January 18 and January 23, 2019 AmCham Tax and Accounting Committee Seminars (edited) Dozens of changes and additions to the Tax Legislation of the Republic of Uzbekistan were introduced in January, 2019. AmCham had received number of requests to provide clarification on new taxation, especially surrounding legislation and procedures related to the Value Added Tax (VAT), which came into force since January, 2019. To provide clarification and to advise members, the Tax and Accounting Committee of AmCham in Uzbekistan organized two seminars in January. Special thanks go to Uzbekistan British-American Tobacco, an AmCham Platinum member, who graciously hosted both seminars. The first 4-hour seminar was held on January 18. This seminar covered general changes in the Tax Legislation of Uzbekistan. All the changes were stipulated by a number of legislative acts including: PP-4086, dated 26.12.2018 on “Forecast of the main macroeconomic indicators and parameters of the state budget of the Republic of Uzbekistan for 2019 and budget indicators for 2020-2021. In particular, “The Law of the Republic of Uzbekistan” #3PY-508 dated 24.12.2018 which...

Dear Sir/ Ma’am, You are invited to join a tourism seminar “Why Uzbekistan: tourism sector development issues” organized by AmCham Uzbekistan in the framework of the Second Global Entrepreneurship Week. On Thursday, November 15, 2018 from 14:00 pm till 15:30 pm The registration for seminar opens at 13:30 At the Palace of Youth Creativity Located at: 2, Mustaqillik Avenue, Tashkent (map is enclosed) The panel members of a seminar include international experts from the tourism and hospitality industry:  Ulugbek Kasimkhodjaev, First Deputy Chairman, State Committee for Development of Tourism of Uzbekistan  Puneet Tandon, Hyatt Regency, Area Vice President, General Manager  Kate Tetley, the British Council (London, UK), Skills Expert from People 1st  and others  Zia-Ul Haque, Sitara International – Moderator Discussion of the most pressing tourism issues e.g. visas, education of staff, logistics, supply chain, medical services and others, with participation of: • Leading tour operators • Hotels • Airlines • Railways • and others Seminar will be conducted in English. If you have any particular q...

On October 18, Damir Deminov, Senior Manager of EY People Advisory Services, delivered a workshop on performance evaluation and motivation of personnel in Tashkent. The event was attended by Directors and HR specialists of the Central Bank of the Republic of Uzbekistan, international and local companies in the automotive, pharmaceutical, consumer, media and other sectors. The workshop participants discussed personnel assessment tools and special aspects of relationship between the performance evaluation and personnel motivation. EY is currently conducting a survey of salaries and compensations in Uzbekistan for the first time. This free of charge workshop was attended by the survey participants as well as representatives of the wider business community. EY contact details Tel.: +7 727 258 55 88 Email: PeopleAdvisory@kz.ey.com

Dear AmCham members, You are invited to join a seminar “Attracting Investment – The Case for Intellectual Property Rights” organized jointly by AmCham Uzbekistan and Legalmax Law Firm in the framework of the Eight Central Asia Trade Forum. On Wednesday, October 17, 2018 from 14:00 pm till 15:30 pm At the Palace of Youth Creativity (the Theater) Located at: 2, Mustaqillik Avenue, Tashkent (map is enclosed) The program of a seminar includes speakers of the regional representatives of the biggest multinationals in FMCG, ICT, pharmaceutical sectors: - Olga Voronova, Central Asia Manager, Procter and Gamble - Sergey Levin, Trademark counsel, Eurasia & Africa, Coca-Cola - Anvar Ikramov, Head of Legal Department, Nestle - and others Discussion of the most pressing issues in the region e.g. aspects related to the protection of trademarks, counterfeit goods, parallel import and customs regulation with participation of: - State Customs Committee - State Patent Agency - MICT - Ministry of Foreign Trade Seminar will be conducted in Russian and English. If you have any particular questions...

