American-Uzbekistan Chamber of Commerce

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In This Issue:
Uzbekistan, Germany mull regional, int'l problems
March 30, 2016

Uzbekistan and Germany have discussed various aspects of bilateral relations and exchanged views on regional and international problems, Uzbekistan's Foreign Ministry said.
The discussions were held between Uzbekistan's Foreign Minister Abdulaziz Kamilov and Germany's federal minister for foreign affairs, OSCE Chairperson-in-Office Frank-Walter Steinmeier who has arrived in Uzbekistan for a two-day official visit.
The parties focused on the topical issues on the OSCE agenda, as well as the status and prospects for Uzbek-German cooperation within this organization.

ADB, JICA Establish $1.5 Billion Fund to Invest in Private Infrastructure
March 30, 2016

The Asian Development Bank (ADB) today has entered into an agreement with the Japan International Cooperation Agency (JICA) to establish a new fund to support private infrastructure investments across Asia and the Pacific. The fund, Leading Asia's Private Infrastructure, or LEAP, will be capitalized by $1.5 billion in equity from JICA, and will be managed by ADB's Private Sector Operations Department.
Infrastructure development currently accounts for about 65% of ADB's private sector operations. ADB aims to expand large-scale private infrastructure operations by leveraging JICA's resources and risk-bearing capacity.
LEAP will invest in projects at different stages of development through a variety of modalities, including public-private partnerships, joint ventures, infrastructure concessions, and corporate financings, using a range of debt, equity and mezzanine instruments.
It will target a wide range of quality, private sector infrastructure transactions in energy and power generation-with a strong focus on renewable energy and energy efficiency-as well as water and urban infrastructure, transport, information and communications technology, and health.
 "The creation of the LEAP fund demonstrates the commitment of ADB, the Government of Japan and JICA to providing substantial new resources for infrastructure development in Asia and the Pacific," said ADB President Takehiko Nakao. "Quality and sustainable infrastructure supports our core mission to achieve poverty reduction and sustainable development in Asia and the Pacific.  We expect the fund will generate at least $6 billion in total financing in this important sector, combined with ADB's own capital and that of commercial cofinancing partners."
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members - 48 from the region.

Uzbekistan modernizing power plants
March 28, 2016

Uzbekistan's state energy company Uzbekenergo plans to modernize the Shakhrikhan hydro power plants cascade (UFK-1 HPP) through funds from the World Bank Group, said the press service of Uzbekenergo.
Modernization will increase the HPP's capacity from 1.5MW up to 2.3MW and electricity generation from 16.4GW up to 18.24 GW. The Program for the development of Uzbekistan's hydropower industry for the period 2016-2020 provides for saving the country's hydrocarbon resources by means of deep diversification of the country's fuel and energy balance, technological modernization of existing and creation of new hydropower facilities with the use of energy efficient technology, Novosti Uzbekistana news agency reported. In line with the Program, during the next five years Uzbekenergo will modernize 11 hydro power plants, which will allow generating an additional 3.4 billion kilowatt-hours of electricity per year. The modernization is estimated to cost US $507 million, including $168 million of the company's own funds and $338 million of borrowed funds. Russia's Siloviye Mashiny company late in 2015 completed modernization of the 3rd power unit of the Charvak hydro power plant, the largest (620MW) plant of the Chirchik-Bozsui cascade. The Russian company and Uzbekenergo signed a contract for modernization of four generating units of the Charvak HPP in 2011. The modernization project costs $56.5 million. It will increase the power plant's capacity by 45MW.

Uzbekistan's Mining Fiscal Regime: H1 2016 - Gold, Copper, Silver, Coal and Uranium - Research and Markets
March 29, 2016

Research and Markets has announced the addition of the "Uzbekistan's Mining Fiscal Regime: H1 2016" report to their offering.
The Uzbek fiscal regime report outlines the governing bodies, governing laws, licenses, rights and obligations and tax-related information for five commodities, which include gold, copper, silver, coal and uranium.
The fiscal regime report covers Uzbekistan which has consolidated its position in many areas of the world mineral raw materials market. It has large mineral reserves, with key deposits of copper, gold and uranium. Other significant mineral resources include coal, silver, tellurium, selenium, rhenium, tungsten, lead and zinc.
The report outlines the governing bodies, governing laws, licenses, rights and obligations and key fiscal terms which includes subsoil use tax, excess profit tax, bonus (subscription and commercial exploration), corporate tax, property tax, withholding tax, value added tax (VAT), excise duty and compulsory contributions.
Key Highlights:
- The State Committee of the Republic of Uzbekistan on Geology and Mineral Resources came into force on February 12, 1991, having been established by a declaration of the President of Uzbek Soviet Republic.
- The subsoil law provides a fundamental legal framework governing the exploration and development of all subsoil resources, including minerals.
- The Agreement of product sharing is generally contracted with foreign investors for a specific period, the exclusive rights for exploitation, and the exploration and excavation of the mineral resource according to the terms of the contract.

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 American-Uzbekistan
Chamber of Commerce
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Washington, DC 20005
phone: 202.509.3744
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