News

AmCham Uzbekistan, in collaboration with Franklin Templeton (Platinum member), was proud to host an exclusive monthly meeting on February 17, 2026, focused on the “Development of the Equity Capital Markets of Uzbekistan.” Over 70 foreign investors, consultants, brokers and other AmCham members joined this exclusive event.

The evening centered on a deep dive into the National Investment Fund of Uzbekistan (UzNIF). The Fund holds strategic minority stakes (ranging from 25% to 40%) in 15 of Uzbekistan’s key State-Owned Enterprises (SOEs), with an approximate valuation of USD 1.93 billion.

The Three Core Pillars of UzNIF:
• Corporate Transformation: Driving efficiency and modernization within SOEs.
• Enhanced Governance: Strengthening the role and independence of Boards of Directors.
• IPO Readiness: Preparing the Fund and its portfolio companies for public offerings.

The subsequent panel discussion highlighted pivotal shifts in the local financial landscape, including the new draft law on Capital Markets recently submitted to the Presidential Administration. Panelists also discussed increasing accessibility for local investors, specifically the growing opportunities for Uzbekistani citizens to purchase shares via mobile applications.

A Sincere Thank You to Our Expert Panelists:
• Marius Dan, CEO – Central Asia, TGI
• Karen Srapionov, Director, Investments, FTAM
• Sardor Koshnazarov, Independent Expert
• Fayzulla Tashov, Acting Chairman of the Board, Republican Stock Exchange “Toshkent”
• Aliy Akbarov, IR Manager, FTAM (Moderator)

About UzNIF https://www.uznif.com/en-uz

AmCham Uzbekistan successfully hosted its January Monthly Meeting on the Market Launch and Business Opportunities of Renewable Energy Certificates (I-REC(E)). 

The event brought together 70 participants, both in-person and online, including business leaders, energy producers, exporters, and ESG professionals, to discuss the role of I-REC(E) in supporting sustainable energy and international reporting standards.

The panel discussion featured:
• Temur Malik Narzikulov, Director, Center of Green Economy Projects under the Ministry of Economy and Finance of the Republic of Uzbekistan, who presented the market launch, regulatory framework, and business opportunities of I-REC(E).
• Pakhlavon Nurmatov, Head of Transformation Implementation Office, Uzbekhydroenergy JSC, who shared supply-side insights and practical mechanisms for renewable energy producers.

The discussion was moderated by Tatyana Bystrushkina, Executive Director and ESG Committee Chair at AmCham Uzbekistan.

Following the panel, participants engaged in a highly interactive Q&A and networking session, exchanging ideas and exploring collaboration opportunities in the growing renewable energy and ESG landscape.

I-REC(E) (International Renewable Energy Certificates) confirm electricity generation from renewable sources and help companies document green energy use, support decarbonization goals, and meet ESG and sustainability reporting requirements.

AmCham Uzbekistan hosted its Monthly Meeting Panel Discussion on Capital Markets, gathering over 80 participants from the business community, government institutions, and the U.S. Chamber of Commerce delegation.

Held on October 7, the event fostered an insightful exchange on the future of Uzbekistan’s financial markets and opportunities for bilateral cooperation.

The program opened with welcome remarks by Oybek Khalilov, President of AmCham Uzbekistan, and Khush Choksy, Senior Vice President of the U.S. Chamber of Commerce. Vyacheslav Pak, First Deputy Director of the National Agency for Prospective Projects, highlighted key developments and emerging opportunities in Uzbekistan’s capital markets, followed by a panel discussion on trends shaping the sector.

AmCham Uzbekistan extends its appreciation to all participants and speakers for contributing to this meaningful dialogue.

On September 18, AmCham Uzbekistan was pleased to host its Monthly Meeting with U.S. Embassy Consular Chief Ian A. Turner at the Hyatt Regency Tashkent.

At the request of our members, Mr. Turner provided a comprehensive update on the United States visa application process, timelines, and procedures, as well as the latest information on the AmCham Expedited U.S. Visa Appointment Program.

The session gave members a unique opportunity to address their questions directly to the Consular Chief and to gain clarity on important issues affecting travel and business ties between Uzbekistan and the United States.

 AmCham extends its sincere thanks to Mr. Turner for his valuable insights, and to our members for actively engaging in the discussion.