Eighth Central Asian Trade Forum (CATF) will be held in Tashkent on October 17-18 at UzExpoCenter. CATF provides a unique platform for businesses to explore new opportunities in Central Asia’s emerging markets that have over 70 million potential customers. Last year over 1,100 visitors from 18 countries attended the forum. This year’s CATF theme is New Horizons in Trade and Investment. CATF is a flagship initiative of the US Government. AmCham Uzbekistan will act as a Partner of the event this year and will host IPR Session during the Forum. We hope you will seize this unique and timely opportunity to participate in the forum – as thought leader, patron, or exhibitor. For more information, please visit http://catradeforum.org/ CATF 2018 brochure June 26 2018 (3)

On September 12, 2018, AmCham Board of Directors and Platinum members were invited to a dinner event with the visiting Principal Deputy Assistant Secretary (PDAS) for Economic and Business Affairs of the U.S. Department of State, Brian McFeeters. Participants exchanged views on current trade and regulatory reform practices, investment climate and foreign direct investment. They also discussed prospects for increasing economic cooperation between Uzbekistan and the United States including the development of trade and investments and the implementation of mutual agreements. PDAS McFeeters stressed that the relationship between the two countries is flourishing with increased visits of high level Uzbek officials to the United States. President Shavkat Mirziyoyev’s US visit and meeting with President Trump in May of this year was followed up with visits from delegates from the Ministry of Foreign Affairs, the Senate and other representatives. As a result, bilateral trade has increased. The trade turnover has increased from $210.2 million USD in 2017 to $300 million USD in 2018. There is a significant potential for further increases as coop...

Member- associations and management of the American Chamber of Commerce in Uzbekistan participated in three days training for Business Associations. The training was organized by Center for International Private Enterprise (CIPE) and delivered by highly professional trainers as Ulug Kydyrbaev, founder of multiple business associations in Kyrgyzstan. Participant were taught practical tools to improve management of associations e.g. performance evaluation, budgeting and finance aspects, comparative analysis, strategic planning, marketing and strategy, personnel development. They discussed cooperation versus rivalry between associations and learned on how to better deliver services to members including advocacy, lobbying and networking. Membership development was covered separately along with the vital issue on how to perform corporate functions provided limitations in the resources (human and capital) associations frequently face among many others. Please check http://cipe.org/ for details on CIPE projects and programs.

On Friday August 17 the Board of AmCham met with a visiting OPIC delegation headed by Executive Vice President David Bohigian. "Uzbekistan and the region present attractive opportunities and we are pleased to travel here to meet with government and business leaders to discuss the country’s needs and identify opportunities for future U.S. investment. OPIC seeks to support Uzbekistan and its people through investments that focus on natural resources, energy, and infrastructure projects,” said Mr. Bohigian. By committing to a Five Year Strategy of Action that promotes good governance, judicial reform, rule of law, economic liberalization, social development, and an open and constructive foreign policy Uzbekistan is committed to a positive path for its people. Historically, OPIC has invested $231 million in Uzbekistan and more than $1 billion in Central Asia. OPIC is not an aid organization, so it does not give out grants. Instead, it provides financing to U.S. private sector companies to invest in emerging markets, like Uzbekistan, with projects that help drive economic growth and stability, and create local jobs. The Board exchange...

On Thursday August 16 the Board of AmCham met with Assistant US Trade Representative for South and Central Asian Affairs Mark Linscott and Assistant US Trade Representative for Trade Policy and Economics Edward Gresser. The delegation was in Tashkent to discuss with Uzbekistan the requirements for continuing the use of the US Generalized System of Preferences (GSP) trade program, as well as the process of Uzbekistan’s accession to the World Trade Organization (WTO). During the discussions, the role of protecting intellectual property rights and eradicating forced labor in accordance with international standards were considered, which are necessary for continuation of getting the advantages of the trading system as part of the GSP program. The Board had a very fruitful meeting with the visitors and shared its view on the ongoing reforms taking place in Uzbekistan.

On 8 August, Platinum members of AmCham Uzbekistan chaired by the President of AmCham Uzbekistan Hugo Minderhoud hosted Air Products top management delegation headed by the Chairman of the Board of Directors, President and CEO of Air Products (USA) Seifi Ghasemi in AmCham office. Air Products delegation came to Uzbekistan to discuss their plans to establish production of industrial gases in Uzbekistan. During the visit they met with the Deputy Prime Minister of the Republic of Uzbekistan - Chairman of the Board of Uzbek oil and gas company “Uzbekneftegas” Alisher Sultanov. In order to fulfill the request of Air Products’ CEO Seifi Ghasemi to organize a meeting with the prominent foreign investors present in Uzbekistan, “Uzbekneftegas” approached AmCham Uzbekistan to host a meeting with the Platinum members of the Chamber. Coca-Cola, GM Uzbekistan, General Electric, Ucell and other investors took part in the meeting. The realm of investment climate and foreign business prospective in Uzbekistan were discussed. The event was covered by Uzbekistan 24 TV channel. Air Products (NYSE:APD) is a world-leading Industrial Gases company in opera...

