, modernization and diversification of production for 2015-2019, approved by the Uzbek President on 4 March 2015. The projects' cost is US$16 million.
Installation of modern equipment at the hydro power stations will help to increase electricity production up to 730 million KWH a year, Review.uz reported.
Till the end of 2019, the Korean consortium Hyundai Engineering & Construction and Daewoo International will modernize Tupolang waterworks facility in Surkhandarya region.
In line with the contract with Uzsuvenergo (part of the Ministry of Agriculture and Water Resources), the Korean companies will construct two energy units with capacity of 72.5 megawatts each, which will help to increase electricity generation to 430 million KWH a year.
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USACC is pleased to invite you to the 1st U.S.-Azerbaijan Banking & Finance Forum. The forum will take place at the heralded Harvard Club of New York City on Tuesday, May 26, 2015.
Organized by the United States-Azerbaijan Chamber of Commerce (USACC), based in Washington, D.C., and powered by two leading regional banks, International Bank of Azerbaijan and PASHA Bank, the 1st U.S.-Azerbaijan Banking & Finance Forum will highlight the important issues that will play a major role in the expansion of U.S. - Azerbaijan banking and finance relationship. Government officials, banking leaders as well as members of the international financial community will discuss and evaluate the economic potential of the region, focus on such crucial and timely topics such as the future of banking industry in the region in light of decreased oil prices, shifts in regional dynamics and its implications on the capital marketplace, cross border finance and private equity. The aim of the forum is to raise the awareness on the issues of concern for the region and explore the opportunities for cooperation.
Welcoming Speech: Susan Sadigova, Executive Director, USACC Bill Delahunt, Co-Chairman, USACC
Keynotes: H.E. Elin Suleymanov, Ambassador, Embassy of the Republic of Azerbaijan to the United States Farid Akhundov, Chairman, PASHA Bank Moderators: Tal Barak Harif, Top Editor, Bloomberg LP Daniel Bases, Senior Correspondent, Reuters Speakers: Zubaid Ahmad, Vice Chairman, Citigroup Rashad Hajiyev, Deputy Chairman/CFO, International Bank of Azerbaijan Brian A. Ruane, Executive Vise President, BNY Mellon Taleh Kazimov, CEO Designate, PASHA Bank Rupert Scofield, President & CEO, FINCA International James Hogan, Managing Partner, Dentons Michael Lally, Executive Deputy Assistant Secretary, U.S. Department of Commerce Christian Mulder, Senior Manager, The World Bank Treasury
More speakers to be announced.
We hope you will join us for this one-of-a-kind opportunity to learn more about Azerbaijan and the region, meet key business leaders, fund managers and government officials from both countries and forge new partnerships for your business.
For sponsorship opportunities please contact us at chamber@usacc.org or 202-333-8702.
Visit Website & Register
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INVITATION TO ATTEND
2015 U.S.-UZBEKISTAN ANNUAL BUSINESS FORUM
8.30 am - 4.00 pm
Tuesday, October 13, 2015
Pavilion Room
The Ronald Reagan Building and International Trade Center
1300 Pennsylvania Avenue NW
Washington, DC 20004
UZBEKISTAN KEYNOTE SPEAKER:
Mr. Elyor Ganiev, Minister of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan (confirmed)
US SPEAKERS:
Ms. Nisha Biswal, Assistant Secretary of State, South and Central Asian Affairs, US Department of State(invited)
Mr. Michael Lally, Executive Deputy Assistant Secretary, Europe, Middle East and Africa, US Department of Commerce (confirmed)
Mr. Raymond Ellis, Vice President & Manager, Global Business Development Division, Export-Import Bank of the United States (confirmed)
The event will be followed by a reception to welcome members of the official Uzbek delegation and the forum's participants
More information about the forum's speakers and agenda to follow.
Organized by the American-Uzbekistan Chamber of Commerce
Sponsored by The Ronald Reagan Building and International Trade Center
For more sponsorship opportunities, please contact AUCC at 202-509-3744 and info@aucconline.com
AUCC would like to invite all interested parties to participate in the 2015 US-Uzbekistan Annual Business Forum and hear the Uzbek Government plans and opportunities for our members' increased trade and investment engagement in the market that can help US become a leading business partner. AUCC members will also share their success stories to encourage more US companies to do business and invest in Uzbekistan.
AGENDA:
The American-Uzbekistan Chamber of Commerce (AUCC) is the only trade association in the United States and Uzbekistan that exclusively represents the business interests of U.S. companies active in the Uzbek market. Established in 1993 and based in Washington, D.C., AUCC is the first bilateral trade organization that successfully promotes trade and investment ties, cultural exchanges and bonds of friendship between the United States and the Republic of Uzbekistan.
In performing its functions, AUCC places primary emphasis on serving the needs and interests of its members, namely:
The Boeing Company, Case New Holland Industrial, The Coca-Cola Company, FMN International, General Electric, General Motors, Harris Corporation, Honeywell, Indsur Stelcor, Inc., Lockheed Martin, Nukem Inc., Rio Tinto, Solar Turbines, Sustainment Solutions, Inc., White & Case LLP and Zeppelin International AG. These companies are united by one common cause: promotion of trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan.
Today, Uzbekistan represents the largest market in the Central Asia region with a population of almost 30 million people, an annual GDP growth of 8% and a well-established and diversified economy. American companies invested more than $500 million in the Uzbek economy during the period 1992 to 2012. In addition, U.S. exports to the Republic of Uzbekistan amounted to more than $3.3 billion. The year 2012 is a good example when US exports to Uzbekistan totaled more than $285 million compared to $100 million in 2011 and $101 million in 2010. In 2013, the trade levels continued to increase reaching a record $386 million. During the first nine months of 2014, the US-Uzbekistan trade turnover amounted to $281 million. While this is good news, the volume of U.S. exports and investments in this largest Central Asian market is lower than those of Uzbekistan's near neighbors, including Russia with its' 2013 exports to Uzbekistan reaching more than $7.1 billion; Сhina - $5.2 billion and Korea - $2.1 billion.
To register and learn more about the forum, please click here. Seating is limited.
Please respond by Monday, October 5, 2015 to confirm your participation.
Admission Fee:
$00.00 - AUCC members ONLY and the US Government offices
$100.00 - All other companies and organizations
Cancellations received within 48 hours of the event are non-refundable.
Click on the link below to register or RSVP.
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For more information about the event, please contact AUCC office at info@aucconline.com or call us at 202-509-3744.
Thank you for your attention and response. We look look forward to seeing you on Tuesday, October 13, 2015.
Sincerely,
The American-Uzbekistan Chamber of Commerce
202-509-3744
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CONTACT INFORMATION:
The American-Uzbekistan
Chamber of Commerce
1300 I Street, N.W.,
Suite 720W
Washington, DC 20005
phone: 202.509.3744
info@aucconline.com
www.aucconline.com
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