AmCham Uzbekistan and AUCC members discussed the strengthening of the US private sector in Uzbekistan during a networking breakfast on June 10

🇺🇸 The US-incorporated members of AmCham Uzbekistan engaged with a visiting delegation from AUCC, which included representatives from 25 prominent companies such as Coca-Cola, FLSmidth, Cove Capital, CNH Industrial, Visa, John Deere, American Councils, and others. The companies from AmCham Uzbekistan included Air Products, Mosaic Financial, American University of Technology, Alvarez Marsal, Exadel, Tashkent International School, and others.

The event was moderated by Carolyn Lamm, Chairperson of the American-Uzbekistan Chamber of Commerce (AUCC), and featured Bethany Aquilina Brez, Acting Vice President of the Office of Foreign Policy at the U.S. International Development Finance Corporation (DFC).

The discussion covered challenges and opportunities for US companies in accessing financing, trade, and investment in the sectors of energy, critical minerals, FMCG, IT, finance, education, and others.

We extend our sincere thanks to our partners AUCC and @DFCgov for collaboration.

AmCham Uzbekistan’s Monthly Meeting organized by Real Estate Committee on Current Issues in the Implementation of Escrow Accounts in Uzbekistan, at the Hyatt Regency Tashkent on June 6🚀

Speakers addressed pressing issues in the implementation of escrow accounts, including housing absorption rates, stakeholder expectations, and the implications of the recent Presidential Decree.

AmCham Uzbekistan was proud to co-host an exclusive business reception with the French Chamber of Commerce (CCI France Ouzbékistan) as part of the Tashkent International Investment Forum 2025 🎉

Held on June 10 at the InterContinental Tashkent, the invitation-only event brought together over 120 C-Suite guests of the AmCham Uzbekistan and CCI France, along with high-level delegations from the U.S. and France.

Welcome remarks were delivered by:
• Tatyana Bystrushkina, Executive Director, AmCham Uzbekistan
• Oybek Khalilov, President, AmCham Uzbekistan
• Joanna Golas, Executive Director, CCI France Ouzbékistan

And by our esteemed guests of honor:
🇺🇸 H.E. Jonathan Henick, U.S. Ambassador to Uzbekistan
🇫🇷 H.E. Aurelia Bouchez, Ambassador of France to Uzbekistan

Guests enjoyed an evening of networking and meaningful connections over cocktails and fine cuisine, fostering new partnerships and strengthening business ties between the U.S., France, and Uzbekistan.

🤝 Special thanks to our event sponsors @intercontinental_tashkent and @veolia, for their invaluable support.

AmCham Uzbekistan proudly hosted the first-ever USA – South Korea – Japan Business Networking Forum: Building Bridges in Uzbekistan
May 23, 2025 – a truly impactful gathering that marked a new chapter in trilateral business cooperation.
– Over 100 C-suite executives from American, Korean, and Japanese companies in Uzbekistan
– Insightful perspectives on trilateral cooperation from:
• Ambassador Jonathan Henick (USA)
• Ambassador Won Do Yeon (Republic of Korea)
• Ambassador Takashi Hatori (Japan)

-Presentations by top investors including Air Products, The Coca-Cola Company, LG Electronics, KDB Bank, JETRO, Sumitomo Corporation, and Unico Logistics
– Strategic trilateral policy dialogue with key decision-makers from the private and public sectors

The forum laid the foundation for continued high-level dialogue between policy and business communities, with a strong emphasis on fostering trilateral cooperation and advancing the investment climate in Uzbekistan.

Thank you to all who joined us for this landmark event: the beginning of a promising journey of collaboration and growth.

On May 14, the AmCham HR Committee held HR Lecture at British Management University

The morning began with a campus tour, giving participants a closer look at BMU’s learning environment. The event then brought together HR leaders and young professionals for a series of insightful talks focused on personal growth and career development.

Participants heard from top experts:

• Ekaterina Agandzhanova (Balton Trading Asia) on staying true to yourself in a world full of expectations
• Evgenii Ermakov (Beeline) on five essential skills to build a successful career
• Lazizbek Mamatov (Artel) with a hands-on career development workshop
• Mokhinur Robertson (Coca-Cola) on mastering interview skills

Special thanks to British Management University for hosting and supporting this impactful event!