Principal Deputy Assistant Secretary for South and Central Asian Affairs Alice Wells and H.E. Ambassador of H.E. Pamela Spratlen, U.S. Ambassador to Uzbekistan visited AmCham Uzbekistan office to meet with our Platinum Members on January 31, 2018. Our Platinum members, among which are General Motors Uzbekistan, PWC, Beeline and AKTE LLC, shared their impressions from the recent progress in doing business in Uzbekistan. During her official visit to Tashkent, Alice Wells met with senior government officials to discuss progress made under President Mirziyoyev’s reform agenda. International and regional affairs, economic and security cooperation were discussed as well. Alice G. Wells, a career Foreign Service Officer, assumed her duties as Principal Deputy Assistant Secretary for South and Central Asia on June 26, 2017. She previously served as the United States Ambassador to the Hashemite Kingdom of Jordan; a senior adviser in the Near Eastern Affairs Bureau in the Department of State, as Special Assistant to the President for Russia and Central Asia in the White House (2012-2013); Executive Assistant to Secretary of State Clinton (20...

Dear AmCham members! Happy New Year!!! I hope you had a great New Year’s holiday and came back to your regular business. We are starting 2018 with fresh ideas for CSR committee perspective. The success of our mission depends on everyone that contributed with fair share to the common good. As the result on 20th of December 2017, CSR committee organized the initial meeting with CSR members, where the members shared with their own experience and discussed about further implementation of some social corporate start up projects together. The next meeting was scheduled for 23rd of January 2018. We are welcome new members to join us. One of the first initiative that we succeed at the end of 2017 it was a Charity Action. On the eve of New Year with our short notice and your quick responds we were able to gather 68 New Year presents for kids! We are truly thankful to everyone who volunteered their time and found funds to prepare boxes of sweets for children. With the support of our local volunteers’ groups we could manage with the short period of time to share among the children from low income families, the children who are blind o...

Dear friends, We have said farewell to a very exciting and dynamic 2017. It has been a year full of events for Uzbekistan and AmCham. Many delegations visited the country and we have welcomed a lot of new members. One of the highlights was, of course, the long awaited liberalisation of the foreign currency market in September, which came much earlier then expected. We all have felt the wind of change introduced by President Shavkat Mirzoyoyev and we applaud his tremendous efforts to open up the country for more foreign investment and trade. The pace of the liberalisation is very fast and it is even difficult to keep up with all the daily changes. We at AmCham are very pleased with the continuing interaction and co-operation with the government. I myself was privileged to be able to participate in the US-Uzbek Business Forum in New York last September and the Gala dinner with the President, truly an historic event. We are looking forward to continue our dialogue with the government and I hereby wish our members and all citizens of Uzbekistan a very prosperous and healthy 2018 !! President of AmCham Uzbekistan Hugo Minde...

Members of the United States Trade Representative (USTR) delegation visit to Uzbekistan in December of 2017 invited AmCham members to participate in a luncheon during the Council Meeting of the U.S. – Central Asia Trade and Investment Framework Agreements (TIFA). During the luncheon, AmCham members had the opportunity to meet with senior officials from the governments of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan who were participating in the council meeting. Representatives from Afghanistan were also participating as observers. The Trade and Investment Framework Agreement (TIFA) was signed in Washington, DC, in June 2004, between the United States, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. TIFA is a high-level platform for dialogue intended to strengthen trade and investment ties between the United States, the nations of Central Asia, and Afghanistan. AmCham Uzbekistan members and USTR delegation representatives discussed the trade, transit, and investment environment in both Central Asia, and the United States. USTR representatives spoke of the challenges of expanding Central Asian expor...

