November 28, 2018 Compliance Committee initial meeting
For international business, especially multinational companies that operate globally, compliance is an important aspect of their activity. The failure to comply to the rules can have severe consequences for businesses. The best practices are stipulated by several legislative acts, which include the Foreign Corrupt Practice Act (FCPA) introduced in the USA in the 1970s and the EU’s main legislative act introduced by the GDPR in May of 2018. The FCPA enforced anticorruption and compliance and was significantly complemented by the GDPR. Both are wide ranging and apply to anyone doing business in the US and the EU and with US and EU citizens and entities. Companies found guilty in violation of compliance rules are subjected to criminal or civil actions that include fines, suspension, exclusion of licenses and government contracts as well as other penalties. Liable employees, compliance managers and directors can also be subject to prison sentences. Penalties vary from $2 million per violation (which could apply to each illegal payment) for a company, and $250, 000 and/or up to 5 years of imprisonment for each violation for culpable indiv...
November 15, 2018- Tourism seminar. Global Entrepreneurship Week
The tourism sector has contributed 10% to the global GDP last year. This sector of the economy requires a comparatively small investment while allowing for generation of hard currency inflow. The creation of small and medium enterprises and start-ups in technologically advanced countries in the private sector has provided much needed employment to the local population. Therefore, a full day was dedicated to the tourism industry of the Global Entrepreneurship Week ( GEW) held in Tashkent during November 12-17, 2018. The AmCham Tourism and Hospitality Industry Committee held the seminar “Why Uzbekistan: tourism sector development issues” during the GEW. Over 100 participants from the tourism sector of Uzbekistan including state agencies (state tourism agency, national railways and airlines), hotels, tour operators and international airlines attended the seminar. Anvar Allagergenov, the Head of the department, State Committee of Tourism Development stated “The government of Uzbekistan puts a priority on the tourism sector development in Uzbekistan, therefore the reforms in this sector are tremendous with 140 practical measures that ...
October 17, 2018 AmCham Seminar on Intellectual Property Rights
AmCham in Uzbekistan joined with Legalmax Law Firm to present a seminar discussion on “Attracting Investment- The Case for Intellectual Property Rights”. The seminar was organized in the framework of the Eighth Annual Central Asia Trade Forum that was co-hosted by the United States Agency for International Development (USAID) and the Ministry for Foreign Trade of Uzbekistan. Over 100 participants attended from private sector companies in Central Asia and government officials from the State Customs Committee, the Ministry of Trade, the Ministry of Innovations and the State Agency for Intellectual Property Rights Protection. AmCham Honorary President Donald Nicholson II welcomed guests and was quoted as saying “the importance of the Intellectual Property Rights (IPR) issues is supported by the fact that the biggest companies that currently operate globally, like Coca-Cola, Google, Tesla and others have reached their success due to investment in research and development, innovations, and technological advances. Be it the unique formula of Coca-Cola, conveniently modified solar battery of Tesla, or unique software for Google. Therefore, th...
AmCham’s first HR Committee
On March 16th, 2018, the American Chamber of Commerce of Uzbekistan was happy to have successfully conducted its first Committee meeting discussing Human Resources. This meeting was attended by representatives of many international companies and their local subsidiaries, namely HRC, UzCarlsberg, Radisson Blue Hotel, Ernst & Young, UzBAT, KPMG, Nestle Uzbekistan, Ucell, Hotel Wyndham, and PepsiCo as well. The aim was to set goals for the Committee and discuss future developments in the HR sphere. During the meeting, it was agreed that all Committee members would share with each other their modern and international practices for business development, while also combining all members’ HR representatives into a single group in order to facilitate partnership. Certain concerns were raised as to the current state of Uzbek labor laws and how they could be amended by working more closely with the Ministries of Labor and Justice. Overall, however, the Committee’s meeting was considered a soaring success, and, as a result, it was decided to organize similar meetings every 3 months or earlier, should an emergency situation arise. AmCham remains co...
Tourism and Hospitality Committee First Plenary Session
The first plenary session of the Tourism and Hospitality Committee of AmCham Uzbekistan was held at the Hyatt Regency Tashkent on January 16, 2018 with the participation of members in the tourism and hospitality sector. Also participating were the Ambassadors of Israel, Bangladesh and Ukraine, representatives of the Latvian Embassy, the European Union Delegation, the Deputy Chairman of the State Committee of the Republic of Uzbekistan on Development of Tourism, Mr. Shakhrukh Sharakhmetov, and Advisor of the General Director of Uzbekistan Airways, Mr. Orhan Sivrikaya. The fundamental purpose of this committee is to put heads together to discuss issues of common interest related to the sector, and benefit from the rapid and positive changes currently occurring in Uzbekistan. The Chairman of the Tourism and Hospitality Committee of AmCham Uzbekistan, General Manager of Hyatt Regency Tashkent and Area Vice President, Mr. Puneet Tandon, in his opening remarks reminded participants that accelerated development of the tourism industry’s contribution to the economy, including diversification and improvement in the quality of tourist services, a...
