American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
  
Week in Review:
 
May 8, 2015 - May 15, 2015
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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.

Azernews

May 14, 2015 

 

Russia's Lukoil started trial operation of two rigs of preliminary gas preparation in the North Shady area and the Kuvachi-Alat field in Bukhara region (south of Uzbekistan) jointly with the National Holding Company Uzbekneftegaz within the framework of Early Kandym gas project, which is being implemented in Uzbekistan, the company reported.

Rigs with a total capacity of 2.2 billion cubic meters of gas a year will receive natural gas from 34 wells and after preparation will deliver raw materials to the Mubarek Gas Processing Plant. Commissioning of new facilities will allow LUKOIL to significantly increase the volume of gas produced in Uzbekistan, said the message.

Early Kandym gas is the first stage of the project for the integrated development of Kandym group of fields within the Kandym-Khauzak-Shady-Kungrad PSA. Kandym group includes six gas condensate fields - Kandym, Kuvachi-Alat, Akkum, Parsankul, Khoji and Western Khoji. The Northern Shady site of Dengizkul field is located on the territory of Khauzak-Shady, but its improvement is carried out within the framework of the Early Kandym gas project.

Lukoil has implemented the Kandym project since 2004 together with the National Holding Company Uzbekneftegaz under the production sharing agreement (PSA) for the development of the Kandym-Hauzak-Shady-Kungrad fields. Commercial production at the Hauzak site started in autumn 2007.

It was earlier reported that in February 2015, Russian Lukoil and the contracting consortium led by Hyundai Engineering (South Korea) signed a contract for the supply of equipment and construction of the Kandym gas processing plant in Uzbekistan, the total cost of which amounts to $2,662 billion.

The commissioning of the first phase of the gas processing plant is scheduled for July 2018.

At present, Lukoil works over implementation of three projects in Uzbekistan - Kandym - Khauzak - Shady - Kungrad, development of Southwestern Gissar, as well as conducts exploration of the Uzbek part of Aral Sea as part of an international consortium. Investment in the project will exceed $1.2 billion, the level of gas production - 4.2 billion cubic meters per year.

By 2016, Lukoil plans to produce in Uzbekistan at least 18 billion cubic meters of gas per year.

 

Cihan

May 14, 2015 

 

The annual production of hydrocarbons in Uzbekistan will increase by 1.9 percent in 2019, compared to 2014, while the natural gas production will increase by 2 percent, according to the materials of Uzbekneftegaz national holding company.

The materials were made public during Uzbekistan International Oil & Gas Exhibition 2015 that opened in Tashkent May 12.

The data about the hydrocarbon production volume in Uzbekistan hasn't been published in the past two years.

Uzbekistan reduced the oil production by 7.1 percent and brought it to 2.9 million metric tons in 2013, while the gas production was lowered by 2.6 and stood at 55.2 billion cubic meters, according to British company BP.

A program for development of Uzbekistan's oil and gas industry for 2015-2019 has been worked out and submitted to the country's leadership, according to Uzbekneftegaz.

The implementation of the program will ensure 468.7 million metric tons of increase in oil equivalent, including 365 billion cubic meters of increase in natural gas reserve, according to the materials of Uzbekneftegaz.

The capacity of Uzbekneftegaz currently allows producing around 70 billion cubic meters of natural gas and 8 million metric tons of liquid hydrocarbons per year.

Recoverable proven hydrocarbon reserve of Uzbekistan exceeded 2.5 billion metric tons of oil equivalent as of early 2015 and around 65 percent of this volume accounted for gas reserve.

 

Azernews

May 13, 2015 

 

Summarizing the results of small-scale business in Uzbekistan's GDP over the first quarter of 2015, Uzbekistan's Economy Ministry and the State Statistics Committee announced an increase on the GDP share small business now occupy - 41.7 percent compared to 41 percent for the same period in 2014.

In the first quarter 2015, Uzbekistan saw the creation of over 8,000 new small businesses - this is an increase of over 10.2 percent compared to the same period in 2014, read a statement of Uzbekistan Economy Ministry and the State Statistics Committee.

The largest number of small businesses created in the industry sector and other manufacturing industries: 37.7 percent of the total - construction: 11.5 percent and trade and catering: 29.3 percent.

In the framework of the program of state property privatization for 2015-2016, 55 state-owned assets were transferred to private owners for a total of 28.3 billion soums, since the beginning of the year, including 13 objects at zero redemption value, with the adoption by investors of obligations to make investments to the amount of 9, 7 billion soums.

In addition, as a result of measures implemented to optimize the country's unused area, 80 unused redundant industrial premises and facilities have been earmarked for privatization.

In order to support business activity in the first quarter of this year, an estimated 2.8 trillion soums in loans were allocated to small business entities, including more than 590 billion soums in micro credits, with an increase by 1.3 times compared to the same period in 2014. International institutions provided small businesses loans to the amount of $38.3 million.

The state financed 14 projects worth over 10 billion soums with the support of the Association of Banks of Uzbekistan, through its investment projects.

Due to the measures implemented to improve access of private enterprises in trade and commodity, markets have witnessed a sharp increase in the number of small businesses in the country. The supply of goods and services for public procurement has increased 4 times over in comparison to the same period in 2014. The total number of which amounted to 34,200 business entities, or 98.3% of all public procurement participants.

As a result, small businesses have seen their share in public procurement amount to 77.9 billion soums since the beginning of the year (99.6 percent of the total public procurement carried out by means of electronic trading).

 

AUCC

May 15, 2015 

 

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)

Ms. Laura Tuck, Vice President for Europe and Central Asia, World Bank (invited) 

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 [email protected]

 

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.
Register Now!
For more information about the event, please contact AUCC office at [email protected] 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
 

 


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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