In the recent years we feel more and more that the demand for the human capital in the organizations is increasing. Many business owners and CEOs are expressing need how to attract, manage and retain talents, high potential employees. The main reason behind these to meet the Company’s objectives and enhance its business performance. Human Resources as one of the function which responsible to develop People Strategy, is required to be a leader and a business partner in this term. During the last 5-7 years in our country we are observing that the perception about role of Human Resources is started to change. However there are areas for development and improvement. There is a tendency to effective HRM but still not many Companies or HR teams understand that their responsibilities beyond hiring and firing and , unfortunately the real tendency to increase HR role in organization is rather slow. That’s why Uzbekistan AmCham Human Resources Committee has been created. The goal is to set up an HR Committee within AmCham Uzbekistan to help its members to get acquainted with the latest Human Resources trends and news. We want members ...

The Board of Directors of AmCham Uzbekistan and AmCham members among whom representatives of Central Asian Seed Company, OASIS, Wakefield Inspection Service, General Motors and General Electric were invited by US Ambassador HE Pamela L. Spratlen to the Reception held on November 22, 2017. The reception was organized in honor of a delegation of the US Congress led by a member of the House of Representatives Trent Kelly. Our members had a great chance to discuss the possibilities of strengthening and developing relations with US business circles.

The Vice President of AmCham Uzbekistan, Tõnu Grünberg and Executive Director, Ms. Nazi Aripdjanova participated in an International Round table on improving the investment climate in Uzbekistan which was held on the 8th of November 2017 and brought together representatives of state and international organizations, the largest foreign and local companies. AmCham Uzbekistan Vice President gave interview to Uzbek television. It stands to mention that the majority of participants were presented by members and partners of AmCham Uzbekistan. The round table forum was organized by the Senate of the Oliy Majlis together with the State Investment Committee, the UNDP ‘Improving the Investment Climate in the Republic of Uzbekistan’ project and the EBRD Office to Uzbekistan. Positive changes in investment climate were observed by all speakers, and undertaken measures led to changing the foreign investments inflow decrease tendency, which marked a drop from 3.3 to 1.9 billion US dollars in the period between 2011 and 2016. Participants of the round table as the cause undermining the overall level of investment pointed out the shortcomings of the ...

AmCham Uzbekistan Members are invited to take part in the 1st Annual Global Entrepreneurship Week (GEW) in Uzbekistan organized by our member AMBiT (Association of International Business and Technologies) on November 13-19. Please download the Program of GEW in Uzbekistan to see the information about events and venue. The Global Entrepreneurship Network (GEN) is a year-round platform of programs and initiatives created by the communities that celebrate Global Entrepreneurship Week each November. GEW unifies 17 018 partners, 170 countries, 37 862 events and 10 000 000 participants every year all over the world. During GEW in Uzbekistan more than 3000 people will take part in more than 30 events (on Russian, English and Uzbek languages). Outstanding entrepreneurs, experts from different countries, representative of Uzbek Government will be honorary speakers and moderators on those events during upcoming week. Part of the GEW program will be contests among startup entrepreneurs. Winners will be invited to travel to China and Israel to participate in further contests. Please check the link below for more information: http://www.genuzbe...

President of AmCham Uzbekistan Hugo Minderhoud and Executive Director Nazi Aripdjanova joined the Doing Business 2018 Report Launch where Uzbekistan overall performance on the ease of doing business was discussed. The event has started with welcome speeches of Galina Saidova, the Minister of Economy of RUz and World Bank Governor for Uzbekistan, Lilia Burunciuc, World Bank Director for Central Asia and Cecile Fruman, World Bank Trade and Competitiveness Global Practice Director. Stefka Slavova, Lead Economist of World Bank made a very comprehensive presentation on the results of Doing Business 2018 report. Uzbekistan is placed 74th among 190 countries. The country went 13 positions up compared to last year. Moreover, Uzbekistan is among top ten countries-reformers to create the most favorable conditions for doing business. Hereby the reforms have allowed Uzbekistan to become the leader among the countries of Europe and Central Asia in terms of improving the business environment and simplifying the doing business. Adkham Ikramov, Chairman of the Chamber of Commerce and Industry of Uzbekistan, has acquainted the participants with the pl...