CSR Committee meeting on December 20, 2017
Our CSR Committee has restarted its activity after one year break. Newly elected CSR Committee Chairman Nodira Yadgarova gathered representatives of Ucell, Nestle and Train Consultancy, engaged in CSR activities in their companies, to discuss the plans for the next year. During the meeting it was revealed that the companies have their own charity projects and they are developed in order to cover directly or implicitly all stages of Maslow's Hierarchy of Needs. While helping people in need to satisfy their physiological needs, such as food, medical treatment and shelter, the companies are developing projects which will help those people to raise their self-esteem and integrate in the society. One of the directions is trainings for people in need and a group of volunteers who try by their own efforts to help those people in need. As an old Chinese saying goes, it is better to teach one the skill of fishing than to offer him fish. AmCham CSR Committee will serve as a platform where by mutual efforts long-term projects proposed by our member companies will be implemented. We are going to attract UNICEF, USAID and other international organizat...
World Bank AmCham Roundtable Discussion
In his visit to Uzbekistan, Mr. Cyril Muller, World Bank Vice President for Europe and Central Asia, spent two days focused on private sector issues and the continued development of the business climate. His agenda included a meeting with the President of the Republic of Uzbekistan Mr. Shavkat Mirziyoyev. The parties exchanged views on priorities of bilateral cooperation, discussed key areas of partnership, and implementation of prospective projects.  In a roundtable discussion between World Bank representatives and AmCham gold, platinum, and silver members, strategies for support of further development and cooperation between the World Bank and Uzbekistan were discussed. This event was chaired by Mr Muller, World Bank Vice President for Europe and Central Asia, along with additional representatives including World Bank Central Asia Regional Director, Ms Lilia Burunciuc; International Finance Corporation (IFC) Central Asia Regional Manager, Mr Moazzam Mekan; World Bank Acting Country Manager and Lead Economist, Mr Jan-Peter Olters; World Bank  Senior Communications Officer, Ms Meriem Gray; and IFC Country Officer, Mr Zafar Khashimov. ...
First meeting of Digital Transformation Committee in AMCHAM Uzbekistan
On May 18, 2017 AMCHAM hosted the first event of the Digital Transformation committee - Workshop on Customer Transformation. The honorary speaker of the event, Mr. Dmitriy Beresnev (Microsoft) informed participants on latest trends how technology helps companies to improve customer experience and answered related questions. The event was divided into two parts: Digital and Customer Transformation. During the first part Mr. Beresnev reviewed the following main trends behind digital transformation: Internet of Things, Artificial Intelligence and Big Data. In the second part of the meeting, the Speaker discussed in detail how these trends are reshaping Customer Relationship in everyday life. The inspiring examples from Tinkoff Bank, Superjob.ru and Domodedovo Airport demonstrated the amplitude of changes brought by digital technologies.   The next event within Digital Transformation committee is planned for late September. The exact date will be communicated by the AMCHAM management.
Meeting of Agriculture & Food Processing Subcommittee
A meeting between members of the Agriculture & Food Processing Subcommittee and representatives from the International Finance Corporation (IFC) was held at the AmCham office on 11 April 2017. Chairman Dale Henry welcomed participants and special IFC guests who were here to brief the committee on Sustainable Development, and the Cotton Value Chain project in Uzbekistan. Following the meeting was an in-depth presentation on the Cotton Value Chain project by Oksana Varodi, an IFC representative with 15 years of experience. According to Ms Varodi, the project aims to bring Environmental, Social and Financial Sustainability to Uzbekistan’s Cotton Value Chain. In order to meet these goals, a package of productivity improvements will be introduced, including industry best practices from the United States and elsewhere. Uzpakhtasanoat Export Holding is the key national level partner to IFC acting in a consulting role for the project. The Ministry of Labor, Trade Unions, local district government (“Hokimiyat”), Agriculture Department, and Ministry of Agriculture and Water Resources will promote the Project at lower levels. The Project’s pil...
Meeting with Deputy Chairman of Senate – Sadiq Safoyev
On Friday 10 February 2017, Deputy Chairman of the Senate, Sadiq Safoyev, visited the AmCham office where he met with a group of AmCham directors, members, and representatives from the U.S. Embassy. Don Nicholson, AmCham President, chaired the meeting and introduced the Senator to those attending.   During the hour-long discussion the Senator outlined the Uzbek Government's proposed plan and provided details on specific issues. The Senator responded to questions from various AmCham members and elaborated on other key matters of interest to foreign investors.   Further development of the continued cooperation between AmCham and the Government of Uzbekistan was discussed. It was mentioned that AmCham will be a member of the Council for Foreign Investors which will be established by the Government of Uzbekistan in the near future. Other avenues of collaboration between AmCham and the Uzbek Government were also discussed at the meeting.