Business Connections
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Business Connections #11/2008

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President's Letter

Dear Members and Friends,
While the year is half over and we are enjoying the long summer days, there is much to do and we are hopeful that the next several months will be beneficial and fruitful for you. We have a busy schedule of events to help keep you busy and we are encouraged by the prospects of an even more active schedule in the fall. more


Q&A with Sergey Gubenko, the Consular Officer of the
Embassy of Russia in Uzbekistan

Sergey Gubenko, the Consular Officer of the Embassy of Russia in Uzbekistan, has been working in Uzbekistan for 3 years. The Consular Department is located in Tashkent, at the territory of the Embassy. It is provided with a separate entrance, and visitors are admitted according to the "first come first served" principle.

Q.: What are the different types of visa required for entry to Russia by foreign (non-Uzbek) citizens? more
Feature article - Leasing in Uzbekistan

Leasing in Uzbekistan:

The leasing sector in Uzbekistan is alive and well as lease financing becomes more understood and used as a financial tool.

In most emerging and transitional markets lease financing usually follows traditional corporate finance, project finance and private equity. Uzbekistan is no different, in that while leasing has existed for more than ten years, general acceptance and real growth have occurred in the last three years. While specialized leasing companies exist, most lease financing is currently done by the commercial banks. This will change as the sector continues to expand and companies begin to specialize into such areas as car and/or vehicle leasing, operational leasing (where the leasing company provides the operators/crew as well), construction equipment leasing, and systems leasing where software accompanies the hardware being leased. As the sector grows and fragments, it will also become more sophisticated with the leasing companies (known as "lessor") needing to become more knowledgeable about their clients (known as "lessee") requirements and how those can best be served. more

Tax and Customs News

The information contained in this publication is for general guidance only. You should neither act, nor refrain from acting, on the basis of such information. The application of laws and regulations will vary depending on particular circumstances and may also undergo frequent change. You should take appropriate professional advice relating to your particular circumstances and the current status of the laws and regulations. PricewaterhouseCoopers disclaim all responsibility, including in negligence, for all consequences of any person acting on, or refraining from acting in reliance on, information contained in this publication. more

Past AmCham Events - Monthly Meeting 08 June 2006

Summary of the Speech by H.E. Mr. Hayong Moon, Ambassador of the Republic of Korea to Uzbekistan at the AmCham Monthly Meeting June 08, 2006

"Excellencies, dear guests, ladies and gcnllcmcn. First of all, I thank AmCham and its staff for inviting me and giving the opportunity to meet with all of you. I know thai today's topic was given as "Korea's cooperation with Uzbekistan", focusing on their economic relations. more
Executive Director Report

On Mav 23 AmCham President Donald Nicholson II and AmCham Executive Director Tatiana Okunskaya were invited to attend the Annual meeting of the Board of the European Council of American Chamber of Commerce. The original application to join ECACC was approved by the Board of directors of AmCham in Uzbekistan in December 2005 and was filed to ECACC in January 2006.

As it is stipulated by ECACC By-Laws the Executive Director and the President were requested to make a Presentation by AmCham Uzbekistan for its membership application. At the meeting the representatives of AmCham in Uzbekistan were welcomed by the ECACC Vice-chair Mr Dierk Muller. The AmCham in Uzbekistan presentation was very warmly received by the members of the European Council of American Chambers of Commerce. more
AmCham News

Erika Olson, Political-Economic Officer of the USA Embassy in Uzbekistan receives a Certificate of Appreciation from the American Chamber of Commerce in Uzbekistan in recognition of her active support of AmCham activities during her stay in Tashkent. Erika moves on to another State Department post and we wish her success in her career and fond memories of her friends in Tashkent. more

Profile - AmCham Director Jean Claude Beaujean

I am Belgian so that explains my name, Jean Claude BEAUJEAN. I was born in Liege in 1947. I was educated in Mons, Belgium were I have received a Diploma of Technical Science and a degree of Lecturer in Science, 1970. I possess extensive experience working in the environment of the Former Soviet Union (FSU), and other related economies as a Project Leader in the industrial sector (Energy, Petroleum and Gas, Textiles, and Agricultural-mechanic equipment). I have a broad knowledge of enterprise restructuring, divestitures, and privatization, in the FSU and North Africa. I have been serving as the Honorary Consul of Belgium in Uzbekistan since 1998. My nomination was made by the King of Belgium. I have received the Order of Merit from the French President for my long and successful activity in Uzbekistan. I am a Board Member of the American Chamber of Commerce in Uzbekistan since 1999. more

Who are the Members of AmCham?

The Carthill Group of Companies is opcraiing in Uzbekistan since 1995. The Carthill Group was one of the first representatives of British business who turned to the actively developing market of the Republic after its political and economic independence. In this case, it should be mentioned that the company's purely theoretical interest to the local market has been transformed into practical activity relatively soon. In order lo get familiarized with the new market conditions, Carthill started with its traditional business, i.e. trade. more

What is New in the Legislation of Uzbekistan?

On April 21, 2006, the President of the Republie of Uzbekistan issued Resolution "On Measures to Intensify Combat against Crimes in Financial-and-Economic and Tax Spheres, and against Legalization of Criminal Proceeds" (#PP-331); the Resolution introduces important changes in activity of the Department for Combat against Tax and Currency-related Crimes (the General Prosecutor's Office of the Republic of Uzbekistan). In order to detect and stop legalization of the criminal proceeds and financing of terrorism, its functions are supplemented by financial intelligence that implicates monitoring of and control over financial flows at physical persons and legal entities. more

SME Committee News - Workshop June 05, 2006

One-day workshop devoted lo "Financial Tools for Knhancing Kxport and Mitigation of Foreign Trade Risks" was held at the "Dedeman Silk Road Tashkent" hotel on June 5, 2006. The workshop was arranged by the USA companies "Accordia Northeast Inc." and "Zurich Emerging Market Solutions" under the auspices of American Chamber of Commerce in Uzbekistan and USA company "Interconcepts Inc.". Representatives of the leading banks, insurance companies, sectoral LLCs, entities of the small business and entrepreneurship sector participated in the workshop. more

Tourism Committee News

The beginning of May in ancient Bukhara was highlighted by the international festival of cultural traditions "Silk and Spices". Local entrepreneurs united in the Association of Tourism Firms and Small Businesses and the Centre on development of Handicrafts have initiated this cultural event several years ago. Such an initiative was strongly supported by Bukhara city and regional administrations, Uzbektourism and its Bukhara branch, and the Council on Handicrafts of Asian-Pacific Department of UNESCO. more

Who are the Members of AmCham?

PricewaterhouseCoopers was created in 1998 through the merger of two firms - Price Waterhouse and Coopers & Lybrand - each with its historical roots going back some 150 years. PricewaterhouseCoopers ( provides industry-focused assurance, tax and advisory services for public and private clients. More than 120, 000 people in 144 countries connect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders. In Central Asia, we operate as a global organization capitalizing on our breadth and depth of knowledge fully shared. more

Business Connections #4/2006

Business Connections #4


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