The Board of Directors of AmCham Uzbekistan and AmCham members who participated in American-Uzbek Business Forum held in New York on September 20, 2017 were invited by US Ambassador HE Pamela L. Spratlen to the lunch held on September 29, 2017 in Khiva Restaurant, Hyatt Regency Hotel. The members shared their impressions from American-Uzbek Business Forum. All expressed the same opinion that the Forum was very fruitful; presentations of the representatives of Uzbek government were highly professional and informative. That is the precondition for a meaningful dialogue between USA and Uzbekistan. The President of AmCham Uzbekistan Hugo Minderhoud was one of the honorary guests of the Forum and had a chance to discuss future AmCham activities with Uzbekistan officials. Our members Central Asian Seed Company (CASC), Namuna Diyor, CNH Industries, Grata, Prae Legal, Mercury, Avialeasing, Coca-Cola , General Electric, BAT were among the participants of American-Uzbek Business Forum.

By the invitation of the Senate of the Oliy Majlis of the Republic of Uzbekistan AmCham representatives participated in the conference “Formation of Uzbekistan’s Country Brand” which was held on October 10, 2017 in Radisson Blue Hotel. The conference was held by Alisher Kurmanov, the Head of the Senate Committee on issues of international relations, foreign economic relations, foreign investments and tourism. The President of AmCham Uzbekistan Hugo Minderhoud, Executive Director of AmCham Nazi Aripdjanova, Coca-Cola Country Operation Manager for Uzbekistan Gabil Ahmadov and the Head of Uzbekistan and Kyrgyzstan practice in Ernst & Young Company Anavr Azamov took part in a lively discussion on creating a powerful and positive brand of the country. The President of AmCham Uzbekistan Hugo Minderhoud in his interview to Uzbek TV Channels has mentioned that Uzbekistan brand creation on a global stage is of a great importance and has to cover different segments. A positive brand will be a strong engine for the country development and will strengthen competitive advantages of the country and act for attraction of tourists and foreign investments....

The American Chamber of Commerce avails itself of the opportunity to congratulate HE The President of the Republic of Uzbekistan Shavkat Miromonovich Mirziyoyev and the people of Uzbekistan with the upcoming twenty sixth anniversary of the independence of the Republic of Uzbekistan and is looking forward to enhancing the dialogue with the government on the basis of mutual trust and respect.

The American Chamber in Uzbekistan is pleased to announce that at the last General Assembly the members have elected the following Board of Directors: Hugo W.Minderhoud, AKTE LLC - President Tõnu Grünberg, Ucell - Vice President Vera Bell, Audit-As LLC – Treasurer Anvar Azamov, Ernst&Young – Secretary David Le Blond,  UzBat – Member of the Board Otabek Muhammadiyev, PwC – Member of the Board Gabil Ahmadov, Coca-Cola - Member of the Board Mirpayoz Mirsaatov, Olsoft – Member of the Board Puneet Tandon, Hyatt Regency Tashkent – Member of the Board J. Laurence Wright II, US Embassy in Uzbekistan – Member of the Board Donald Nicolson II, SEAF-SME Investment Management - President Emeritus Nazi Aripdjanova,AmCham-Executive Director AmChamUzbekistan was registered in 1997 and is the leading organisation of international businesses people in Tashkent. Our mission is promoting and assisting the business interests of our members in conformity with good international business practices and the governing rules of the Republic of Uzbekistan and the United States of America.

Technology has disrupted the way companies conduct business. Small businesses can take advantage of new technologies and level the playing field with larger organizations. Small business owners should also consider utilizing technology in their planning processes. This allows owners to conduct operations using the best available technology. Businesses in Uzbekistan can benefit greatly by increasing their efficiency and competitiveness by undergoing a digital transformation. The process of embracing this trend in Uzbekistan is, unfortunately, rather slow. This is why the AmCham Digital Transformation Committee was created. The goal is to set up a Digital Transformation Committee within AmCham Uzbekistan to help its members to get acquainted with the latest digital and technological trends. We want members to be part of the conversation. AmCham offers its impeccable reputation as a hub for influential and innovative companies. Softline will assist by offering its internationally recognized expertise in technology services and consulting. The Committee’s mission is to: Promote digital transformation by creating a place where AmCh...